Great Depression Storyboard
Öykü Penceresi Metni
- Cause: People Taking Out Loans
- Bank of America
- Loans
- Cause: WWI Ending
- We won the war!
- Cause: Germany Printing Money
- We owe so much money... Maybe we can just print more!
- Americans were taking out loans and investing them in the stock market, which was a bad Idea. This led to bank failure as no one was paying these loans back!
- Effect: Bank Failure
- Bank of America
- Once WWI ended, tons of soldiers were sent home. Since their job during WWI was to fight once they got home they were unemployed.
- Effect: Unemployment
- Bombs
- Ammo Manufacturing
- Germany owed tons of reparations after the war. They didn't have enough money so they printed more thinking that that would fix it.. They were very wrong.
- Effect: Hyperinflation
- Eventually, all of these unpaid loans led to complete bank failure because the bank had no more money to loan out.
- Lots of men were drafted to the war, so once everyone was sent home, there was lots of unemployment. Most factories and workplaces had been switched to help with the war by manufacturing bombs and ammunition and could not provide jobs after the war.
- Since Germany had printed so much money the price dropped causing hyperinflation. Many Germans were paid with wheelbarrows of money. People at home burned money because it was cheaper than wood.
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