American Studies 2200E Lecture Notes - Lecture 14: Okie, Cultural Artifact, Crop Rotation

• School: Western University
• Department: American Studies
• Course: American Studies 2200E
• Professor: Anna Zuschlag

Document Summary

Low interest rates, people taking out more loans, stock speculation. Ta(cid:396)ts i(cid:374) (cid:1005)9(cid:1006)9 afte(cid:396) the u(cid:374)li(cid:373)ited p(cid:396)ospe(cid:396)it(cid:455) of the (cid:1005)9(cid:1006)(cid:1004)"s. Fuelled by president cal(cid:448)i(cid:374) coolidge"s fis(cid:272)al poli(cid:272)ies a(cid:374)d ta(cid:454) (cid:272)uts. Pushing the american economy into hyper drive (markets booming) Household debt was increasing from the purchase of luxury items. B(cid:455) the (cid:373)id (cid:1005)9(cid:1006)(cid:1004)"s, sales of lu(cid:454)u(cid:396)(cid:455) goods slo(cid:449) do(cid:449)(cid:374), de(cid:272)line in housing market. September 1929: stock prices almost 400% what they had been in 1924. Black thursday, october 24th, 1929: a number of bad trading sessions. I(cid:374) se(cid:448)e(cid:374) da(cid:455)s" a(cid:373)e(cid:396)i(cid:272)a(cid:374) i(cid:374)(cid:448)esto(cid:396)s (cid:449)ould lose (cid:373)ore money than the american government had spent on the first world war. The market continues to drop until 1932 when it hits rock bottom. Massive drought in the midwest, southern plains during the (cid:1005)9(cid:1007)(cid:1004)"s. Combined with over farming and overgrazing of animals. Disastrous for people living in these regions (particularly oklahoma) 1934: the worst year of drought in the last millennia for north america.