1. Optimism-
Believing that everything is going to work out well.
Speculating-
Making an investment that is risky but might bring big earnings.

2. The Federal Reserve failed to stop the banking collapse.
The Federal Reserve underestimated the problem.
They kept lending money and did not help small banks, many of which closed.

3. A worldwide failure
High ______ were imposed to keep people from spending money of foreign products.
High tariffs discourage international trade.
Tariff- a tax on imported goods.

4. Impacts of the Great Depression
With the crash of the stock market a large number of ___________ and ________ failed.
With the crash of the stock market a large number of businesses and banks failed.

5. Impacts of the Great Depression
By 1932 ___% of the nation was unemployed.
By % of the nation was unemployed.
America’s _____ were among the hardest hit.
America’s farmer’s were among the hardest hit.

6. The stock market has crashed and you’ve lost your job
The stock market has crashed and you’ve lost your job. What will you not be able to pay for?
A large number of people are hungry and homeless.

7. Dust bowl On top of everything else a draught struck the heartland.
Draught- a period of time without rain.
Without any rain the ground dried up and wind blew dust everywhere!!!

8. The New deal “The only thing we have to fear is fear itself”
The name of FDR’s sweeping changes.
The New Deal- within months new government programs were in designed to get people back to work.

9. 5 major cornerstones of the new deal
Social Security- pay a little money every paycheck for your retirement at 65.
Farm assistance program- price support for crops and low- interest loans to buy farms.

10. 5 Major cornerstones of the New deal
Environmental improvement- new infrastructures and conservation programs change the landscape.

11. 5 Major cornerstones of the New deal
Federal work programs- giving people jobs building bridges, dams, roads, etc.
Labor Rights- set a national minimum wage, allowed for unions to be formed.

12. Relief, recovery, reform
The three big ideas behind Roosevelt’s New Deal?
Offering help
Rebuilding America
Making sure a depression never happens again.

13. Up Next
World War II !!!