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Cause of Great depression
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- The Great Depression was the worst economic crisis in the entire world, which lasted from 1929 - 1939. It began after the stock market crash which happened in October of 1929, and this crash wiped out millions of investors.
- TIME TO GO TO THE JOINT TO BUY ME SOME GIGGLE WATER BECAUSE INTEREST RATES HAVE INCREASED!!
- When interest rates increased, the banks borrowed less money because they would have more to pay back. However when interest rates started to decrease, the banks can borrow more because it is easier to pay back.
- Aw man now interest rates have decreased and I barely have any money, I guess I'll have to sell my jalopy
- Somebody please help us, we haven't eaten in so long and we've been sleeping on the cold streets. I hope I don't upchuck!
- Millions of Canadians were left unemployed, hungry and often homeless. This decade became known as the "dirty thirties" due to the widespread loss of jobs and savings
- UHH you dumb dora, I told you not to drink all of that hooch!! You better not upchuck on my dogs!
- The stock market fell by a lot during the Great Depression mainly because of panics by the banking system.
- Thank you bee's knees, I will go to the gin mill and spend my money on some cat's meow giggle water.
- However, there was no punishment for banks if they didn't stop lending money to people.
- Here you go sir
- With all of these banks losing money and there is chaos everywhere, Canada needed a central bank. In 1935, the Bank of Canada was formed to standardize money production in Canada different from private banks
- WOO HOO!! Now this was a bee's knees by Canada. Thank you bank owner, now I can by me a house and all of the giggle water I need.
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