monday- Mr. Bruns wasn't here so we watched a movie.
Tuesday- we Finished our video
Wednesday-
Investors and businesses lose millions. Thousands of banks fail-savings are wiped out. Businesses cut production- lay off workers. Unemployment rises- people out spending money. Great Depression sets in. Depression spreads to Europe and other parts of the world.
Causes of the Great Depression
Overproduction of goods. Under consumption of good by consumers. Agricultural slump in 1920's due to overproduction. High protective tariff policies of the 1920's. Taxes benefiting the rich-rich got richer, poor got poorer. Stock market crash. Banks closing.
Effects
New Deal programs start- makes the US government much larger. Deficit spending starts. The New Deal created many organizations that are still around today- social security, welfare. Fascists, military and communist dictators come to power throughout the world.
Vicious cycle of the great depression
Companies lose money so they lay people off. Unemployment rate goes up and less people buy goods as income has dropped. Companies profits fall so they have to lay more people off or close. Cycle repeats itself.
Gave loans to banks, state and local government, and businesses to create projects/jobs for people. Gave states loans for emergency relief needs. Started under Hoover. Not as successful as Hoover had hoped. Dissolved in 1946 after WWII
A lot of dam projects because it created a lot of money and more money was spent on them but they paid themselves off.
Thursday- No school
Friday- no school
Comments
I think you mean February not August.