Chapter 14 Concepts

Before the Stock Market Crash, what was Herbert Hoover’s vision for his presidency?
to bring prosperity to America

What ere the causes of the Great Depression?
Tariffs/war debt cut down foreign market for American goods, farm crisis’s, credit was easily available, unequal distribution of income, falling demand of consumer goods, federal government kept interest rates low, people borrowed money easily, but built up debt easily too

Why did the stock market crash in 1929? What is some advice people should follow to avoid losing their money in the stock market?
People were buying too many things on credit and taking too many risks with their stocks, you should avoid the fire-selling stocks and taking other risks

How did human behavior affect the intensity of the Great Depression?
-Some men couldn’t deal with losing jobs so they pretended they still had theirs and took money out of savings without the wife knowing, or abandoned their families
-teenagers sometimes ran off to look for work too

Was the Great Depression a domestic issue or international issue (or both)?
-both
-international…because other countries were buying some of our products and when we put tariffs on the stuff, it effected other countries trading habits
-domestic.. because people in America were hit the hardest with job and money loss

What was Herbert Hoover’s background and how did that influence his response to the Great Depression?
self-made-man, believed in rugged individualism and that the government should not support directly or give direct help to American citizens

How did Herbert Hoover try to minimize downward spiral of the Great Depression?
Hoover started to soften and supported things like the Federal Farm Board to help raise crop prices and National Credit Corporation which loaned money to smaller banks

How did the Great Depression affect those living in rural areas and cities differently?
city – lost jobs, couldn’t pay rent/lost houses through foreclosure, created shantytowns, homeless went to soup kitchens, bread lines
rural – farmers lost land, dust bowl occurs, dust storms and severe drought, topsoil gets messed up, farmers travel Route 66 to CA to try to get to a better life

What did people in bread lines look like?
scruffy, unshaven, holy, dirty clothing, smelly, unkempt, emotionally broken, men, middle-upper class, not government paid for

How was the American family affected by the Great Depression?
brought them together, they had to stay home, no more disposable income, no more night life, because people did not have that kind of money anymore, feel like they cannot provide for their family, when they can’t, they have mental breakdowns, wild boys, hoovervilles, hoovertowns, hoover flags, weekly payment in NYC was $2.39 per family

Were Herbert Hoover’s policies during the Great Depression successful solutions? Why/why not?
no – people rebelled against Hoover – newspaper blankets – Hoover blankets, shantytowns – Hoovervilles, empty pockets turned inside out – Hoover flags, people believed in Hoover when he was first elected because he promised “a chicken in every pot, and a car in every garage,” and won by so many votes, but now people doubted Hoover and were blaming the terrible economy and stock market on him

How did the Great Depression affect different groups of people?
-women did not want to seem weak or want others to know they were suffering, instead of standing in breadlines/going to soup kitchens, they starved in their attics, did not draw attention to themselves, Canned food, sewed clothes, managed house budgets, received less money than men working outside of home

-men middle aged, most likely to be found in bread lines, routine which they searched all day for a job, then stood in bread lines at lunchtime, 300,000+ transients (hobos), direct relief – cash payments or food provided by the government to the poor

-children not as common in bread lines, usually stayed with mother, poor diets, lack of money for health care lead to serious health problems, rise in malnutrition and diet-related diseases like rickets, falling tax revenues shortened or possibly closed schools, began to work in sweatshops, wild boys, sons of poor farmers, out-of-work miners, and wealthy, that lost everything, “Hoover tourists” many train riders were beaten/jailed by “bulls” – armed freight yard patrolmen

How did the depression affect minorities?
minorities had a tough time finding a job, however, they were used to poverish conditions before the depression started

What are some criteria you should use to responsibly invest in the stock market?
-good track records
-good price COMPARED TO revenues, earnings, cash flow, and other fundamental criteria
-variety of industries
-buy and hold, don’t trade stock feveriously
-stable/moderate growth and good time charts
-good P/E or PEG (1.0 or lower)
-a nice average return (stable, annual income)
-something risky, but not too risky
-good EPA
-no/VERY little rapid decline in sales over past…

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Price Supports Attempt to help ease farmers’ financial problems by the government buying surplus or extra crops and selling them in Europe or abroad. Great Depression The period from 1929 to 1940 in which the nation suffered from a continuous …

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Price Support The government would buy surplus crops like corn, wheat, cotton and tobacco at guaranteed prices and sell them on the world market. Credit an arrangement in which consumers agreed to buy now and pay later for purchases in …

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