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what problems did the great depression create?
Transcript of what problems did the great depression create?
What was the Great Depression?
The Great Depression was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. The Great Depression occurred on October 29, 1929 and ended on 1939.
When did it occur? What events caused it? When did it end?
The four major causes of the Great depression are:
What problems did the great depression create?
-increased crime rate: people started to steel and use violence to get what they needed.
-Increased Unemployment: In the 1930's the unemployment rate went from 3-4 million to 8 million.
-Mass Migration: During after the drought in the Mississippi river people started to move west to places like California where there was better weather and job opportunities.
How did people survive?
Bartering: Money was hard to come by during the Great Depression so people started to trade good for services or other goods.
Home grown foods: People could not afford food so where forced to grow it themselves.
Multiple sources of income: People started to put their money together so that they would be able to afford more goods.
What events caused it?
Reduction in Purchasing across the Board- With the stock market crash and the fears of further
-Stock Market Crash of 1929- Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929 is one and the same with the Great Depression.
Bank Failures- throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings.
Drought Conditions- While not a direct cause of the Great Depression, the drought that occurred in the Mississippi Valley in 1930 was of such proportions that many could not even pay their taxes or other debts and had to sell their farms for no profit to themselves
What is Black Tuesday?
October 29th, 1929. This is the date of the most famous stock market crash in history. Stocks lost 13% of their value on Black Tuesday. The date is considered the beginning of the Great Depression.
Series of programs set up by Franklin D. Roosevelt to get America back on its feet.
Focused on 3 R's: Relief, Recovery, and Reform
Relief for unemployed and poor
Recovery of the economy to normal levels
Reform of the financial system to prevent a Great Depression
WE NEVER WENT TO BED HUNGRY by Kami Christensen