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The Great Depression (1929-1939). I) The Market Crashes. Oct. 24, 1929 the NYSE had the greatest one day loss in history. A) The unregulated market allowed people & banks to buy on “margin” B) Increasing gap between rich and poor C) High US tariffs discourage international trade

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I the market crashes l.jpg
I) The Market Crashes

  • Oct. 24, 1929 the NYSE had the greatest one day loss in history.

  • A) The unregulated market allowed people & banks to buy on “margin”

  • B) Increasing gap between rich and poor

  • C) High US tariffs discourage international trade

  • D) Massive overproduction caused a collapse in prices.


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II) Crash leads to Depression

  • A) Most banks had invested in the stock market with low reserve requirements

  • B) Collapse of US economy leads to collapse in world economy


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III) The Damage is done

  • A) Unemployment & Poverty skyrocket

  • B) Deflation drops wages and increases debt.

  • C) No capital to invest

  • D) No demand to sustain businesses (The Downward Spiral)


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IV) Economics affects Politics

  • A) Huey Long begins “share the wealth” program

  • B) Charles Coughlin criticizes Roosevelt for not going far enough.

  • C) Communist Party membership increases

  • D) Democracies crumble all over Europe (Germany, Italy, Spain, Portugal)


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V) Relief, Reform & Recovery

  • A) FDIC insures all bank accounts

  • B) SEC & FTC regulate stock market

  • C) Social Security helps seniors

  • D) NLRB created to negotiate between labor and business

  • E) WWII creates demand for munitions. Pulls us out of Great Depression


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