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THE GREAT DEPRESSION, Financial speculation - Coggle Diagram
THE GREAT DEPRESSION
CAUSES
Economic boom of the 1920s
New inventions
Electricity
Cars
Fridge, washing machine, ecc..
Key sectors: oil, iron, rubber
Financial instability
Agricultural crisis
Stocks prices collapse
BLACK TUESDAY (29 october 1929)
Banks started to close
People lost all their saving
CONSEQUENCES
On society:
Increase of unemployement
Hunger and poverty
Increase in suicides
On economy:
Factories had to close
Production collapsed
The crisis extended in Europe
NEW DEAL
Franklin Delano Roosevelt (1932)
Public works to increase employement
Roads
Schools
Hospitals
Banks reopened
Improved social security
Rules to the Wall Street stock market
Production growth
Financial speculation
"But now, pay later"