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Great Depression (Black Tuesday (Big blow out from build up of ignorance,…
Great Depression
Black Tuesday
Big blow out from build up of ignorance
Engine lights deflation and credit built up
Unemplyment
There was no work for anyone
Farmers were being paid not to grow crops because they had so much
Debt
No one had any money to pay off the loans they had barrowed
They had gambled with money that they didnt have
Dust Bowl
Farmers could not produce any crops
Thousands of farmers migrated to CA for work
Deflation
Farmers suffered greatly because they could not get as much money for their crops to make a living
Prices of goods went down
Speculation
People saw the problems ahead, but did nothing about it
Prediction of the stock market crash
Buying on credit
Everyone was in debt because they had bought everything with credit
Buy Now, Pay Later
New Deal
Laws that would help rebuild our country