Wall St CRASH 0.0 / 5 ? HistoryThe USA - twentieth century changeGCSEAll boards Created by: nloughCreated on: 30-11-15 09:54 DEPRESSION 1928 Hoover declares USA had triumphed over poverty By 1929 WSC world economy plunged into depression By 1932 USA in eceonomic depression (high unem, drop in prices , fall in production ) 13 m unemployed primitive living conditions Hoovervilles 2 million desperately seeking work 1932 Hoover at rock bottom CAUSES Collapse in land prices in Florida too much production not enoygh buyers farming goods prices drop /lack of demand too many small banks ,ruch in savings withdrawal caused many to fail psychological blow WSC Speculation Lending to Europe , recall loans and knock on effect Collapse European banks EFFECTS Unemployment drop in bproduction by45% from 1929-32 House building fell by 80% American banking system on brink of collapse 5k banks out of business death lack of nutrition 1 of 1
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