HIST 2057 Lecture : Test 3 Lecture 14
Document Summary
Role in ms flood: during campaign. If he was elected, and gov policies continued, policies would abolish poverty in us: elected. Rugged individualism : hoover, meant self reliance from the gov, argued wwi mattered because wartime is a period of gov expansion; now no longer in a war, able to cut back on gov. Bull market 1929: stock market increased exponentially, prices going up, buying on margin. Investors making large profits, everyone wanted to join it: borrowing money from bank and putting it directly into a stock, shareholding. Investors banks businesses: americans become skeptical and want to pull their money out, banks didn"t have the money and failed, no bank insurance, americans lost their money in the banks (personal bankruptcy) Dust bowl (john steinbeck: effected farmers in midwest (4 states, experienced drought, wind erosion, made farming difficult. Machines, policies that lead to them: okies: Newspapers impoverished lot of submarginal people living on submarginal land.
