1. The Worldwide Depression © 2011 Clairmont Press

2. Overview When: 1929 - 1936When: 1929 - 1936 Where: GlobalWhere: Global Why: Major downturn in the economy led to unemployment, inflation, foreclosures, and poor economic decisions by governments.Why: Major downturn in the economy led to unemployment, inflation, foreclosures, and poor economic decisions by governments. How: Demand for U.S. crops plummeted in the late 1920s, farmers begin to lose farms, banks were forced to take heavy losses and close, people panicked and pulled investments from companies and the stock market crashed.How: Demand for U.S. crops plummeted in the late 1920s, farmers begin to lose farms, banks were forced to take heavy losses and close, people panicked and pulled investments from companies and the stock market crashed. Who: Most families were affected in some way by the Depression. Some countries had as high as 30% unemployment. In comparison, the unemployment was considered high in 2010; in the state of Georgia and it was 10 %.Who: Most families were affected in some way by the Depression. Some countries had as high as 30% unemployment. In comparison, the unemployment was considered high in 2010; in the state of Georgia and it was 10 %.

3. Causes As early as 1926, farmers in the United States began losing farms due to falling demand.As early as 1926, farmers in the United States began losing farms due to falling demand. Banks foreclosed and resold farms and took major losses.Banks foreclosed and resold farms and took major losses. After three years of losses, many banks were forced to close.After three years of losses, many banks were forced to close. Panic hit the stock market and people pulled their money out.Panic hit the stock market and people pulled their money out. Companies were forced to close large factories; banks were forced to close.Companies were forced to close large factories; banks were forced to close. A run on the banks led to further panic and people quit spending money. Businesses shut down and unemployment skyrocketed.A run on the banks led to further panic and people quit spending money. Businesses shut down and unemployment skyrocketed. The economic shock spread to other countries that relied heavily on the United States as a trade partner.The economic shock spread to other countries that relied heavily on the United States as a trade partner. The world entered an economic depression.The world entered an economic depression.

4. Effects Worldwide, families lose tremendous amounts of money and property.Worldwide, families lose tremendous amounts of money and property. People began to search for food.People began to search for food. The number of soup kitchens and unemployment skyrocketed.The number of soup kitchens and unemployment skyrocketed. Young people were forced to leave their families to find work.Young people were forced to leave their families to find work. Some families were forced to live in poverty.Some families were forced to live in poverty. Desperation gripped countries, especially Germany, the United States, Canada, and Australia.Desperation gripped countries, especially Germany, the United States, Canada, and Australia.