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