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Herbert hoover
Hoover’s plan to attack the Great Depression had as its backbone tax cuts and public works projects: keep more money in people’s pockets, and keep people working. It did not help the economy at all, and Hoover watched businesses closed their doors and Americans sank into poverty. He also made a critical mistake in signing into law the Smoot-Hawley Act, which raised taxes on imports and prompted foreign nations to turn their backs on American-made goods when the country desperately needed sales. -
unimploynment
As early as March 1929 a few financial experts warned that banks were making too many loans for stock speculation (the buying and selling of stock without regard for its actual value or the strength of the individual company). The Federal Reserve, the U.S. central bank, tried to rein in the country's banks but with no success. Several leaders of industry also noticed that unemployment was quietly on the rise. Nevertheless, despite a few warnings, the stock market headed up and up. -
black tuesday
Black Tuesday was the fourth and last day of the stock market crash of 1929. It took place on October 29, 1929.They lost $14 billion on the New York Stock Exchange, worth $199 billion in 2017 dollars. They lost more money than usa used on WW1 -
dust bowl
dust storms during a dry period in the 1930s. As high winds and choking dust swept the region from Texas to Nebraska, people and livestock were killed and crops failed across the entire region. The Dust Bowl intensified the crushing economic impacts of the Great Depression and drove many farming families on a desperate migration in search of work and better living conditions. -
buying on margin
Buying on margin is borrowing money from a broker to purchase stock. You can think of it as a loan from your brokerage. Margin trading allows you to buy more stock than you'd be able to normally. To trade on margin, you need a margin account. This is different from a regular cash account, in which you trade using the money in the account -
supply demand(laws)
Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the main model of price determination used in economic theory. -
debt, farmers
President Calvin Coolidge took little interest in the farmers' problems. He dismissed the difficulties, saying that farmers never made money. Efforts in Congress to protect U.S. farmers from foreign competition failed. As a result the farmers' situation worsened throughout the 1920s. Farmers had to borrow to buy seed and equipment. Most took out loans against their land and homes. But food prices continued to fall, and by the late 1920s many U.S. farmers were
hopelessly in debt. -
industrial overproduction
Farmers struggled with low prices all through the 1920s, but after 1929 things began to be hard for city workers as well. After the stock market crash, many businesses started to close or to lay off workers. Many families did not have money to buy things, and consumer demand for manufactured goods fell off. Fewer families were buying new cars or household appliances. People learned to do without new clothing. Many families could not pay their rent. -
Franklin Roosevelt
Franklin D. Roosevelt was in his second term as governor of New York when he was elected as the nation’s 32nd president in 1932. With the country mired in the depths of the Great Depression, Roosevelt immediately acted to restore public confidence, proclaiming a bank holiday and speaking directly to the public in a series of radio broadcasts or “fireside chats.” -
bank holiday
nor shall any such banking institution or branch pay out deposits, make loans or discounts, deal in foreign exchange, transfer credits from the United States to any place abroad, or transact any other banking business whatsoever.” For an entire week, Americans would have no access to banks or banking services. They could not withdraw or transfer their money, nor could they make deposits. -
New deal
Over the next eight years, the government instituted a series of experimental projects and programs, known collectively as the New Deal, that aimed to restore some measure of dignity and prosperity to many Americans. More than that, Roosevelt’s New Deal permanently changed the federal government’s relationship to the U.S. populace. wanted people to spend money not save it!!!! -
WW2
Second World War was the most widespread and deadliest war in history, involving more than 30 countries and resulting in more than 50 million military and civilian deaths (with some estimates as high as 85 million dead). Sparked by Adolf Hitler’s invasion of Poland in 1939, the war would drag on for six deadly years until the final Allied defeat of both Nazi Germany and Japan in 1945.
