Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.). Many banks and financial institutions began collapsing which led to irretrievable, uninsured deposits and savings. Fearing further loss, people began spending less which led to a decrease in production and an increase in unemployment. As companies began to fail, the government devised the Smoot-Hawley Tariff in order to protect American businesses. The Tariff placed high taxes on imports leading to a decline in international trade.
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
After reading the novel Of Mice and Men social powerlessness is a common problem in the novel and exists in many different societies. In the novel some of the characters that display powerlessness are Lenny, Crooks, and Curley’s wife. They all exhibit the most sense of powerlessness. In many ways these characters relate although they don’t share close relationships in the book. In the paragraphs below are more into why each of these characters shows powerlessness.
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 most terrible poverty is loneliness, and the feeling of being unloved.” This quote was said by Mother Theresa and it depicts the life of Curley’s wife. This book was written during the Great Depression. The Great Depression was a time that everybody was poor. Not just the United States, but the entire world was in poverty. Curley’s wife was living through this time, but she had the worst poverty of all… loneliness.
In these winter months there were signs of the country’s morale and unity breaking, it was not helped when Germany was hit with an influenza epidemic, wiping out 20-40 million, the resistance to the disease was lowered due to decline in living conditions. Inflation was also a problem facing Germany after the war, the people were forced to work longer hours, but wages still fell below the inflation rate. As a result of these effects social discontent grew, and anger was expressed at sharks of the industry who appeared to be making money from the war. The
The Nazi’s were not in a position to manage an electoral support. Then at the perfect time for the Nazi’s, the Wall Street Crash came in 1929. This compounded existing weaknesses in the economy. The loans and investments dried up and this was quickly followed by demands for the repayment of those short-term loans. The crisis also caused a decline in exports and productions as the demand for exports collapsed and the world trade slumped for Germany.
Only six months after Hoover took office, the economy collapsed and the Great Depression began. Many factors caused and contributed to the Great Depression of 1929. One factor would be the overproductions of many goods in the 1920s led to worker layoffs Another factor was that easy credit led to people spending more than they had, and it led to a rapid inflation that eventually caused people to stop buying. The Federal Reserve Bank, created in 1913, did a poor job which also led to the great depression. It did not monitor interest rates to help regulate the economy when overproduction and inflation had started to cause unemployment in 1928-29 and the economy seemed likely headed toward collapse.
It is during this time, in the fictional town of Maycomb in southern Alabama, that the novel is set. The Great Depression brought distress to many people throughout America. It was with the Wall Street Crash in October 1929 that suddenly ended the strong American economy, and the Great Depression began. The crash led to many companies and banks closing, and industries suffering as no one wanted to spend any money. Many were left unemployed and had to take to the road to find work.
The Radical Prime Minister, Edourd Herriot, was met with a severe economic crisis caused by the mismanagement of government expenditure. A divide in the Cartel on how to solve the crisis meant Herriot stepped down in 1926. The demise of a government due to disagreements on a solution to France’s economic problems was an often occurrence during the 1920’s and 1930’s. The French people always suffered as a consequence of the