Key Terms
a sustained period of significant economic decline that sees a nation's GDP drop, unemployment rates rise and consumer confidence suffer
Economic Depression
In your opinion, what were the TWO main causes of the Great Depression?
I decide
What two practices made the stock market unstable? How?
Speculation and buying on Margin
describe a Hooverville
What was Hoover’s economic policy? How did it impact the depression?
Laissez Faire- people couldn't get help
After the Stock Market Crashed Many Americans Went to their banks to pull their money out only to discover that the banks had lost it in the stock market. What was this called?
Runs on the banks
How would you describe the difference in the daily life of the 20’s and the 30’s? (think about consumerism)
people are buying less and the distribution of wealth is significantly more
How did the stock market crash impact the average americans? Think about the banks
they ain't got no money
term to describe Americans that can work but can not find any
unemployment
How did FDR differ from Hoover? Think economics.
more gov. intervention
The Day after the News of the Stock Market crashing many people started selling off their stocks to pull their money out. This caused the market to fall lower and lower. What was this Day Called???
Black Tuesday
How did the use of credit in the 20’s create the majority of the problems that led up to the depression?
anything relating to debt
When you buy and sell with little regard to risk. Just want a quick profit
Speculation
the consumerism of the 20's encouraged many Americans to buy on credit. This pushed them into what?
Debt
How did the Roosevelts change the roles of the president and the first lady?
more visible president- 100 days, fireside chats, first lady that did something
The increased uses of Ads to market new products and the ability to buy on credit created a culture of what in the 20's
Consumerism
People going to the bank after the stock market crashed to pull their money out
Runs on the Bank
to buy stocks with a down payment and borrow the rest
buying on margin
What illness was spreading in the 30's? (think back to the daily life assignment)
Pneumonia
FDR's plan to save America during the depression
The New Deal
Loser Hoover
What are two reasons Farmers in the 20s went into debt?
buying equipment on credit
Can you connect this to the stock market during covid (think about gamestop)
people were buying and holding stock to mess with the stock market. did not care if it destabilized it
One interesting thing you learned from the daily life assignment
Up to Shook
Name one of FDR's New Deal Programs
up to Shook