2/11
Causes of the Great Depression-
Stock Market Crash of 1929- There was Excess value stock, low wages, unemployment rates were rising, and there was a production decline. Black Tuesday was the start of the crash and 16 million shares were traded, billions were lost and thousands of investors were wiped out of cash.
Reduction in Purchasing across the board- People stopped purchasing products because they had no money, leading to a domino effect because no one was buying so businesses didn't need to make a lot so people got laid off and then those people couldn't buy products because they had no money.
Drought Conditions- There was over tilling of land causing dust bowls to be created in Texas, New Mexico, Colorado, Nebraska, Kansas, Oklahoma, etc. Farmers than had to abandon their land because it was dead and useless for growing now.
American economic policy with Europe- US raised tariffs by 20% so imports from Europe fell by 2/3. Overseas banks failed and other countries did similar things to us. This caused a worse world economy. Overall global trade declined.
2/12
NO SCHOOL
2/13
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2/14
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2/15
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