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What caused the Great Depression?
- Stock speculative fever. Millions of shares were bought on margin.
- Debt. Introduction of personal credit. Large bank loans to post WWI Europian countries.
- Pride (most Americans believed that the US was so wealthy and powerful that it could not fall)

What were some warning signs before the depression?
- Deflation
- Falling production
- Increasing unemployment

When did the stock market crash?
October 24, 1929 (Black Thursday) - DJIA fell 9%
October 29, 1929 (Black Tuesday) - DJIA fell 17.3%

What occurred during the depression?
- Between 1929 and 1933, 100,000 businesses failed
- By 1933 11,000 of the U.S.'s 25,000 banks had failed
- By 1932, 25% unemployment
- Over the four years from 1929 to 1933, production at the nation's factories, mines, and utilities fell by more than half
- People's real disposable incomes dropped 28 percent
- Stock prices collapsed to one-tenth of their pre-crash height
- The gross national product declined from the 1929 figure of $103,828,000,000 to $55,760,000,000 in 1933

What resulted from the Great Depression?
- Increase of federal government (Social Security Act, SEC, FDIC)
- Rise of Adolf Hitler to power. The depression cut off loans that Germany depended on to pay for war reparations. Rise in unemployment caused Germans to look for a new leader.

What ended the Great Depression?
- It was not the governmental acts that ended the depression, it was WWII (Pearl Harbor attacked on December 1941)


Links
Google Links
Yahoo Links
SearchBeat Links

Great Depression - SparkNotes
America's Great Depression - Amatecon
Great Depression - Encarta
Wikipedia
Sliding into the Great Depression - Brad DeLong
Timeline of the Great Depression - PBS
Timeline of the Great Depression - Korpios
Photos - Library of Congress
Learning Bank: 30s - FDIC
Homes and the Stock Market Crash of the 1930ís
The Main Causes of the Great Depression - Gusmorino
Culture during the Depression
Great Myths of the Great Depression - Mackinac
Crash of 29 - NY Times
1929 - 32 DJIA Crash vs. 2000 - 01 Nasdaq Crash - Chart of similarities
Great Depression - Infoplease
1921-41 DJIA Chart
Economic Indicators of the Great Depression
1927-1933 Chart of Pompous Prognosticators

Posted: 2002-07-09 16:28:28


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