great depression
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Great Depression. By James Kim, Jongkyu Jong, and Edward Yom. Quote. "If, with all the advantages I've had, I can't make a living, I'm just no good, I guess." - An unemployed Texas schoolteacher, 1933. The great depression photos. By James Kim, Jongkyu Jong, and Edward Yom. - PowerPoint PPT PresentationTRANSCRIPT
Great Depression
By James Kim, Jongkyu Jong, and Edward Yom
Quote
"If, with all the advantages I've had, I can't make a living, I'm just no good, I guess." - An unemployed Texas schoolteacher, 1933
The great depression photos
By James Kim, Jongkyu Jong, and Edward Yom
The causes of Great Depression
The economy before
The “Roaring Twenties” The unemployment rate was lowStock prices were risingGross National Product rose
The collapse of the stock market
Stock prices sharply increased People began to invest more on the stock marketNumber of shares traded rose from 318 million in 1920 to more than 1 billion in 1929
The collapse of the stock market
People became aware of troubles in the economy.Rumors spreadPeople started selling their stocksBankers tried to prevent the collapse by buying stocks
Major factors
Bank FailureFarm FailureUnemployment
Bank FailureBanks lost financial resourcesNo deposit insuranceNervous depositors came for their moneyMore banks closed
Farm FailuresPeople could not afford foodsFarmers could not sell their goodsThe Dust BowlFarmers could not pay for land and equipmentFarms went bankrupt or suffered foreclosure
The Dust Bowl
Farm land became vulnerableDrought lasted for yearsWind storm stripped away top soils
Unemployment
After the crash, economic activity fellGNP fell more than 40% by 1933Unemployment reached 25%
The Impacts of the Great Depression on various groups
1.) Farm Owners
2.) Sharecroppers
3.) Tenant Farmers
Agriculture
Agriculture Cont.Consumer’s demand for food decreasedConsumer Spending on Food: $11.5Surplus of production led to decrease in farm pricesBy 1933, prices were down more than 50%Bankrupt and ForeclosureDust Bowl add a greater damage
Industry
Companies Industrial production failed
Companies were ruined
Corporate earnings have failed
The total market capitalization dramatically decreased
Industrial WorkersUnemployment rate increased (3.2% to 25%)
According to AARL, 17 million were unemployed
American FamilyEconomicallyHoovervilles - shantytownsEarnings:
no income 10 - 12 cents/day
SociallyMen Women Children
Ethnic and Racial Minorities
Social ProblemsRacial Discrimination (Prejudice)Violence
Severe Immigration restrictions
Return to their homelands
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