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Germany defaults on reparations
Germany paid off the first payment of The Great War. America noticed Germany stopped paying their duesm mots likely due to the condition of their country after the war. -
Stock market crash
A while later the stock market crash. Black Tuesday wall street and that basically cleared a lot of investors, many people went broke because of hit. -
Banks Fail
During the great depression Banks were failing and closing at an alarming rate. President Roosevelt even put them on a 3 day holliday. An average of 70 banks failed each year. 744 banks failed in the first 10 months after the stock market crashed. by 1933, depositors saw $144 billion dollars disappear through bank failures. -
lower demand and wages; unemployment
In 1933 25% of all workers and 37% of all non farm workers were completly out of work. Lots of peoples starved and many lost their farms and homes. -
Workers Laid off
Since companies weren't getting any money from customers, they didn't have a need for so many workers. Employers started letting people go. About 15 million Americans were left unemployed, half of the country. -
Consumer purchasing fails
Since people were unemployed, they stopped buying unecessairy items. Some didn't even have enough to but what they needed, then ended up wearing sacks as clothing
