We started talking about yesterdays blog discussion and now we are doing today discussion.
Eli talked about the story of the stock market crash it was just a review.
Whitney is talking about bank failure she said over 9000 banks closed down. Mr Bruns add that 11000 banks closed and when they closed down forever. The unemployment rate was at 25% and for like blacks and hispanics it was50%. People were losing there money because they bought everything on credit. THe cycle is People dont spend money to businesses dont make money to lay people off. Some of these statics are pretty crazy.
Dru is talking about tariffs. A tariff is a tax on an imported good. Tariffs are used to keep business in the United State. The tariff Hoover brought up made it hard for us to trade with other country. The history over the U.s. we have had a high tariff. The whole world went into a depression and world radical leaders. All the countries depending on each other.
Kylie is talking about the depresiion in the cities. Most people had factory jobs and so noone could pay their rent so they were kicked out of there house. So people build Shanty houses and called them Hoovervilles. Breadlines occurred.
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