1. History Minute Chapter 6 Michael Finazzo, Brian Sierotnik

2. Great Depression Began with the collapse of the stock market in October 1929 There was a four year period of denial between 1929-1933 There have been as many as 47 recessions in American history, the latest occurring in late 2007 through 2009

3. “Quiz” Question What event marked the beginning of the Great Depression A)Prohibition B)Collapse of the stock market C)War D)Social Security

4. Social Welfare Problems during the 1930’s Stock Market Crash led to financial crisis: -Massive unemployment - Depressed stock prices -Lost fortunes/savings- Bankrupt companies No tangible government welfare system to speak of: -Hoover believed in private agencies & local governments to provide relief and “trickle-down” economics. Contradictory forces which tempered early reform policies: - FDR had strong support from middle and working class, but opposition from both political parties.

5. “Quiz” Question What approach best exemplifies the US government’s social welfare policy entering the 1930’s? A)All for one, and one for all (Three Muskateers) B)Take from everyone, and give to the poor (Robin Hood) C)Stuffing any extra cash into your mattress at the end of each day D)Reliance on private agencies and “trickle-down” economics to provide relief