Loading presentation...

Present Remotely

Send the link below via email or IM


Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.


The Great Depression & The Great Recession

The u.s comes together in a time of crisis.

Oscar Felix

on 26 April 2010

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of The Great Depression & The Great Recession

Some of the main causes of the Great Depression are: 1929 & NOW! Bank failures -- In 1930, more than 9,000 banks failed and closed shops. All bank deposits during that time were uninsured and people ended up losing their entire life's savings. The banks that survived closure and failure stopped giving credit and as a result business started failing, and people also had less money to spend. Bank Failures Many people believe that the stock market crash on October 29, 1929 is the same as the Great Depression. However, the crash was one of the major causes of the Depression, and 2 months after the crash, it is estimated that stockholders lost more than $40 billion dollars. Although the market regained some of its losses by the end of 1930, the gain was not sufficient to prevent the economic downturn. The stock market crash of 1929 With the stock market crash, fears were abound that further economic problems were round the corner so people just stopped spending money and purchasing items. This led to a reduction in production, which in turn led to layoffs. The entire incident became a vicious cycle because as workforce was reduced, people did not have enough money to spend and banks were not extending credit. Declining in purchases As businesses in America started failing, to protect American companies, the US started charging a high tax on imports. This resulted in less trade between the US and the European countries along with economic retaliation tactics. America's economic policy with Europe Although not a direct cause of the Great Depression, the drought created havoc among the farming community. The farmers had no money to pay their taxes or other forms of debt and were forced to sell their farms and move to the city looking for jobs. Many farmers along with their families lived on charity and were unable to find jobs to provide for themselves and their families. Drought in Mississippi Valley in 1930 The Recession The recession was said to be caused by housing market and the banks..... again. "Alot of people, including myself, think that a mixture banks and iresponcible people had alot to do with the reason that the economy is today" Bush & Obama tried the stimulus package for a spin to help the economy
Full transcript