Bell Ringer. In the current economic turmoil, if your parents lost their job and house (and so did you relatives), what would you do?. Hoover on Prosperity. “It has been twelve months of unprecedented advance, of wonderful prosperity. If there is any way of judging
“It has been twelve months
of unprecedented advance,
of wonderful prosperity.
If there is any way of judging
the future by the past,
this new year will be one
of felicitation and hopefulness.”
-New York Times EditorialJanuary 1, 1929
Villain or Scapegoat?
13 Million Workers
Many had gone into debt to buy machinery and land, and low prices wiped out potential profits.
Drought of 1931-1932 turned much of Midwest into a Dust Bowl
While many Okies and fellow farmers migrated, most stayed put because at least they could still plant food for survival
The biggest Economic blunder
in American History?