american depression. american economy in the 1920s united states was world’s leading economic...
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American DepressionAmerican Depression
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American Economy in the American Economy in the 1920s1920sUnited States was world’s leading
economic power
because of WWI, farms & factories supplied world– fed & supplied Allied soldiers
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American Economy in the American Economy in the 1920s1920svalue of stocks skyrocketed around
400%
new products for the common man– automobiles– radios– vacuum cleaners– washers
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Hidden ProblemsHidden Problems
wealth distribution– richest 1% of population earned 19% of nation’s
income– top 200 companies held more than 50% of
corporate wealth
credit– borrow money to pay for items and promise to pay
back that money
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October 29, 1929October 29, 1929
Black Tuesday– spending slowed– nervous investors sold their stocks
feared stock prices would drop because products were bought as often
Great Depression: severe downturn in American economy following 1929 stock market crash
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Outcomes of CrashOutcomes of Crash
investors = ruined
banks = in trouble– loans to ruined investors or companies who saw
decreased spending couldn’t be paid
people = in trouble– money invested in bank wasn’t insured
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Investorslost money when stock
market crashed & businesses went bankrupt
Bankslost money when
people/investors & businesses couldn’t repay credit/loans
Businesseslost money when people
bought less goods & investors stopped investing
Peoplelost money when banks closed & when lost jobs
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Depression SpreadsDepression Spreads
1933 1 of every 4 workers out of jobs– fewer people could buy food/goods from
market, hurting economy even more
bank failure– lost money when loans went unpaid
no insurance for customers
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ADD TO TERMS!!!ADD TO TERMS!!!
add to Section 2 of terms packet
Hoovervilles: collection of huts & shacks as at the edge of a city, housing the unemployed during the 1930s
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