The Great Depression
Texte du Storyboard
- 1: The Stock Market Crash
- The Great Depression begins!
- Stock Market
- 2: Bank Runs
- We want our money now!
- 3: Struggling Farmers
- Dust Bowl = No Crops
- In 1929, the Stock Market Crash shook everyone. The stock market crashed due to "over speculation", where the stocks become more valuable than the actual company selling them. This crash marks the beginning of the Great Depression.
- 4: Easy Credit
- With credit, you can, and should, buy everything!
- Buy Everything HERE!!
- But everyone's going in debt because of it!
- After hearing the news of the stock market crash, thousands of people rushed to the banks to withdraw their account savings. The banks however, couldn't keep up with all of these withdraws, leading to over 10,000 thousand banks failing, as well as even more people losing their life savings.
- 5: Overproduction
- WHAT!?
- Boss told us to stop producing!
- Farmers have already been struggling prior to the Great Depression, and this is because of the new machines producing more crops, leading to a decrease in prices for the farmers. This got worse for them during the Great Depression, along with the Dust Bowl, a drought that caused dust storms, destroying hundreds of acres of farmland and crops.
- 6: World Debt and Trade
- We're removing high taxes on shipments!
- But we won't make any money, and our economy will fail!!
- During the Roaring Twenties, people were convinced that they could buy anything with credit, and they did. But, during the Great Depression, a lot of people went into debt by purchasing items they couldn't really afford.
- Now with mass production, factories began producing more than they were selling, which made the factories hold a lot of workers from producing as much, which led to the start of thousands of unemployments.
- The Great Depression affected the entire world, this was because America loaned a lot of money to the countries who helped them in the war. During this time though, the countries couldn't repay America, leading to everyone struggling. This was also paired with the new Smoot-Hawley act, which stopped people from placing high taxes on products being shipped. This hindered trade across the world, and caused the economy to slow down even more.
- We can't pay you back yet!!
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