1. Uneven dist. of wealth
1.1. Middle class
1.1.1. Not rich but not poor
1.1.2. 58% of people above the poverty line
1.2. Pres. Hoover
1.2.1. THINKING
1.2.1.1. That the government shouldn't play a role in the economy.
1.2.2. "Gave tax breaks in return for private sector economic investment"
1.2.3. Created some relief funds for poor
2. New Technology
2.1. Better production
2.1.1. Over Production
2.2. No new Jobs
3. Global Economy
3.1. What the world became
3.2. TARIFF WARS
3.2.1. Government passing a high Tariff to help protect the Industry's
3.2.1.1. Tariff is a tax on imported and exported goods.
3.2.2. Causing other country's to pass high Tariffs
4. Americans React to Hoover-
4.1. Unpopular
4.1.1. Hoover was unpopular and he was making bad dissensions.
4.2. He doesn't get involved with Americans problems.
4.2.1. "wouldn't involve himself in any programs of direct gov'tal aid to individuals"
4.3. Frustration
4.3.1. "Isolated protest movements"
4.3.2. Farmers with low milk prices
4.3.2.1. The dumped out there milk.
4.4. Veterans (WW1) Frustrated
4.4.1. Movement to Washington in 1931. A year latter they were forced out of Washington by the Army.
5. NYC Stock Market Crash -1929
5.1. Quick loans
5.2. BUYING ON MARGIN
5.2.1. Buying stocks and only paying 10% at time of purchase.
5.3. STOCK SPECULATION
5.3.1. Buying then selling stocks fast
5.4. Panic selling
5.4.1. People Selling stocks too fast
5.4.2. Banks take back loans
5.5. Ripple effect on Economy
6. ECONOMIC CYCLE
6.1. Unemployment increased
6.2. Productivity went down
6.3. Buying went down
7. BANKERS’ PANIC 1931
7.1. Soviets sold cheep wheat to other country's to get back money.
7.2. Then the Austrians borrowed money for the Germans causing the Germans borrow money from the Americans causing it to wipe out American citizens accounts.
7.2.1. Making American Banks go bankrupt just like the German Banks
8. 1-4 PEOPLE WERE UNEMPLOYED 1932-
8.1. There was an election.
8.2. Income was 50% of it was in 1929
8.3. "Repubs. nominated Hoover • no hope"
8.3.1. FRANKLIN DELANO ROOSEVELT won by a land slide.