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International Economy Fails
In 1932, more that half the world closed into imports of foreign goods. This stopped a large volume of international trade. All these countries sought to protect their land, and their domestic production with higher tariffs. -
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Consumer Purchasing Falls
Towards the ending of the year 1929, stock markets crashed which caused share prices to fall.
Workers became unemployied so consumers spend less money, buisnesses produces goods that weren't being purchased so buisnesses cut production which resulted in more unemployment. Unemployment meant no money for or food for families. -
Workers Laid Off
Workers were laid off, because their were no buisnesses or customers to buy from. This gave a 20% unemployment rate in America. -
Agricultural Prices Bottom Out
In 1929, President Hoover dubbed this dustbowl disaster a "Depression." With the oncoming dustbowl, many farms weren't growing anything. No crops, meant no way to sell their crops. The crops that could be grown, were either weak, and almost worthless during this time. -
Stock Market Crash
The Great Depression is said to have begun on a morning of October, 1929. With stock-market prices plummeted. This wasn't the end though, for the next THREE years, their prices continued to fall, they all dropped almost 20% of their value by 1932. -
Savings, Homes Buisnesses, and Farms Lost
Farmers began losing money because of falling prices for their crops. Then no rain fall made it so there wasn't any crops growing at this time.
Buisnesses failed because of the lack of production. Production was not needed because their were no consumers buying.
Saving were lost because banks went bankrupt and all of people's savings were lost. -
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Banks Failing
At the start of 1930, 744 banks failed nationally, this is 10 times more than a regular year. Altogether, it's estimated that 4,000 banks failed during 1933.
