B2 – Upper Intermediate
Global economic conditions have been profoundly impacted by US tariffs. One significant outcome that many people worry about is a major depression, which is the worst economic collapse in modern history. People would go from lavishly celebrating to losing everything, including their life savings.
Watch the video below to learn more about the great depression.
Vocabulary Questions:
- Define “snowball effect”. “As the public learned about these incredible returns from the stock market, everyone began putting money in it and talking about it more. This created a snowball effect.” Use this term in a sentence.
- What does “to fill the air” mean? ” “Extreme greed and unrealistic fantasy filled the air.” Use this phrase in a sentence and give a synonym.
- In business, what does it mean “to close the doors“? So if a local bank closed its doors, people lost their money.” Use this idiom to make your own sentence and give a synonym.
Discussion Questions:
- Do you think another Great Depression will begin in this century? If so, why?
- How would a Great Depression affect your life right now?
- What lessons have we learned from the Great Depression?