13th- movie
14th- movie
15th- consumerism, buying on credit, republican philosophy- Harding, Coolidge, hoover. Laissez-faire: rugged individualism, trickle down theory, stock, stock market, Dow Jones industrial average, buying on margin (credit), watered stock, stock pooling, speculation-with stocks, income equality, federal reserve board- bankers bank (people would run and take their money and that was a big problem, it was for banks struggling and they could get money from the reserve to keep going (value of dollar, inflation and deflation). Cause of stock market crash- stock prices were grossly inflated, did not have value-watered stock prices, over-speculation during the 1920's, led to watered stock, buying on margin, led to people being in debt and watered stock prices. other causes included over production of goods, uneven distribution of wealth, too much borrowing from banks, federal reserve increased interest rates, lack of gov. regulation. effects of stock market crash: investors and businessess lose millions, people lose money, thousands of banks fail-savings wiped out (use people's money to put in stock and lose money), businesses cut production lay off workers, unemployment rises people quit spending money, great depression sets in, depression spreads to europe and other parts of the world. Causes of the great depression- overproduction of goods, farmers weren't doing well, underconsumption of goods by consumers, high protective tarrif policies of the 1920's and world trade drops, taxes benefiting the rich: rich got richer, poor got poorere, stock market crash. effects of the great depression- new deal programs start makes the US gov. much larger, deficit spending starts, the new deal created many organizations that are stilll around today social security welfare. fascist, military and communist dicatators come to power throughout the world. The vicious cycle. Hoover presidency- What hoover did- he told people to be patient, and positive also made federal farm board and norris-La Guardia Act.
16th- no school
17th- no school
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