Great Depression

How Bad Was It?

The Great DepressionThe Great Depression

100,000 businesses failed.

Stock values fell from $89 billion to $15 billion.From 381 to 41. $74 billion was lost.

25% unemployment rate [15 million](125 million

in the U.S.) [Unemployment was 3% in 1929.]

Unemployment stayed above 14.3% from 1931-1940. Average unemployment was 18%

10,797 banks failed out of over 25,000, taking the life savings of 9 million people.

In some cities, girls danced only for 10 cents.

333,000 could not go to school. Many schools wereopen only three days a week for eight months.

One million lost their homes. Housing starts dropped 90%.

GDP dropped from $104 billion in 1929 to $56 billion in 1933.

““That will That will be .10”.be .10”.

“Don’t thank me. Thank God someone asked you to dance.

“I didn’t say, ‘Would you like to dance,’ I said, you look fat in those pants.”

The Great Depression The Great Depression was so bad that when was so bad that when Bonnie Bonnie andand Clyde were shot, [Clyde’s body had Clyde were shot, [Clyde’s body had 187 bullet holes and Bonnie’s body had 52 187 bullet holes and Bonnie’s body had 52

bullet holes] that morticians complained that bullet holes] that morticians complained that they couldn’t hold embalming fluid.they couldn’t hold embalming fluid.

Their “death hats” wereTheir “death hats” wereauctioned for $32,000.auctioned for $32,000.

Clyde’s “death shirt”Clyde’s “death shirt”auctioned for $85,000auctioned for $85,000

““Death car” Death car” w. 160 bullet holes w. 160 bullet holes

auctioned for $250,000.auctioned for $250,000. 1967 “Movie Death car” 1967 “Movie Death car”

Many Many of theof the bullets bullets went went thruthruthe car door, Clyde’s body, the car door, Clyde’s body, Bonnie’s body, Bonnie’s body, then then out out the the

other side of the death car.other side of the death car.TThe he “32 Ford”“32 Ford” & & “ “5757 CChevy” hevy” are theare thecornerstone cars cornerstone cars of theof the hot-rod business. hot-rod business.

And – the Chrysler 300And – the Chrysler 300

Apple sellers could make $1.15 profit on 72 sold apples.

Many factory wages went from .55 an hour to .05 an hour.

Agriculture collapsed.

Prices and wages dropped around 25%.

Factory production dropped 50%.

Auto production fell from 4.5 million cars in 1929 to 1.1 million in 1933.

Those who checked into hotels were asked,“For sleeping or jumping”?

“For Sleeping or jumping?

Dust storm approaching Stratford, Texas - 1934Dust storm approaching Stratford, Texas - 1934

THE DUST BOWL

Storm approaching Elkhart,

Kansas in 1937

Dust buried cars and wagons in South Dakota in 1936

HARDEST HIT REGIONS

• Kansas, Oklahoma, Texas, New Mexico, and Colorado were the hardest hit regions during the Dust Bowl

• Many farmers Many farmers migratedmigrated to California and other Pacific Coast statesBoy covers his mouth to avoid

dust, 1935

Photographer Dorothea Lange captures a family

headed west to escape the dust storms

YearYear UUnemplnempl Real GDPReal GDP “C”“C” “Ig”“Ig” “G”“G” In.In. RRateate InflationInflation19291929 3.23.2 203.6203.6 139.6 40.4 139.6 40.4 22.022.0 5.95.9 ___ ___19301930 8.98.9 183.5183.5 130.4 27.4 130.4 27.4 24.324.3 3.63.6 -2.6-2.619311931 16.316.3 169.5169.5 126.1 16.8 126.1 16.8 25.425.4 2.62.6 -10.1-10.119321932 24.124.1 144.2144.2 114.8 114.8 4.74.7 24.224.2 2.72.7 -9.3-9.31933 25.21933 25.2 141.5141.5 112.8 112.8 5.35.3 23.323.3 1.71.7 - 2.2- 2.219341934 22.022.0 154.3154.3 118.1 118.1 9.49.4 26.626.6 1.01.0 7.47.419351935 20.320.3 169.5169.5 125.5 18.0 125.5 18.0 27.027.0 0.80.8 0.90.919361936 17.0 17.0 193.2193.2 138.4 24.0 138.4 24.0 31.831.8 0.80.8 0.20.219371937 14.314.3 203.2203.2 143.1 29.9 143.1 29.9 30.830.8 0.9 4.20.9 4.219381938 19.1 19.1 192.9192.9 140.2 17.0 140.2 17.0 33.933.9 0.80.8 -1.3-1.319391939 17.217.2 209.4209.4 148.2 24.7 148.2 24.7 35.235.2 0.60.6 -1.6-1.61940 14.61940 14.6 227.2227.2 155.7 33.0 155.7 33.0 36.436.4 0.60.6 1.61.6

Great Depression StatsGreat Depression Stats [In 1958 dollars] [In 1958 dollars]

-30-30%% -20-20%% -87-87%% -23-23%%