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Great Depression by Mind Map: Great Depression
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Great Depression

NYC Stock Market Crash -1929

Quick loans

BUYING ON MARGIN

Buying stocks and only paying 10% at time of purchase.

STOCK SPECULATION

Buying then selling stocks fast

Panic selling

People Selling stocks too fast

Banks take back loans

Ripple effect on Economy

Uneven dist. of wealth

Middle class

Not rich but not poor

58% of people above the poverty line

Pres. Hoover

THINKING, That the government shouldn't play a role in the economy.

"Gave tax breaks in return for private sector economic investment"

Created some relief funds for poor

ECONOMIC CYCLE

Unemployment increased

Productivity went down

Buying went down

New Technology

Better production

Over Production

No new Jobs

Global Economy

What the world became

TARIFF WARS

Government passing a high Tariff to help protect the Industry's, Tariff is a tax on imported and exported goods.

Causing other country's to pass high Tariffs

BANKERS’ PANIC 1931

Soviets sold cheep wheat to other country's to get back money.

Then the Austrians borrowed money for the Germans causing the Germans borrow money from the Americans causing it to wipe out American citizens accounts.

Making American Banks go bankrupt just like the German Banks

Americans React to Hoover-

Unpopular

Hoover was unpopular and he was making bad dissensions.

He doesn't get involved with Americans problems.

"wouldn't involve himself in any programs of direct gov'tal aid to individuals"

Frustration

"Isolated protest movements"

Farmers with low milk prices, The dumped out there milk.

Veterans (WW1) Frustrated

Movement to Washington in 1931. A year latter they were forced out of Washington by the Army.

1-4 PEOPLE WERE UNEMPLOYED 1932-

There was an election.

Income was 50% of it was in 1929

"Repubs. nominated Hoover • no hope"

FRANKLIN DELANO ROOSEVELT won by a land slide.