The Causes of the Great Depression - PowerPoint PPT Presentation

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The Causes of the Great Depression

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  1. The Causes of the Great Depression

  2. Black Tuesday • October 29th, 1929 • Brokers • Borrow on margin • Now cost to trade, most of the time • Bull Market • Bear Market

  3. Banking Crisis • Deposit money • Bank uses the money you have deposited to loan • Loans are paid back with interest • You take your money out as loan is being paid • 1920s banks loaned money to Brokers • October 1929, people began to worry • Bank runs • Panicked, withdrew money • Banks closed, savings vanished

  4. Overproduction and Underconsuption • Shrinking market for agriculture after the war years • Began 10 years before the rest of the country. • Assembly line • Why not just give our goods overseas? • Economic Terrorism • Company laid off workers • They had no money to spend • Downward spiral

  5. The Fed • Banks can borrow money from Federal Reserve Banks • Interest rates kept low • Did not expand money supply • Letting banks borrow more money

  6. The Gold Standard • Money supply would not vary, less inflation • Prices around the world moved together • Long time: Ounce of Gold for $20.67 • Roosevelt Devaluation1933: $35.00, only foreign governments and central banks • Payments, but could trade at some time for Gold • August 1971, suspending convertibility

  7. Tariffs • To pay the United States back Germany needed to sell product • Tariffs made that difficult • Trade war, raising tariffs higher • Record highs • Great Depression Spread around the World

  8. Current connections • Half of the $923 billion’s worth of currency in circulation is in the possession of foreigners. • Speculation, housing bubble • 2008, housing prices crashed • Houses sold for more than they were worth • Home loans for those that could not pay • Banks not receiving enough payments to stay afloat • Are we in a great depression: or just a very long recession

  9. How did Marjorie Krueger survive the Great Depression?

  10. Project Pieces/ Due Dates (may change)

  11. Questions • 4 Questions you would like to ask Marjorie Krueger, if you could about the start of the Great Depression. • Individual Grade • 1 point per question- • 4 times of asking questions = 16 point individually

  12. Causes Political Cartoons • 4 causes • 4 political cartoons • One Black Tuesday • One Bank Runs • One your research • One your research • Paragraph: Describes point of view, “quote”, how it describes the time period • Research: Sources MLA format • Cartoons Due: Wednesday 3/13 • 5 points per cartoon, (group grade)