FC: The Great Depression
1: What Caused the great depression? In the 1920's the stock market was booming, people were investing their money and also money they loaned from the bank into stocks. Things in America seemed great, new inventions were sweeping the nation and people were buying them creating more jobs. But this all was short lived, because on Tuesday October 29th, 1929, the stock market crashed.
3: The stock market crashing was a huge problem because people invested so much of their money in the stocks. And people that took loans out of the bank to invest it in stocks could no longer pay the bank back. People also were buying things on credit that they knew they couldn't afford and got in to major debt. Do to the massive amount of debt people had with the banks, many banks went bankrupt.
5: How long did the depression last? The great depression lasted about 12 years.
6: What was life like during the great depression? Life was hard and very stressful people had no idea where their next meal was coming from, let alone where they would find a job. | Many people lined up outside of buildings waiting for food that that the government was supplying. There were jobs to be found, the unemployment rate was around 25% which was extremely high. Many people hear of the term hobo but don't know what it means. A hobo was mostly men that would run away and live from place to place mainly in barns and trains because they could no longer provide for their families.
8: Who was affected by the great depression? Everyone was affected by the great depression in one way or another. | The rich were affected because most of the people that were rich were business men, who owned industries, but if you don't have people buying your product and can't pay your workers you have a problem. The middle class went to poor and could barely support their families as times got harder. The poor class, became poorer and many of the children that were poor in this time period starved to death.
10: How did the great depression end? The were many things that ended the great depression. | 1. Was FDR's new deal that made jobs for the unemployed. 2. Inflating the money that came in so that it was worth more. 3. The government didn't take on anymore debt. 4. Surprisingly World War II, helped the economy by creating jobs. 5. Letting the depression work its way out, because sometimes doing less is better than doing more.