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2.1 Prosperity and crisis in the US (Roring twenties (start of Ford…
2.1 Prosperity and crisis in the US
Roring twenties
good economy
Mass production
lots of parties
start of Ford
Everybody could own a car
assembly line
new music
buying on credit
'live now, pay later'
stock market crash
summer of 29'
autumn 29'
consumer spending slowed
many feared that prices would drop
October 29'
Many people sold their stocks
banks lended too much money
it was the last straw that breaks the camels back
24th of October 1929
Black Thursday
stocks plummeted
people started selling stocks in panic
made it go lower even faster
economy went bad
Hoover policy
do nothing
let the problems solve itself
1 more item...
got out of hand
1930 crisis
bad economy
unemployment
debts
companies, farmers and banks went bankrupt
homeless people
slums
Hoovervilles
the Great Depression
America increased import tax and bought less goods
spread to the rest of the world
solution
New president
Roosevelt
The New deal
invest
new government intervenen
battle unemployment
constructions of roads, dams and Forrests
better control of banks
wages and working hours improved
wealthy America didn't return