1. PRODUCTIVITY & UNEMPLOYMENT
1.1. No gov. assistance @ first
1.2. People can't buy so productivity decreases
1.3. High employment at first because of demand of goods
1.3.1. Later on, demand decreased so there was too many goods "OVERPRODUCTION"
2. PRESIDENT HOOVER
2.1. VOLUNTARY NON - COERCIVE COOPERATION
2.1.1. Gave tax breaks to banks/businesses in return for private sector economic investments
2.2. HOOVER MORATORIUM
2.2.1. Temp. stop to war debt & reparations that Europe owes
2.2.2. Instead, Buy our goods so our factories can keep producing and employment can increase again
2.3. Not popular with the American People
2.3.1. Would not Gov. assist individuls
3. PUBLIC PROTESTS
3.1. Dairy Farmers hate low price of milk so they don't sell it
3.2. WWI Veterans' pensions stopped by congress so they march at Washington "BONUS MARCH"
3.2.1. 1931 set up housing "HOOVERVILES", food scraps "HOOVER-MEALS", hitchhiking journies "HOOVER RIDES"
3.2.1.1. New node
4. STOCK MARKET
4.1. Public buys & sells for $
4.2. Prices Increase
4.3. Inflation on Companies Stock Value
4.4. Panic Selling = All companies try to sell out at the same time
5. UNEVEN DISTRIBUTION OF WEALTH
5.1. 42% Below Poverty Line
5.1.1. New node
5.2. %8% above; Middle class depended on salary so when productivity declined they lost their jobs; ruined country
6. GLOBAL PROBLEMS
6.1. Democrats in Congress passed tariffs (taxes)
6.1.1. Other countries passed high tariffs because their economies were bad, therefore, no one bought American goods
6.2. Germans borrowed from Austrians and US
6.2.1. All banks started going bankrupt because no one could pay back their loans
7. 1932 ELECTION
7.1. 1 out of 4 people were unemployed
7.1.1. national income was half of what it was in 1929