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THE GREAT DEPRESSION vs THE GREAT RECESSION
Transcript of THE GREAT DEPRESSION vs THE GREAT RECESSION
- Bank Failures
-Reduction in Purchasing Across the Board
-American Economic Policy with Europe and Drought Conditions.
President FDR was the
president during the
Facts 1.Herbert Hoover (1874-1964), a Republican, was president when the Great Depression began.
2.People who lost their homes often lived in what were called “Hoovervilles,” or shanty towns, that were named after President Herbert Hoover.
3.After the initial crash, there was a wave of suicides in the New York’s financial district.
4.In response to the economic crisis, designers created more affordable fashions with longer hemlines, slim waistlines, lower heels, and less makeup
Causes Herbert Hoover President FDR The stock market crash Great Recession President Bush Causes Inflated housing market driven
higher by easy credit, excessive leverage
in the financial system, speculative
in thehedge fund in dustry, and staggeringly
high trade deficits. President Obama Facts More than 7 million people lost their jobs between January and June, 2009.
That is the steepest job loss since World War II.
Unemployment is now averaging 24.5 weeks (over six months) and
that is the longest since the government started tracking it in 1948.
Banks are still failing.
The economy is in a great mess.
Things are still bad as they used to be. The End