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The Great Depression . Fast Five: What do you know about the Great Depression?. Causes of the Great Depression. Income Inequality Stock market crash Debt (Installment buying). Income Inequality. In 1929 21% of families made under $1,000 21% made $1,000 - $5,000 2.3% made over $10,000

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The Great Depression

Fast Five: What do you know about the Great Depression?


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Causes of the Great Depression

  • Income Inequality

  • Stock market crash

  • Debt (Installment buying)


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Income Inequality

  • In 1929 21% of families made under $1,000

  • 21% made $1,000 - $5,000

  • 2.3% made over $10,000

  • 40% of people live below the poverty level


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Stock Market Crash

  • Stock Market Crashed on “Black Tuesday, October 29, 1929

  • Many people lost all of their money

  • People were buying stock on “margin”

  • 10% cash, 90% financed

  • Stock value went down sharply


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Debt

  • During the 1920’s people purchased many, many things on credit. Pay part now, make payments later.

  • People could no longer afford to make the payments and ended up in debt

  • This was particularly hard on farmers


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