The Great Depression was a severe period of poverty and tragedy. It effected many other countries not just America; especially in Europe, where many countries had not fully recovered from the aftermath of World War I. The cost of World War I weakened the ability of the world to respond to a major crisis. America alone had ten billon dollars of debt from the war. In Germany America’s economic failure contributed to the rise of Adolf Hiltler, so the Stock Market Crash had a domino effect on our country and others.
The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess. However Major did have some success, he abolished poll tax, which was very popular among the public, he increased spending on the NHS and introduced transport subsides to keep travel fares low.
They are called “industrial statesmen” for the great economic power they helped America become. At the same time, they are regarded as “robber barons” because they built their great wealth by abusing the system, abusing employees, and destroying their competitors to satisfy their own needs. They grew America, but brought down many on their path. Document F is concentrated on John D. Rockefeller. A great man, really, in charge of having possibly the biggest oil refinery company in the world.
The economy is considered to be very unstable at the current time, and it is the duty of the United States government to do everything in their power to once again stabilize the once booming economy for the sake of the entire country and its citizens. Current Unemployment Rate Currently unemployment rates in the United Sates are a less than desirable 7.9%. Although, this number has decreased by 2.1% from its peak in recent years, it is still believed that there is a long way to go. Prior to the recession unemployment rates fluctuated between 4% and 6% (www.bls.gov, 2012). This increase in the unemployment rate is having considerable impacts on the economy.
The people who were spending money were the poor more often than the rich; the poor were getting poorer and the rich were essentially becoming richer because even though there was no money to make, they were not spending. In the 1980s and 90s, economists argued that the Federal Reserve had caused banks to decrease their willingness to loan money, which lead to a severe decrease in consumption and in investment because no one had any money to spend. (Szostak 2003). Many people also blamed Hoover for the recession. Hoover was the president at the time.
Few saw this devastation coming. The Mortgage Foreclosure Crisis was arguably the most significant for the economy since the Great Depression. It forced millions to lose everything they have and have to live in lower standards than ever before. Criminal acts have skyrocketed due to desperate Americans having nowhere else to turn to but illegal lifestyles. The Mortgage Foreclosure Crisis has set back our economy and the lifestyle of the average American has changed astonishingly
Bergen-Belsen The United States has had many horrifying accident that ended up costing millions of deaths, but never like the tragic deaths that happened in Bergen-Belsen. Northwest of Celle, in between the villages of Bergen and Belsen established in 1940, Bergen-Belsen was one of the worst concentration camps in history. It was originally a detention camp, where Jews were held with the intention of exchanging them for German prisoners of war held overseas. The prisoners of this concentration camp experienced such dreadful conditions in the camp, including the most primitive sanitary conditions, starvation rations, and virtual lack of medical care contributed to the enormously high mortally rates. Bergen-Belsen was divided into 8
Many factors caused the economic condition in America to change in the late 1920’s resulting in the Great Depression. These factors include World War One, individual debt, business failure, farming decline, banking failure, and the stock market crash. World Depression was caused by World War one because the demand for American products reduced after the war resulting in too much supply with limited demand. Production was lowered and jobs had to be cut, leaving many without jobs leaving many in debt because many people took out loans or stocks during the war. Many people did not have money to spend in businesses and businesses also took out loans that needed to be paid back.
The Nazis represented the return of traditional German values which went down well with the middle class people. The first two points are linked because the person are losing money already and if the country becomes a communist country then the businesses and land owners will lose more money therefore a big aspect in the great depression was that Germany was losing a lot of money. Hitler and the Nazi party gained a lot of supporters who voted for them at the elections. This was because Hitler appealed to them and was meeting their needs. I believe that Germany becoming a communist country was more of a big problem than families losing because once Germany became a communist country they were most likely going to stay like that for a long time however with the money lost the families could always find new jobs.
The Depression started with the market crash of 1929. Unemployment was on a rise, businesses were failing. The reason of that is because the stock market was doing badly, there were overproduction and a crash which is stock prices go down. Many people lost their jobs and those that were still working had to take major pay cuts, and people who were trying to get a job couldn't because the employees couldn't pay them.