Impacts of the Great Crash in the U.S. (Unemployment (the government…
Impacts of the Great Crash in the U.S.
The economy shrank 50% in the first 5 years of the depression
New Deal spending boosted GDP growth by 10.8 percent in 1934. It grew another 8.9 percent in 1935, a whopping 12.9 percent in 1936, and 5.1 percent in 1937.
By 1933, the country had suffered at least four years of economic contraction.
the socialist party became known during the Great Depression
there were about 125,00 members in the party
it was established by German immigrants in the U.S.
peaked between 1900 and 1912
bank robbery was a skyrocketing crime
Ex) Bonnie Parker and Clyde Barrow
the 18th amendment led to the illegal creation and sale of alcohol
after prohibition, gangs turned to loan sharking
usually led by gangs
well-known crimes were bootlegging, bank robbery, loan sharking, and murder
people couldn't do anything about unemployment but face it
the government focused on farms, labor unions, and taxes
this was bad for the jobs
with no money coming, no jobs could be created
this caused the unemployment rate to rise
this caused many people to stop buying and making investments
this was a result of no financial income
Fall in Prices
the Great Crash had a significant impact on stocks
stock prices dropped drastically
Ex) $100 to $3
this migration peaked during the Dust Bowl
people migrated to the west coast
during the Great Depression, 1929-1933, the U.S. gaines $386.4 million
with the New Deal Recovery and Recession, the U.S. gained $493.3 billion between 1934-1939
Roosevelt's New Deal gained $84.6 billion between 1933-1939