2. The Crash & The Great Depression Brother, can you spare a dime?

3. Why Did The Stock Market Rise So Much During the Late Twenties? Unreal share prices Investors speculation

4. This speculative rise is called a “Bubble.” And we all know what happens to bubbles.

5. Why Did The Market Crash In October,1929? A bubble can only expand... Once the new money runs out...

6. In Three Weeks, The Market Lost... $30 Billion

7. Millions Of Americans Become Unemployed.

8. How Did The Stock Market Crash Weaken Banks? 1. Banks had loaned money... 2. Banks had invested....

9. Bank Losses Led To A... Bank Run!

10. When A Bank Collapsed...

11. How Did Uneven Wealth Distribution Cause The Depression? The middle-class didn’t have enough money to buy all the goods America was making. Demand crashed.

12. The Demand Crisis

13. How Did Loss Of Export Sales Cause The Depression? Congress passed a heavy tariff on imports. (Why?) Foreign countries passed their own tariffs in revenge. Exports sank, which meant another reduction in demand.

14. The Demand Crisis

15. What About Mistakes By The Federal Reserve? The Fed sets the nation’s interest rates. During the Depression it raised rates, which reduced the people’s ability to spend. Again, demand was reduced.

16. The Demand Crisis

17. To Make Things Even Worse, An Environmental Crisis Came Along. The Dust Bowl

18. In Search Of Work, Many Unemployed People... Rode the rails.

19. President Hoover Opposed Federal Unemployment Relief Only state and city governments should dole out relief. Charities could provide sufficient relief until the economy improved. Individuals should be responsible for taking care of themselves. (Does this sound familiar?)

20. Newly Homeless People Put Up.. “Hoovervilles.”

21. By 1932, America Was Looking For A Savior.

22. What Was The New Deal?

23. What Ideology Was The New Deal? What have you got that will work?

24. What Were The Key Elements Of The New Deal? Civilian Conservation Corps (CCC) Tennessee Valley Authority (TVA) Agricultural Adjustment Act (AAA) Federal Deposit Insurance Corporation (FDIC) Securities and Exchange Commission (SEC) Is there a common thread here?

25. How Did FDR Pay For The New Deal?

26. Did The New Deal Work?

27. What is Social Security?