Great Depression

Mer av detta

Late 2000s Financial Crisis

av Mindomo Team

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av DT - 07GS 760413 Centennial Sr PS

ONU

av Alberto Carbone

macroeconomics

av charlotte deegan

Great Depression

Government Response

Roosevelt began a lot of government works programs like the TVA.

Roosevelt did not feel like Hoover, he felt the government should create government jobs for the citizens.

Hoovervilles popped up all over with families having no where else to go.

Hoover did not feel the government had a responsibility to the people who had lost their homes and jobs.

President Hoover felt the government should let the market correct itself.

Bank Collapse

Factories cut back as a result of no capitol, Unemployment soared.

Those who had money held on to it, those without money had no means of getting any.

No money was in the banks meant no money for loans, banks recalled all of their previous loans due.

With everyone taking their money out of the banks, the entire banking system collapsed.

After the stock market crash everyone ran to the banks to take out their money.

Families

natural death and suicide increased as parents found it impossible to provide for their families.

health care became non-existant for many families.

familes had to pick up and move to new locations like California where jobs might be found.

families lost their homes and their farms.

fathers lost their jobs and the means to provide for their families

Unemployment

with consumption in every market reduced, employees no longer needed.  Layoffs soared.

loss of confidence in the American Economic System was prevalent.

with so many out of work and , no money in the banks, farmers began to loose their farms due to their loans payments being called for.

Every area of job market saw massive increase in unemployment.