modern history bubububuuaughjdiedo HIUSTORICAL INQUIRY

whhy is he standing in so many political cartoons he was in a wheelchair

CAUSES OF THE GREAT (not so great depression)

decline of the agricultural sector

one of the causes of the great depression — dust bowl in rural america, therefore droughts. farms had also become highly industrialised and so farmers were churning out more but for less profit. farmers going bankrupt.

decline of small business

one of the causes of the great depression — smaller businesses were getting consumed by larger ones.

growth of big business

one of the causes of the great depression — greedy little dirtbags. since there was massive businesses in a small quantity, this left most of the market in their control. had 22% of national wealth, maintained low wages and long working hours for employees.

uneven distribution of wealth

one of the causes of the great depression — households and regular people poor, cannot afford due to the fat white guys upstairs. rich are getter richer and poor getting poorer. increased consumerism puts more money into the pockets of businessmen.

speculative investment

one of the causes of the great depression — people investing in properties and other stocks in hopes of prices skyrocketing so they could make a fat ass profit, but prices plummeted dramatically on the day of the stock market crash in 1929. investors in business didn’t have produce to sell so there was no money coming in. this also increased debt as people were using credit to buy shares.

the us as a creditor nation

loaning money to countries after ww1, european countries such as the uk and germany cuz they were fucking poor.

high import tariffs

the us wasn’t buying goods overseas, and other countries weren’t buying produce from the us. farmers going even more broke, most international economic activity stopping. everything’s too expensive.

RESULTS

high inflation

everything’s so fucking expensive due to high imports etc.

high unemployment

no one is regulating the economy so businessmen make wages low as possible. farmers have no jobs as there’s no profit. 20% labour force out of work. businesses cutting costs and therefore employees

poverty

high unemployment, being unable to purchase g & s and having poor housing leads to …

wall street crash of 1929

prices dropped dramatically for property, shares and stocks. everyone begins pulling money out of their accounts, resulting in 2294 banks failing.

international economic downfall

everyone kind of depended on america for imports and exports, as well as loans so when america went into the depression the most of the world did as well (mostly western countries).

loss of business

26000 businesses wiped out, 10 mil unemployed.