Causes of The Great Depression
Storyboard Text
- Overproduction-Industry
- I DONT KNOW!!!!!!!
- Whys no one buying our cars!!!!!!!!
- Overproduction-Farming
- Its okay well find a way we always do
- Nobody's buying the crops were going to lose the farm
- Speculation
- WERE IN!!!!!!
- As you can see toilet paper corps stock is up 200% in the last 3 days
- Companies began to go bankrupt because they were spending more then they were making in profits
- Buying on Margin
- So you would like a loan of 5,000 dollars?
- Farmers were growing crops nobody was buying leading them to not be able to repay their debts
- Shaky banking
- Sir unfortunately we do not have your money we ran out this morning
- People began to believe that stocks were a quick way to get rich. people would see other people buying stocks then the stock would go up even when the product were not worth it
- restrictions on international trade
- Here on the right we have apple from Europe costing 1 dollars a pound then on the left we have a apple from Florida costing 75 cents per pound
- This is when banks gave loans to people that couldn't pay the loans back resulting in banks losing other peoples money
- 100 dollars
- Yes sir!!!!!
- Sounds good to me lets go get your money
- How much are you willing to put down
- Banks would not have the money in peoples savings accounts this meant when people came back to withdraw their money the banks would run out of money then leading banks to fail
- HOW!? HOW DO YOU RUN OUT OF MONEY AT A BANK!!!!
- The US government began to have higher tariffs and began to put higher taxes on goods from other countries. This then led other nations to stop buying American goods leading the US to fall into more of a economic depression
- But they are the same thing?
- Yes I know but the government charges more tax for international goods
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