Depression Outline

I Intro

Although the United States had experienced several depressions before the stock market crash on October 27, 1929, none had been as severe or as long lasting before "Black Tuesday" struck Wall Street. At first, economists and leaders thought this was a mild bump, perhaps merely a correction of the market, or in any case, no worse than the recession the nation suffered after World War I.

II Causes (The causes of the great depression were __over speculation______, __Government policy_____, __unstable economy______)

A Over speculation (Define, how important)

-stock market booming! people buying on margin!borrow money against future value of stock! margin call- people must pay debt, important because it leads to speculation

B Govt Policy
C Unstable Econ

1 Uneven prosperity

2 Overproduction- the government loaned too much money to businesses during the "boom times", leads to businesses over expanding and owing a lot of money they don't have to the government 

3 Worker issues / farm issues- farmers began farming a lot more after the war which led to too many crops so the price dropped ("inflation"), farmers began losing money which effected the economy

III Effects

A Poverty- after the stock market crashed many American were in debt, couldn't pay mortgages- on the streets, very poor, soup kitchens were the only way many family could be fed

B Society- majority of Americans were in debt and poverty stricken, very bad economy, entertainment industry became a huge part of American lives

C World- the economies of countries involved in trade with America all became very bad, America couldn't trade with countries, countries went into debt and could no longer could provide to America either

IV Solutions

A Hoover- republican president, favored prohibition, was not popular among American citizens towards end of presidency 

1 Volunteerism- Hoover organized conferences with bank presidents, railroad owners, and other big businesses, on pledges to keep factories open

2 Public Works- government financed building projects, increased construction, government would potentially need to raise taxes to support these projects, this hurt struggling businesses

3 Hawley Smoot- raised enormous tariffs, aimed to protect manufacturers from foreign competition, led to decrease in trade

4 RFC- Reconstruction Finance Corp., gave loans to banks, agriculture, railroads, didn't increase loans enough to meet the needs, economy continued to decline

B Roosevelt- democrat president, suffered from polio as a child, developed the new deal- policy to end depression, many started to oppose new deal, started deficit spending, new deal ended in 1939

1 New deal- Roosevelt's policy to end depression, thought to be too much by conservatives, thought to be not good enough by liberals, ended in 1939

a Alphabet soup

            SEC- securities and exchange commission, regulated stock market

            FDIC- federal deposit insurance corp, provided government insurance for bank accounts

            AAA- agricultural adjustment agency, administered farm programs, payed farmers to use             certain farming tactics

            HOLC- homeowners loan corp, bought mortgages of homeowners behind on payments

b Criticsim?- liberals felt the new deal didn't do enough, conservatives felt the new deal did too much

2 2nd new deal

a Roosevelt began deficit spending

b ALL, WPA, and NLRB formed

c social security act passed

V Criticicism

B Political Criticism (ex. Came from both the ______liberals______ and _____conservatives_________)

A Conservatives- republicans, thought new deal went too far

B Liberals (ex: criticised the new deal also. They....)- tried to create a new political party, thought new deal didn't go far enough

VI Effectiveness

A Changes in US- introduction to entertainment- escape from depression, new securities and safety nets developed

B Unions- 

C Culture

VII Conclusion- the stock market crash sent America and the countries it traded with into an economic crisis, it left many US citizens homeless and hopeless and was a dark time for America. Even though the Depression was a tragedy, the outcome of social security and safety nets was a positive outcome of the dark days and has made America stronger and more prepared for future economic collapses.

Radio Show- News Script

Good evening and welcome to the six o clock news.  I'm Stephanie Campbell alongside my partner Claire Clark here to bring you updates on top stories, sports, and upcoming weather.  We have just received an update on the trial of gangster Al Capone and the St Valentines Day massacre.  For those of you that don't know about this event, the conflict involving the two gangs, the North Side Irish and the South Side Italian- the latter being led by Al Capone- escalated when they clashed during the annual Valentine's Day Parade in Chicago. The conflict resulted in the deaths of five North Side Gang members caused by the gunfire of who they believe are members of Capone's gang.  Capone was accused of leading his gang during this battle but recent news reveals that Capone was seen by many witnesses in Florida at the time of the Massacre.  The verdict is still to be decided on the gangster's punishment but for now it seems he will be free of charges.  In other news, automobile sales are at an all time high with over half the nation in possession of these vehicles.  The future looks promising for the car and new ways of transportation.  Sports and a look at your local weather is up next after a message from our sponsor.

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Radio Show- Sports Script

Welcome back.  I'm Claire Clark bringing you the latest information in the world of sports.  Our biggest story tonight, Babe Ruth, continues to dominate and change the sport of baseball.  Batting a .345, Ruth continues to excel in getting on base and will end the season with a total of 154 RBIs, almost 500 at bats, 121 runs, 172 hits, and 46 home runs.  The Yankees finished their season last Friday night with a respectable 88-66 record.  The Bambino continues to impress in all aspects of the game.  His career has, and will most likely continue, to be one of the best baseball has ever seen.   I can almost guarantee you this man will be in the hall of fame in the next 7 years.  

And now a look at your weather for the week.  We are expecting to see temperatures to rise a bit as we warm up to 80 degrees by Sunday, but there is a possibility we could see a few possible storms trickle in but he beginning of next week.  Overall it's looking like a good week with highs arching into the mid-upper 80s with the lows only cooling down to around the mid 60s so put those comforters away!  That's all for today, I'm Claire Clark hoping you all have a great day and we hope you'll join us tomorrow night for the six o clock news!