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The Great Depression 1929-1939 What was the Great Depression? This period was also referred to as; “The 10 Lost years”; ________________________ ______________________________________. Came suddenly and without warning. Many thought that it would be a ________________ and wouldn't last long The ___________________were preceded by ________________________ which had music, dancing, fast cars, elaborate clothing, fine food, expensive tastes (fur coats) and “living the good life” There were 4 main causes of the great depression and a spark to set it off! The Dirty Thirties Canada's Prime Minister was _________________________ (Conservative) who was elected in July 1930 to replace ________________________. It concluded in 1939 with the start of _____________________(people put to work in war manufacturing plants and/or in the military) The 4 Causes of the Great Depression: 1. People began to rely on credit to get them through the _________________ The theory was ______________________________________________ ________________________________________ (this attitude still gets lots of people in trouble in present day) The money will be there in the future – _______________________________ 2. Many material items were becoming available for people to buy Manufacturers kept making the products even when the demand for them wasn't great (_______________________) Consumer products became so many people couldn't afford everything (as their was no work – factories had been closed down), getting picky about the products they were buying No one was seeing the big picture (__________________________) ____________________ (radio) was a major part of the overproduction problem 1920s were a time of _____________________ – Movies (__________), Entertainment (___________________), ____________ Ford 3. People were glad to have the veterans home from the war People were living a ________________________________________ __________________________________ The people of the 1920s had been through so much in the war, they were happy to be alive (and ______________________________________ _____________________________________________________) Times were good – the best that Canada had seen, we were starting to develop _________________________________________. 4. 1920s – the stock market takes off, factories and businesses start selling stocks on the market, people buy these shares so the businesses can grow If lots of people are buying the price can go up, people can ____________ and _____________________ (and make money) Adding to the get ______________________ ____________________________________ – everyone wanted in on it The four causes of the Great Depression are (with 2 key pts beside each) 1. Reliance of Credit 1) 2) 2.Overproduction 1) 2) 3.Psychology of the people in the 1920s 1) 2) 4.Speculation on the stock market 1) 2) The trigger to set the 1930s into a depression: October 29, 1929 – Crash of the New York Stock Market – known as ___________________________________ Key people own lots of shares – they ________________________ all of their shares, the prices start to fall on the stocks People do not know what to do – do you wait and hope it recovers or do you sell (and take your losses?) There was a panic on October 29, 1929 that stocks were going to plummet – lots of people ___________________________________. _____________________________________________________ ________________________________________________ (as the company value was decreasing) People needed money. Some hung on to their stocks as they couldn't risk selling what they had – __________________________________ as they owned lots of material items (that they did not have the money to pay for) ___________________________________. No one could get any money. As everyone was trying to cash in at the same time. It is said that there were more ___________________________ ___________________then any other day in history. Some people (very few) got very rich – instead of buy low – sell high, they ___________________________________________ (a very smart investment strategy – but a big risk – it paid off)...