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Great Depression
A severe worldwide economic depression that took place during the 1930s.
Bull market
One with an upward trend in stock prices.
Bear market
One with a downward trend in stock prices.
Margin Buying
Practice of buying stock with borrowed money.
The Banking Crisis
Many investors lost everything in the stock market crash and were unable to pay their bank loans causing many banks to close.
Gross National Product
The total value of all goods and services produced in a given year.
Global Depression
Massive war debts in European countries from World War I and the US stock market crash caused the world economic system to sink into a depression.
Business Cycle
The regular ups and downs in a free-enterprise economy.
Mutualistas
Mexican American societies that worked together to help each other during the Great Depression.
Breadlines
Lines of people who waited for free bread and soup from charitable organizations.
Shantytowns
Collection of makeshift shelters for the homeless constructed in the depression.
Herbert Hoover
US President during the start of the Great Depression.
Rugged Individualism
Hoover's idea that success comes through individual effort and private enterprise.
Bonus Army
10,000 World War I veterans and family members who marched on Washington D.C. demanding early payment of bonuses they were owed.
Franklin D. Roosevelt
Won the 1932 Presidential election over Hoover easily and promised a 'new deal' for America during his campaign.
New Deal
President Franklin D. Roosevelt's programs to pull the nation out of the Great Depression.
Brain Trust
FDR's group of advisors who advised him on his New Deal programs.
First 100 Days
The first 100 days of FDR's first term of President which saw many New Deal programs established.
Bank Holiday
Closed every bank in the nation for 6 days, designed to stop massive withdrawals.
Fire-side Chats
FDR's radio broadcasts to the nation, communicating plans, vision, instilling confidence in New Deal programs and the economy.
FDIC
Insured deposits up to $5,000, now up to $100,000.
HOLC
Designed to assist homeowners who could not pay their mortgage payments.
CCC
Civilian Conservation Corp. 2.5 million young men given jobs that focused on the environment.
AAA
Paid farmers to reduce their output to increase the value of these crops.
TVA
Transformed the economic and social life of an entire region hit by flooding and disease.
John Collier
Led the founding of the American Indian Defense Association.
Share-our-wealth
Proposed plan to seize money from the wealthy through heavy taxes and provide guaranteed income to every American family.
WPA
Works Progress Administration. Employed 8.5 million Americans.
Social Security Act
Provided unemployment insurance, pensions, and payments to people with disabilities.
Dust Bowl
Massive Dust storms due to soil erosion in the Great Plains region.