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Transcript of Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of...
![Page 1: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/1.jpg)
Pick up a sheet from the table in the back of the room.
Answer the questions on the half sheet of paper, indicating whether you agree or disagree with each statement.
Falcon Blaster
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Hoover to Roosevelt
Great Depression
![Page 3: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/3.jpg)
Should government provide a safety net for people when the economy fails them, and they cannot survive?
![Page 4: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/4.jpg)
What if there was no safety net for people at all?...
Food Stamps
Social Securit
y
![Page 5: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/5.jpg)
What if there was no safety net for people at all?...
![Page 6: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/6.jpg)
When the Stock Market crashed in 1929 and the Great Depression set in…many people had nobody to rely on but themselves. The government did not have any of the programs it has today (Food Stamps, Social Security, Welfare, Medicare, Medicaid). You only had yourself to look after you and your family.
![Page 7: Pick up a sheet from the table in the back of the room. Answer the questions on the half sheet of paper, indicating whether you agree or disagree with.](https://reader031.fdocuments.us/reader031/viewer/2022013012/56649f4d5503460f94c6e13f/html5/thumbnails/7.jpg)
1. Easy Credit/Rising Personal debt2. Speculation/Buying on Margin3. Overproduction4. Bank Runs
Causes of the Great Depression
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They mention some causes we don’t, there were MANY…we’re hitting the main ones
Causes of the Depression Video
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Easy Credit/Rising personal debt
People got easy credit to buy a lot of stuff (cars, appliances). When the market goes bad, they can’t repay their debts
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People took big gambles on Wall Street hoping to get rich quick
People made investments on borrowed money (buying on margin)
Speculation/Buying on Margin
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OverproductionAs supply goes up,
demand goes down. This means prices fall.
This happened to farmers with their crops, it happened to the auto industry and industries that depended on it (steel, rubber, glass, etc.)
Supply Demand/Price
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Bank RunsBanks depend on people
putting their money into them…they use that money to loan out and make money
When the market started to fall, people panicked and withdrew their money…banks go broke.
By 1933 – 11,000 of the 25,000 banks nationwide had collapsed
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Clip from “It’s a Wonderful Life”
Bank Run
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Great Depression stats25% unemployment
(today we’re at around 9%)
The US lost a total of $30 billion the week of the stock market crash
Hawley-Smoot Tariff Act
Reconstruction Finance Corporation
Herbert Hoover did very little…
Hoover’s Response
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Reconstruction Finance CorporationGave money to big
businesses, railroads, insurance companies
Purpose: prosperity at the top would “trickle down” to the rest of the population
Puts a tariff in place Taxes imported
goods (stuff from foreign countries) so that foreign goods are more expensive. Encourages people to buy American products.
Hoover’s responseHawley Smoot Tariff
Act
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Reconstruction Finance and Hawley Smoot Tariff basically do nothing for
people…
“Trickle-downTheory” reallydoesn’t work…
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People blame Hoover for their problems…
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Election of 1932…FDR promises a “New Deal”
Says he will support people directly through relief, recovery and reform