Quincy Terrell Mrs. Stevens English III 10 December 2010 American’s Greed Leads to Poverty Republican nominee Herbert Hoover shared some hopeful words with Americans in 1928. He said that the day was in sight “when poverty will be banished from this nation.” This turned out to be was wishful thinking. One percent of the richest families in America during this time received one fourth of all U.S. income (Brinkley2). Buying stocks on margin became very popular during the 1920s. People began to abuse this system to invest huge amounts of imaginary money that only existed on paper, which back fired when the prices of stocks began to fall and they did not have money to pay for the stocks purchased (Lonkevich4).
Perhaps the worst economic downturn in the history of the United States occurred from 1930-1939. The Great Depression led to domestic and international crises effecting the poor and wealthy alike. Many financial experts today continue to debate the cause of The Depression, although most agree that several events led to the economic decline. The famous stock market crash on October 29, 1929 is just one of many causes economists believe led to The Great Depression. Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.).
During the movie Braddock was broke like the rest of America during the Great Depression. He struggled to find work, food and eventually had to go on government assistance for a while. When he was given another shot at boxing he said “Now I know what I’m fighting for.” which meant he was fighting to take care of his family. He was seen as an inspiration for American because he was broke like everybody else in America. The movie does a good job portraying the life of Braddock and the hardships of the Great Depression.
After a series of injuries, loses, and bad luck Braddock’s Boxing license is revoked. It is because of this that Braddock is left to suffer the fate that thousands of Americans did during the great depression. So now that Braddock is out of the job he struggles to provide for his wife and children while never fully giving up his dream of returning to boxing. Then out of no were due to a last minute cancellation and a recommendation by his old manager, Braddock gets one last chance at glory and cements his place in boxing history. One major thing that makes this movie different from movies like Rocky is that Braddock fights to provide for his family, not for the glory of wining the fight.
In this scene, the close ups on Tony’s face emphasizes the anger that he has. Billy does not like this idea because ballet is the only thing he is capable of doing at a high standard. Also, he is able to forget the arguments at home with the miners strike. He does not like it because Tony (Jamie Draven) and Jackie have a lot of anger at the government and they have to let it out. To add to this, the Elliot family is struggling financially and 50 pence every week is too much money if Billy does not want to take boxing seriously.
Audrey Smith Period 3 February 23, 2012 Mr. Parks Effects of The Great Depression In the movie, “The Cinderella Man,” it shows the troubles and hardships of an average American family during the time of the Great Depression. As the movie plays out, you see the physical as well as the mental state people went through. For this family, they had lost almost everything. It’s a wonder anyone could have survived such a way during this time period in America.
Then finally on October 29,1929th the stock market crashed, because no one was buying and this directly led to the Great Depression. After the Stock market crashed not even 2 months later, the stock holders had lost more than forty billion dollars. Though the market had once again began to come of its losses back by the end of 1930, it was not enough and America entered what we now know as The Great Depression. After the stock market
Many banks declared bankruptcies because they could not get back their money from stock investors. Thousands of banks failed to keep the money from flowing to the market that resulted in a widening circle of bankruptcies and job layoffs.Democrat Franklin D. Roosevelt won the presidential election by a landslide over Herbert Hoover in November 1932 and was inaugurated the following March. He had the first presidential speech when “the stock market was down eighty percent from its 1929 high, almost half the banks had failed, the GDP was down fifty percent, and unemployment stood at twenty five percent” (79). Franklin D. Roosevelt expressed the problems that Americans needed to overcome, and gave out the New Deal programs started from1933 to 1939 that were successful in addressing the Great Depression. The first phase of the New Dealwas called relief that helped millions of suffering Americans as soon as possible.
The Great Depression The Great Depression is an era in United States history known by many, but with recent comparisons of today’s economy to the economy during the 1930s it sparks a question. How similar is our economy today to that of the era of the Great Depression? With evidence like “Federal Writers’ Project Interviews with Depression Victims”, notes from Professor Newman, and a movie based in the 1930’s called Changeling, it seems a little overboard to compare our economy of theirs. The Great Depression was a time in United States history that many wish to forget, it was a moment of weakness and struggle. It can’t be compared to the events of today’s “bad” economy because it surpassed it.
Consequently, many then supported Hitler making him Fuehrer. Inflation impacted everyone in Germany; people were paid by the hour and rushed to pass money to loved ones so that it could be spent before its value meant it was worthless. Pensioners on fixed incomes suffered as pensions became worthless and the poor became even poorer. Businesses started to close down and unemployment suddenly soared. The economy was collapsing.