The Great Depression and the 1930s. Stock Market Crash (Oct. 29, 1929)
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Transcript of The Great Depression and the 1930s. Stock Market Crash (Oct. 29, 1929)
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The Great Depression and the 1930s
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Stock Market Crash (Oct. 29, 1929)
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Problems with the Economy
• Stock Market fell 80%
• Industrial output fell to 50%
• Unemployment at 25%
• National income fell more than 50%
• Agricultural income fell more than 50% – And this from an already depressed state
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Hoover’s Policies
• Reconstruction Finance Corporation
• Agricultural Marketing Act
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THE NEW DEAL
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1933-1945
Franklin Delano Roosevelt
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3Rs
• Relief, Recovery, Reform
• 1933-35 – Relief/Recovery
• 1935-36 – Recovery/Reform
• Trial-and-error/Pragmatism
• “Priming the Pump”
• Work Fare
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THE DUST BOWL
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The Dust Bowl (1931-1939)
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Dust Bowl Migration
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Okie Migration
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BAKERSFIELD SOUND
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Merle Haggard
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Buck Owens
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Dwight Yoakum