With significantly reduced wealth, spending decline, banks failed and on top of this drought conditions contributed to a lack of good crops. The Great Depression was the result of an unlucky combination of factors, but mainly the use of margin is to blame (Doc . Worldwide, there was increased unemployment, decreased government revenue, and a drop in international trade. At the height of the Great Depression in 1933, more than a quarter of the US labor force was unemployed. Some countries saw a change in leadership as a result of the economic turmoil.
John majors government came into office after the downfall of Margret Thatcher, which ultimately created divisions within the party. Not only did the party suffer from the internal conflict but also faced the problems of the recession after the ‘Lawson boom’. In order to stabilise the economy he joined the ERM getting a good deal but ultimately resulting in ‘black Wednesday’ causing Major to raise interest rates to 15%. This was political suicide and he soon lost the support of the press we had once relied so much on to get re-elected in 1992. 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.
This constant drive to match and even surpass the US led to a serious decrease in spending in the consumer and domestic economy as a whole which greatly impacted the citizens in the USSR. Brezhnev left his successors an
By 1986 the Soviet economy suffered from both hidden inflation and pervasive supply shortages which were aggravated by an increasingly open black market that undermined the official economy. In addition, the USSR spent a lot on the military, they lost over 15,000 soldiers in the war against Afghanistan which had cost them $8 billion per annum. They also overspent in the Reagan years, the defence spending increased by $32.6 billion as they tried to compete with the USA STAR WARS programme but could not compete. Also, the USSR spent $40 billion propping up Communist Governments throughout the world. The USSR was left behind by the new wave of industrialisation as it was based on information technology, they were left desperate for Western technology.
The World War brought up a huge range of different issues, which plummeted an already shaky country, into a desperate country. One such issue was the economic strains that the war put on the country. The urgent need for weapons and specialised equipment drove the Russian economy into overdrive, leaving the poorest Russians without food and with an inflation rate which rose around twice as fast as wages went up. The huge numbers of men armed by Russia also meant that industries all across Russian began to slow their production rapidly, most notably of all being agriculture. This meant trade to other countries went down bringing the economy to yet another low and this lack of agricultural workers meant a lack of food across Russia, especially in towns and cities where there was no easy access to farms; and as is with most things in demand, the prices went through the roof, leaving peasants starving on a mass scale.
During autumn of 1929 the stock market began behaving highly volatile. Stock market prices were expanded to just about breaking point, and then suddenly it crashed. Because of the Stock Market Crash the gross national product dropped 40 %, $6.1 billion in 1929 to $3.5 billion in 1933 (The Canadian History Page). The Bank had no money left because of the effect of the stock market crash. Wages in the industrial sector were not keeping up with huge increase in manufacture and profits.
THE GREAT DEPRESSION American success failed when the stock market crashed in 1929 during President Herbert Hoover’s administration. All of a sudden people were out of work, thousands lost their savings, and the nation was in a state of shock. Even millionaires lost their money. The problems and the causes that led up to The Great Depression were multiple. Farm income went down from the drought.
Having a war caused inflation, government spending rose from 4-30 million, taxation increased, and money became practically worthless and the price of food and fuel quadrupled. This made people angry as they could not afford supplies for themselves and their families, which made them, turn to the Tsar for help but he wasn’t seen to be doing much about the effects of war on the people at home. Furthermore, as well as not being able to
Are we secure enough? The last of this fatal event leads to a down economy, that affects every one of us. Since those horrible attacks of 9/11, United States of America lost a lot of money and is an extreme debt. After that the prices of everything went higher, many people lost their jobs as a result of the economy, because of this many businesses are closing out and what is worst is the people who are losing their houses. In conclusion, the impact of 9/11 changed the United States of America in number of ways.
Only Soviet Russia, the country which had basically isolated its self from every other country at the time, had not been affected by the Great Depression. But the Russian people, especially in the Ukraine, had suffered very badly for several years after 1929 for other reasons and causes. Another effect of the Great Depression was the shrinkage in trade and manufacturing. It shrank rapidly, for example, in 1929 the estimated value of United States imports and exports had gotten up to ten billion dollars. By 1933 the value had dropped to three billion.