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Bellwork :. Compare the money I hand out to you! Is all the money the same? What nation(s) do you think the money is from? Based on what you may or may not know about the topic we are covering today, trade/swap currency if you wish!. What’s so Great about a Depression?. - PowerPoint PPT PresentationTRANSCRIPT
Bellwork:
• Compare the money I hand out to you!• Is all the money the same?• What nation(s) do you think the money is
from?• Based on what you may or may not know
about the topic we are covering today, trade/swap currency if you wish!
What’s so Great about a Depression?
• Began with crashes of the London Stock Exchange & NY Stock Exchange in Autumn ‘29
• Investors lost confidence & pulled their money out of the market
• U.S. banks had invested heavily in the stock market, so many banks failed after 1929
• U.S. bank loans to Europe halted, spreading the crisis• Failed investments & banks halted industrial
production, which decreased employment
Most $ became worthless!
U.S. Unemployment
German Unemployment
German GDP
Other stats
• Dow Jones Industrial Average went from 381 points in 1929 to 42 points in 1932
• The US GDP fell 50% from 1929 to 1933• In the 1930s, more people emigrated from the
United States than to it• Families increasingly could not afford basic items
like food, shelter, & clothing• Interesting note: the USSR did NOT experience a
depression in the 1930s (sort of....)
Breadlines
German breadline
Rise of Fascism
• The instability of the ‘30s led people to turn to radical causes
• This is especially true in Italy & Germany, as Mussolini & Hitler rose to power
• Hitler becomes Chancellor of Germany in 1933