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Great Depression

Immediate Cause of THE GREAT DEPRESSION The Stock Market Crash of OCTOBER 29, 1929
The Great Depression ruined many investors, hurt companies and reduced faith in banks
Investors had been buying stocks "on margin" = spending more money than you can afford with the chance of making a FAST BUCK
LONG-TERM causes of The Great Depression Failure of the BANKING system; underconsumption
Effects of The Great Depression severe economic crisis from 1929 until WWII (1939-1945); very high unemployment; homelessness (Hoovervilles); poverty and bank failures
Pres. Herbert Hoover 31st president from 1929-1933
Pres. Hoover blamed for the Depression; his belief that the government should NOT give aid to the needy reduced the nation's faith in government
Pres. Hoover Rugged Individualism
Dust Bowl the terrible drought that hit the Great Plains and resulted in the Okies moving to California because of the lack of alternative job opportunities
Created by: SarahDishman