Rise and Fall of American Economy#2

Updated: 12/16/2020
Rise and Fall of American Economy#2

Storyboard Text

  • I know right! It was one of the major causes and two months after the crash stockholders lost $40 billion dollars. When they started regaining it still wasn't enough and then the Great Depression started.
  • Anna wasn't last class really interesting. I can't believe the Stock Market Crash of 1929 had a big impact on the Great Depression.
  • Oh yeah, I learned about that a couple days ago. It was the Mississippi Valley in 1930. The nickname was "The Dust Bowl".
  • Valary your not going to believe what i just learned in my history class. I learned that one of the causes for the Great Depression was drought conditions. Since it happened in portions people couldn't pay there taxes or other debts and had to sell their farms for no profits.
  • Don't worry Conner i'll tell you. It was a cause for the Great Depression. When the banks started failing people lost their savings. The surviving banks were worried for themselves and stopped making new loans for people.
  • Brendan did you learn about the bank failure because my teacher said we are learning it tomorrow but i want to be educated on it.
  • Oh cool. I didn't learn about that yet. What is it about?
  • Now in my next class I have to learn about the reduction in purchasing across the board. I already know about it though.
  • Wouldn't that mean that the items people have that they pay for over time got repossessed.
  • The reduction in purchasing across the board was when people stopped purchasing items since they started worrying after the stock market crash. Less items were made and people started loosing jobs.
  • Yes that's what happened.
  • Wow, that's unfortunate. Well, have fun in your next class.
  • Okay, i'll try.