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Great Depression (buying on credit (low wages, people bought stocks with…
Great Depression
buying on credit
low wages
people bought stocks with borrowed money
speculation
people gambled on the stock market
stock market grew
Black Thursday
13 million shares sold
people afraid they will loose their money
Black Tuesday
Wall street crash of 1929
stocks value droped sharply
share our wealth founded
to help unemployed and homeless
taxed the wealthy
dust bowl
Dust storms bring dust from Texas to Oklahoma destroying crops
not enough food for people
Major Bank Collapse
bank raids
banks not having enough money to give people
WWII begins
creates jobs for unemployed
literally pulls us out of the depression
smoot-hawely tariff
increased tax on imports to protect american business
Europe in deeper debt
deflation
wages went down
price of goods went up