Causes
This major event in October 1929 caused panic selling of stocks and gave us the inspiration for a day celebrated by bargain shoppers all over the country.
What is the stock market crash/Black Tuesday?
Many families lost this when they could no longer make their mortgage payments.
What is their home?
This "Failed President" was criticized for not doing enough in response to the Great Depression.
Who is Herbert Hoover?
People rushed to withdraw money because they feared this.
What is banks closing?
A person who buys and sells stocks.
What is an investor?
Farmers struggled during the 1920s because crop prices were moving in this direction.
What is down?
Families often lost their homes and moved into these makeshift communities.
What are Hoovervilles?
The president believed this level of government should provide relief, not the federal.
What are state and local governments?
Banks collapsed when borrowers failed to repay these.
What are loans?
Borrowed money used for spending or investing.
What is credit?
This problem happened when factories made more goods than people could buy.
What is overproduction?
Many families relied on these free food distribution centers.
What are soup kitchens?
This idea supports little government involvement in the economy.
What is laissez-faire or small government?
This widespread feeling of uncertainty led to banks failing which only accelerated the feeling.
What is panic?
The total amount of goods produced in an economy.
What is production?
Although modern iterations of this popular payment method are plastic, the first versions in the 1920s were made of paper and metal.
What are credit cards?
Many families produced their own food using these.
What are gardens?
Critics said the president failed to provide enough of this to citizens.
What is direct aid?
Businesses struggled because banks could not provide this once they began to fail.
What is credit?
A long, severe economic decline that goes beyond the level of a recession.
What is a Depression?
Many people bought stocks using borrowed money, also called this practice.
What is buying on margin?
Fathers often felt this emotional burden when they could not provide, sometimes moving out in order to save on expenses.
What is shame or guilt?
This group of veterans protested in Washington for early bonuses.
What is the Bonus Army?
Without this modern policy, accounts were unprotected from the economic hardship of the Great Depression.
What is account insurance?
These modern programs help to make sure farmers make enough money to continue farming. They were not around during the Great Depression.
What are price supports or crop insurance?