Unit III – A Modern Nation. Chapter 11 – The Great Depression Begins Section 2 – Americans Face Hard Times. The Roaring Twenties Come to an End [02:53 ] . The Great Depression Hits the United States [03:24]. Homeless People on the Road. Eating in a Breadline . Life in the Depression.
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Chapter 11 – The Great Depression Begins
Section 2 – Americans Face Hard Times
1) The Stock Market Crash of 1929- a trigger.
2) Unequal distribution of Wealth. False prosperity (A maldistribution of purchasing power).
3) Overproduction and over dependence on mass production.
5) Speculation in Stock Market- buying on margin and cheap money
6) Banking crisis.
7) Trade collapse
8) Republican Party
9) Federal Reserve and Money system
10) Lack of diversification.
11) Post war deflationary procedures.
12) The Credit structure.
Today, insurance from the federal government protects most people’s deposits, and laws today require banks to keep a large percentage of their assets in cash to be paid to depositors upon request.
Foreclosure occurs when a lender takes over ownership of a property from an owner who has failed to make loan payments.
The true measure of the Great Depression’s disaster lies in how it affected the American people.
The droughts and dust storms left many in the Dust Bowl with no way to make a living, and some simply picked up and moved:
For much of the decade, the Depression defied most government efforts to defeat it, and Americans had to fend for themselves.Fleeing the Plains