Bellwork :

1. Bellwork: • Compare the money I hand out to you! • Is all the money the same? • What nation(s) do you think the money is from? • Based on what you may or may not know about the topic we are covering today, trade/swap currency if you wish!

2. What’s so Great about a Depression?

3. Began with crashes of the London Stock Exchange & NY Stock Exchange in Autumn ‘29 • Investors lost confidence & pulled their money out of the market • U.S. banks had invested heavily in the stock market, so many banks failed after 1929 • U.S. bank loans to Europe halted, spreading the crisis • Failed investments & banks halted industrial production, which decreased employment

4. Most $ became worthless!

5. U.S. Unemployment

6. German Unemployment

7. German GDP

8. Other stats • Dow Jones Industrial Average went from 381 points in 1929 to 42 points in 1932 • The US GDP fell 50% from 1929 to 1933 • In the 1930s, more people emigrated from the United States than to it • Families increasingly could not afford basic items like food, shelter, & clothing • Interesting note: the USSR did NOT experience a depression in the 1930s (sort of....)

9. Breadlines

10. German breadline

11. Rise of Fascism • The instability of the ‘30s led people to turn to radical causes • This is especially true in Italy & Germany, as Mussolini & Hitler rose to power • Hitler becomes Chancellor of Germany in 1933