what i learned today:
- stock market crash was a huge cause of the depression
- Our policy with Europe was also a cause
- buying on credit was a main cause of the stock market crash
- Buying on credit is letting people buy things, and pay for them later.
- "margin millionaires" went broke
- Banks closed because people lost money, and their savings, and banks had to be more careful about giving out loans
- Social Security system was brought up
- today money in banks will be safe, even if the bank were to fail.
- banks fail, businesses fail, many people are unemployed
- "New Deal" was created. where men and women were paid by the gov. to build roads and schools, etc..
- wages became more stabilized
- When the war started for the US, the depression ended
Comments