The Great Depression Chapter 9 – Section 1.

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Presentation transcript:

The Great Depression Chapter 9 – Section 1

CH.9 Great Depression 1929 - 1932 Sec.1: Causes of the Great Depression - High stocks, overproduction & high tariffs, un even distribution of wealth and mistakes bade by the federal reserve led to the Great Depression Sec.2: Life During the Depression - A look at how people came to deal with the hard times during the depression Sec.3 Hoover Responds - Hoovers philosophy of government guided his response to the Depression

Big Idea Following the presidential election of Herbert Hoover, most Americans were optimistic about the country. Stock prices were soaring as many people invested their life’s savings. As fewer people invested in the market, the market began to slow and finally in October 1929, the stock market crashed and with several other factors, the country fell into the what is known as the “Great Depression”.

Stock Market Stock = System of buying and selling shares of companies Buying Stock = Investing in a company You can buy a piece of any company on the market and be a % owner. Stock Market

Bull Market 1920’s Market = Bull Market Bull Market = long period of Rising stock prices (Bear Market = period of Falling stocks) 1920’s prolonged bull market led many people to invest everything Over 3 Million investing in market Buyers engaged in “Speculation” – taking big risks – betting the market would continue to go up

Buying on Margin / Margin Call Many investors began to buy on margin Buy stock for only 10% of value Remaining balance carried by stockbroker Broker charged interest & commission If stock price fell, broker placed a “margin call” to you!

Changing Market Bull market lasted only as long as people invested in it By 1929 market was running out of new investors Heavy investors sensed danger and began to sell off stock hoping to minimize loses.

The Crash Oct. 21, 1929 market was starting to fall – Major Margin Calls Oct. 24 (Black Thursday) Market fell further Oct. 29, (Black Tuesday), Market Crashed – Stocks lost $10 – $15 Billion dollars in value By Nov. 1929 – over $$$30 Billion was lost Calculator

Banks in Tailspin Market Crash weakened banks 3 ways: 1. loaned $ to speculators 2. Invested deposits 3. Bank Runs No protection for people savings or checking Banks forced to close Over 3,000 banks closed

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