Deflation during the Great Depression

Deflation during the Great Depression
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  • The 1930 bank failures led to credit freezing up
  • A frozen credit system meant that there was less money in circulation, This led to deflation. 
  • MT. CREDIT
  • Without money in circulation, prices of goods drop and big businesses layoff workers
  • NO JOB = NO MONEY
  • people aren't able to purchase goods, so prices drop even further and inventory builds up. 
  • Help us banks!
  • Banks weren't lending money, so business couldn't meet payroll. Businesses went bankrupt which meant more people unemployed
  • No!
  • More people unemployed meant even more money not in circulation which means no one could afford to buy the goods and services to keep business afloat. 
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