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US History

The Great Depression

Causes of the depression huge growth in productivity low pay/ loss of jobs European good were not being sold
dust bowl farmers grew wheat on land normally used for grazing animals. the dry hot summers turned this into nothing but dust. led to the Midwesterners fleeing California. they got the name Oakies
stock market crash black Thursday Oct 24, 1929. margin buying, excessive speculation and a bull marker that led to inflated investments which led to the crash.
trickle down economics reganomics, supply side economics, tax cuts to the wealthy and the wealthy will then invest in an economy which will then trickle down to the poor
Hoovervilles term referring to the shantytowns that the homeless and unemployed started putting up on major cities across the Unites States
FDR president that led through the great depression and WW2 He was handicapped.
New Deal FDR's plan to fix the problems of the great depression. New deal fundamentally changed the way our country interacts with government, it is a huge expansion of the federal government
relief, recovery, reform 3 goals of the new deal relief: immediately help the out of work and put people back to work recovery: get the economy working again reform: put mechanisms in place to prevent a reoccurrence of the depression
emergency banking act closed all banks in the US until they could be inspected by the government. they reopened when their finances were assured; build confidence of public and stopped runs on banks.
Federal emergency relief act it was the first step in the program of relief at the beginning of the news deal. Direct payments, soup kitchens.
FHA federal housing authority: set up low cost mortgages for new construction or repair of older buildings
FDIC federal deposit insurance corporation: Insured banks against failure. It protected your money in the bank.
social security money paid to someone to help in their old age. You pay into it and then it helps with pensions
Wagner Act the national labor relation act also establish the rights of worker to join trade unions and to bargain collectively with their employers through representative of their choosing.
court packing Roosevelt proposed expanding the court to 15 members. this was rejected as an obvious attempt to get around the system of checks and balances
Created by: kherniman