THE BUBBLE BURSTS Unit 3 Lesson 6 (Sections 22.1 & 22.2)

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Presentation transcript:

THE BUBBLE BURSTS Unit 3 Lesson 6 (Sections 22.1 & 22.2)

Objectives Identify major causes of the Great Depression. Explain why stock market crashed. Explain economic & social effects of the depression.

Warm Up What 3 words would you use to describe the 1920s economy? Consumer, credit, boom, appliance, auto…

Review: Causes Unstable Economy Industrial overproduction “Sick” industries Unequal distribution of wealth Lack purchasing power = credit = debt Overspeculation Unsound bank loans Buying on margin Overvalued stocks Government Policies High interest rates High protective tariffs

Homework Review Have out your homework to review!

The Crash Dow at all-time high Sept 1929 Prices , selling , prices  Black Thurs 24th Black Tuesday 29th $15 billion loss 1 day Decline thru Nov $30 b losses FFFA-4D4F-91AA-84EFD56BA9B2

Activity: Effects of the Depression Students will work in groups of 3 to read and complete the “Effects of Depression” web.

Depths of the Depression Massive bank failures Unpaid loans, bank runs (withdrawal $) Production, prices, profits down. Bankruptcies galore Foreclosure, loss savings 25% unemployment rates Wages slashed

Hardship, Homelessness, Hunger Urban Issues Eviction Shantytowns Hoovervilles Soup Kitchens Bread Lines Discrimination

Hardship, Homelessness, Hunger Rural Issues Foreclosure Tenant farmers, Sharecroppers fired Dump milk, destroy crops Dust Bowl “The Great Depression Hits America” 1-F4A B4F3-884A3BF0DDB9 1-F4A B4F3-884A3BF0DDB9

Impact Health Family Problems Psychological Issues Mind Set

Hoover’s Response Normal business cycle…work itself out People fend for selves, no fed aid 1930 Reconstruction Finance Corporation

What would you do? If you were President Hoover and the country is in a Great Depression, how would you respond?

Closure Could the Great Depression have been prevented? Why or why not?