FC: The Great Depression 1929 - 1941
1: The roaring 20s were a time of great wealth and uprising of businesses and economic health. | The economy was growing rapidly and uncontrollably. | Everyone figured that this was very good for the country, and we should continue to urge it to grow.
2: Unfortunately, this was not the case. As the bar got higher and higher, it became more and more unstable. Eventually, there had to be a tipping point. As business cost became an all-time high, the stock market suddenly imploded upon itself.
3: The crash of the stock market lead to a huge amount of money lost, resulting in businesses and banks failing. All around the country as well as internationally, economic chaos had arisen.
4: Those that were able to keep their jobs had to work extra hard to try and rebuild the economy, but many were left unemployed due to companies closing or not being able to pay workers.
6: Many people were forced to live on the streets and create their own homes.
7: Essentially everyone at the time was affected by the depression. Business owners had to cut wages and work harder; Workers had to work harder to support their families and also reduce spending to save money.
8: Everyone was trying to save money, causing businesses to lose sales, in effect money.
9: When people started to calm down a little bit, and really look at where things went wrong, they started to realize what happened and what was needed to fix it. | With Franklin Roosevelt in office, the country was start to put back together. FDR proposed a series of acts and programs all under a grand reconstruction called the New Deal.
10: Among the 15 relief and recovery measures taken during the New Deal were a bank holiday; | the development of the FDIC, CCC, SEC, AAA, and the TVA and other actions taken to help the depression.
11: All these things started to restore America’s confidence and lead us back onto the right track.