The Roaring Twenties and the Great Depression: Economic Prosperity and Hardship in America, Schemi e mappe concettuali di Inglese

Scarica The Roaring Twenties and the Great Depression: Economic Prosperity and Hardship in America e più Schemi e mappe concettuali in PDF di Inglese solo su Docsity! The great depression The year is 1918,and after 4 years of conflict, the First Worl War is finally over. America was emerged as one of the victors and it enters a period of economic prosperity and cultural change, knowkn as the Roaring 20”s. Things start off pretty strongly as the postal economy has seen a boost. Troops are back from the war, delayed projects are springing up again and more women are entering the workforce, meaining that more people have a salary to spend and companies are looking for a piece of the money pie. So in 1920, we see our first radio advertisement, recent inventions like vacuum cleaner and the electric washing machine are becoming hot commodities. Since things are looking pretty good, the banks are giving out loans to everybody, meaning that even more people can buy the latest and greatest gadgets, and everyone is getting the car ( Henry Ford’s T-model) and whit it, life is becoming a lot easier. Now you can the Charleston, across town we hope for you evening smoke. AII of this is making companies very rich and people are starting to look for things to do with their newfound wealth. The stock market becomes a pretty popular practice and with so many people buying, investors are finding it very easy to make money on stocks. There are so much money to be made, people are taking loans to invest even more, and banks are probably collecting the interests. By the way those same banks are looking to invest more money too and soon enough, they begin borrowing money from customers bank accounts to buy stocks. Things are going pretty well in America and we experience the flapper culture, prohibition and the rise of jazz music. By 1929, the America stole wealth has doubled and investments are up 218% since 1922, in fact stocks are rising so fast that companies are having a hard time keeping up and justifying their stock price. Production actually seems to be slowing down and people aren't buying as many things. It looks like companies may have overstimated teir growth, now wages are falling, all that is easy tax is dead, and interest rates are starting to rise. The stock market is still up, investors are ignoring these problems in buying everything. 24Th October 1929,black Thursday, the theorized start of the Great Depression. Investors start to sell, all of this selling is dragging the stock market down, erasing American's wealth. The market loose 4 millions dollars in one day. The Great Depression is the worst economic downturn in the history of the industrialized world. People are only getting back 10 cents for every dollar they had in their accounts banks. Unemplyment reaches its highest level. By this time redline soup kitchens, and homelesness are common sights. The Fiscal Intervention by Roosevelt would do little to resect activities. With recent globalization, the effects of great Depression, were felt around the world and in the darkness we saw the rise of Hitler, who used the German people as a rallying call ultimately leading to the creation of the Nazi party in the Secon World War in 1939. the war created jobs in America ending one tragedy with the start of another. Depression demonstrated the destructive potential of speculation and debt. Debt laws would rather be introduced to safeguard financial institutions and deposits. During his time in office, Franklin D. Roosevelt would introduce the federal Deposit Insurance Corporation and the Securities Exchange Commission. Institutions targeted at protecting the wealth of Americans that still exists today. Few are left to remember the hardships of the Depression, but we'd be foolish to forget the lesson it provided.