The Start of the Great Depression

·        The big thing that started The Great Depression was when the stock market crashed on Wall Street on Tuesday, October 29, 1929.

·        Financial markets worldwide were sent into a tailspin.

·        The German economy was especially weak.

·        It was built on foreign capital, mostly loans from America, and really dependent on foreign trade.

·        When world market exports for Germany fell through the floor and the loans suddenly were due, the German industrial machine came to a halt quickly.

·        As production levels fell, business owners were forced to lay off German workers.

·        German banks failed.

·        All the money people had saved was gone, wiped out.

·        German money lost all value.

·        Families could not buy things they needed like food and clothing. 

·        You could take a wheelbarrow of German money down the street, and it would equal the value of a U.S. penny.

·        The life of a middle class family went from good to bad quickly.

·        They went from having everything they needed and wanted, to having nothing at all.

·        They lost everything and had no control over it.

·        They began to look for anything they could as a solution.

A Christmas Dinner