Updated: 12/10/2019
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Storyboard Text

  • When the tariff act of 1930 happened consumers had to raise the price of there products causing the stores to shut down so many people lost their jobs
  • unemployment
  • banking crisis
  • due to farmers not having any money a lot of banks were failing because they couldn't afford to pay the banks anymore
  • people believed the could fix the way the economy was dropping by trying to sell more things
  • false prosperity
  • the Great Depression caused personal income, tax revenue, profits, and prices to drop, so international trade went down by more than 50 percent leaving more than 25 percent of the u.s. with unemployment
  • trade collapse
  • they used the government money to invest in stocks but people could not buy those stocks and the policies that were governed leading them to fail again
  • speculation
  • nobody had any money to but anything from anybody so everybody lost their money
  • stock market crashes
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