The Great Depression – Prior Knowledge
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Lack of money – DEFLATION
WWII – pulled us out of The Great Depression
Hoover is president at the start; FDR during 1932-1944
Sudden drop in the economy – Debt bubble pops
African-Americans hit hardest – first fired, last hired
Prohibition is in effect at the start of the Great Depression
Banks collapsed – Banks were not insured. NO FDIC
Low quality living – shantytowns / Hoovervilles
Hoover didn’t react properly; did too little
Smoot-Hawley Tariff Act – made things worse
VIDEO CLIP: Life in The Great Depression
https://www.youtube.com/watch?v=gkAfjRolNCI
Five FACTS: