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Transcript of mr.west project
Great Recession New Depression The Great Depression The Great Recession Major causes :
stock market crash of 1929
-- the crash of the stock markets is one of the major causes that led to the great depression
-lost more than $40 billion
-thoughout the 1930's over 1900banks failedd.
- people stopped purchasing iteams
which led to the reduction iteams produced. Which then led to the reduction of workforce.
-people started loosing their jobs Reduction of Purchasing 8yrs ago the stock market also crashed.
stocks also fall as companies make less profit unemployment occurs agian.
fear caused people to stop spending money , business stop hiring which then leads to un employment.
"as money grow the economy grow" increase in money supply by federal reserve increases by
17% (1933) Increase in money supply by federal reserve 125%
(September 2008 May 2009) PResident Herbert hoover said that the economy will fix its self.
President Bush gave money back How did the leaders of our country
do to prevent these crises?