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First Steps Reassurances “prosperity around the corner” Employers: no layoffs, no wage cuts

First Steps Reassurances “prosperity around the corner” Employers: no layoffs, no wage cuts Labor: no demands, no strikes. More Direct Action. John Maynard Keynes Govt. cut taxes and raise spending = more private investment Create govt. agencies Federal Farm Board Raise crop prices

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First Steps Reassurances “prosperity around the corner” Employers: no layoffs, no wage cuts

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  1. First Steps Reassurances “prosperity around the corner” Employers: no layoffs, no wage cuts Labor: no demands, no strikes

  2. More Direct Action • John Maynard Keynes • Govt. cut taxes and raise spending = more private investment • Create govt. agencies • Federal Farm Board • Raise crop prices • Glass-Steagall Banking Act • Banks loans easier • Federal Home Loan Act • Lower mortgages

  3. Construction Projects • Reconstruction Finance Corporation (RFC) • Emergency help for large business • “trickle down” • Boulder Dam, bridges, roads • Empire State Building • Raskob vs. Chrysler • Design, workers, early years

  4. Revolution? • “Unless something it done soon ….” • Agrarian action • Farmers burned corn, dumped milk • “farm holiday”; blocked roads

  5. WWI vets march to D.C. Early bonus payout

  6. Disbanding the “army” MacArthur, Eisenhower, Patton Tanks, bayonets, and gas vs. ???? Huge damage to Hoover’s image “The Hoover diet is gas”

  7. http://www.youtube.com/watch?v=B7akl4P0fWE&feature=related    10 mins

  8. Next Lesson • “We’re in the Money” • http://www.youtube.com/watch?v=UJOjTNuuEVw • “Dancing in the Dark” • (no video available) • “Brother, Can You Spare a Dime?” • http://www.youtube.com/watch?v=4F4yT0KAMyo • Stop at 1:55

  9. http://www.youtube.com/watch?v=EO2rmq1Yl9A&feature=related     4 mins

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