GREAT DEPRESSION 1929-1941

STOCK MARKET STOCK –SHARE-PIECE OF A COMPANY BUY SHARES-BUYING PIECE OF A COMPANY GOING PUBLIC-OFFER SHARES TO PUBLIC –FIRST TIME

Stock Market Share-small piece of a company Buy share Part ownership Buy low Sell high

I.P.O. Initial Price Offering First time offering to public of shares Facebook-May 2012 $38.00 a share Raised 16 billion

BUYING ON MARGIN BUY LOW SELL HIGH BUY FOR $1.00 SELL FOR $10.00

Buying on Margin MARGIN – BUY ON CREDIT OVERSPECULATION OVER INVESTING MARKET BECOMES OVERBLOWN BALOON-EXPLODES TOO MUCH MONEY IN MARKET

CAUSES FOR CRASH OVER-PRODUCTION-CAUSES PRICES TO DROP BUYING ON MARGIN BUYING ON CREDIT-CAN’T PAY ADVERTISING-PEOPLE HAD TO OWN THINGS CAN’T PAY NO GOV’T PROTECTION

BLACK TUESDAY OCTOBER 29, 1929 30 BILLION LOST IN STOCK MARKET COUNTRY FALLS INTO “GREAT DEPRESSION” GOV’T MUST GET INVOLVED

LIFE DURING DEPRESSION PEOPLE LOST HOMES JOBS FAMILIES HOOVERVILLES-HOMELESS LIVE IN SHACKS IN PUBLIC PARKS HOOVER BLAMED FOR DEPRESSION

DUST BOWL FARM PRICES DROP EXTREME DROUGHT DRIES UP LAND OVERPRODUCTION NEW TECHNOLOGY EXTREME DROUGHT DRIES UP LAND DUST COVERS AND KILLS CROPS FARMERS LOOSE EVERYTHING LOOK TO GOV’T FOR HELP

ESCAPING THE DEPRESSION MOVIES-ESCAPE FANTASY WIZARD OF OZ SNOW WHITE

John Steinbeck “The Grapes of Wrath”-1939 Tom Joad-Dust Bowl Starving and out of work Leave Oklahoma for California “Okies” Desperation and commitment of the people During the Depression

HOOVER’S PLAN AGAINST FEDERAL AID STATE GOV’T AMERICAN’S TOO PROUD BLAMED FOR EVERYTHING

FRANKLIN ROOSEVELT 1882-1945 WEALTHY NEW YORK FAMILY 1921-POLIO-CRIPPLED FOR LIFE NEVER HELD HIM BACK

F.D.R. 1928-GOVERNOR OF NEW YORK ELECTED PRESIDENT NOVEMBER 1932 GET GOV’T INVOLVED CREATE JOBS BRING RELIEF FROM DEPRESSION

THE NEW DEAL FDR’S PLAN TO GET OUT OF DEPRESSION “TRIAL AND ERROR” GET GOV’T INVOLVED CREATE JOBS USING “TRIAL AND ERROR”

FDR’S ADMINISTRATION OPEN TO NEW IDEAS SPOKE TO THE PEOPLE “FIRESIDE CHATS”-RADIO SPEECHES

THE NEW DEAL FDR TAKES ACTION TO BRING RELIEF TO DEPRESSION ‘FIRST HUNDRED DAYS” -CONGRESS PASSES 15 MAJOR ACTS TO HELP AMERICANS RELIEF FROM GREAT DEPRESSION

BANK HOLIDAY BANK HOLIDAY-CLOSES BANKS PUTS MONEY BACK IN BANKS PREVENTS “RUN ON BANKS” PEOPLE TAKE OUT ALL THEIR MONEY PUTS MONEY BACK IN BANKS RESTORES FAITH IN BANKING AGAIN GETS COUNTRY RUNNING AGAIN

THREE R’S RELIEF-MONEY RECOVERY-JOBS REFORM-CHANGE

SECURITIES EXCHANGE COMMISSION S.E.C.-REGULATES THE STOCK MARKET POLICE FORCE FOR INVESTORS JOE KENNEDY FIRST CHAIRMAN “TAKES A THIEF…

FEDERAL DEPOSITORY INSURANCE CORP. F.D.I.C. INSURE MONEY IN THE BANK RESTORE FAITH IN BANKS BANKS GET MONEY MAKE LOANS

FARMERS AGRICULTURAL ADJ. ACT-AAA. FARMERS OVERPRODUCE PAY FARMERS NOT TO PRODUCE PRICE STAYS UP HELP FARMERS

NEW DEAL CONT. C.C.C.-CIVILIAN CONSERVATION CORP. JOBS TO 18-25 YR. OLD MEN PLANTING TREES BUILDING RESERVOIRS $30.00 A MONTH 3-MILLION JOBS

NATIONAL RECOVERY ADMINSTRATION N.R.A.-BUSINESS JOINED ASSOC. SET PRICES AND PUSHED BUSINESS FORWARD UNCONSTITUTIONAL

OPPOSITION TO FDR CREATING A WELFARE STATE TAKING AWAY STATES RIGHTS PEOPLE DEPENDENT ON GOV’T TAKING AWAY STATES RIGHTS FEDRAL GOV’T CONTROLS EVERYTHING DEFICIT SPENDING-SPEND MORE THAN THE FED. GOV’T HAS HAD TO PAY FOR THESE PROGRAMS TAXES

WAGNER ACT-1935 WORKERS THE RIGHT TO ORGANIZE UNIONS STRIKE IF NEEDED COLLECTIVE BARGAIN 1939-UNIONS GROW TO 9 MILLION MEMBERS WORKERS GAIN MORE RIGHTS UNDER F.D.R.

SOCIAL SECURITY RETIREMENT PLAN RETIRE AGE 65 PAY INTO IT GOV’T SHOULD BE RESPONSIBLE FOR WELFARE (safety) OF PEOPLE

OPPOSITION TO S.S. CREATING “WELFARE STATE” FEEL LIKE A NUMBER RUNNING OUT OF MONEY MEDICINE-LIVING LONGER PUSH RETIREMENT AGE BACK BABY BOOMERS-76 MILLION BORN 1945-1961 LEGACY OF NEW DEAL

VARIOUS TYPES RETIREMENT DISABILTIY SURVIVORS MEDICARE AGE 65 HURT CAN NOT WORK SURVIVORS DEATH MONEY EARNER MEDICARE CARE OVER 65

COURT PACKING SCHEME 1936-SUPREME COURT N.R.A. UNCONSTITUTIONAL FDR WANTS 6 MORE JUSTICES PACK COURT WITH SUPPORTERS FDR “TOO POWERFUL”

T.V.A. PROVIDE ELECTRICITY TO TENNESSEE AND REST OF SOUTHERN STATERS HELP POOR BRING THE SOUTH INTO 20TH CENTURY

NEW DEAL AND AF. AM. NOT DO MUCH FOR BLACKS DOES SOMETHING LOSE SOUTHERN DEMOCRATS SUPPORT

LEGACY OF NEW DEAL GOV’T NOW INVOLVED “SAFETY NET” FOR PEOPLE NOT TAKE US OUT OF DEPRESSION WORLD WAR II. WELFARE STATE COMPARED TO FDR