1. THE GREAT DEPRESSION OF THE 1930’S “Brother can you spare a dime?”

2. Credit Consumer loans Houses Cars Clothing

3. Stocks Ownership in a company Company makes money – stock prices go up Buy low – sell high

4. Buying on Margin Borrow money to buy stocks. Stock prices go up Sell stocks – make profit Pay off loan

5. STOCK MARKET CRASH 1929 “Black Thursday”, October 24, 1929 “Black Tuesday”, October 29, 1929

6. Effects of the Depression Factories and mines close Banks are worthless Consumer buying stops Competition for jobs causes racial tensions

7. 1932 14 million Americans are jobless (almost 1/3 the workforce) Banks foreclose on houses and farms No food, no clothes, no jobs

8. THE DUST BOWL Colorado Kansas Oklahoma New Mexico Texas Cropland destroyed Respiratory health Unsanitary living Rampant crime Debt-ridden families

9. DUST BOWL ORPHANS Mass exodus to California Migrant workers

11. The New Deal Franklin D. Roosevelt elected 1932 New Deal Create jobs Stimulate the economy

12. The New Deal’s Critics Women & Minorities Progressives & Socialists – wanted more Republicans Government getting too big FDR like a dictator New Deal = socialism

13. Results of the New Deal Helped a LITTLE for SHORT time Recession National Debt Helped some artists Public works

14. Cultural Life Literature John Steinbeck Radio Comedies & Soap Operas Movies 25 cents for a double feature Wizard of Oz Disney movies