The Great Depression changed and effected Americans and the economy. Millions of Americans lost their jobs and homes. The economy went though a lot of failure of meeting financial obligation in banking and in trading. Because of this Europe and many other nations were set back from many of our abilities to help with their broken economies as well.The unemployment in the Depression was very scary. The Depression started with the market crash of 1929.
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.
The dramatic economic downturn in the world economy that hurt so many workers starting in 2008 only accelerated a decades-long trend toward more precarious jobs and the unstable hours, low wages, minimal benefits and insecurity that this work means for so many, as led decline in union membership and activities. First is the emergence of an increasingly competitive business environment, in which firms have
‘We in America today are nearer to the final triumph over poverty than ever before in the history of any land.’ This was said by New republican president, Herbert Hoover, in 1928. However it was not true, for within a year, America had lost all confidence and it had fallen into the depths of depression. The Great Depression was an economic crisis which started with the crash of the Wall Street stock markets in 1929. It was a tragedy which affected all areas of American life. It caused unemployment rates to rise, reaching as high as 25%.
These countries were also arguably the European countries that got impacted the most by the Great Depression. “In Germany, unemployment rose sharply beginning in late 1929 and by early 1932 it had reached 6 million workers, or 25 percent of the work force.” (About the Great Depression). Germany had a huge amount of debt they owed following World War I. As Germany had a hard time paying its debt to get out of its economic crisis, the Nazi party saw its rise not long after. Adolf Hitler, the creator of the fascist and Nazi party, promised to lower the unemployment rate during this period of time.
This means the government does not see the need to have as many fire men/women and therefore made many redundant and closed down fire stations in order to save money. This has caused an upset, both with fire men and women local residents as they believe the service times may increase as there is not as many available in comparison to before the redundancies. The same can be said about the police force, there has been a vast decrease between the amount of people the police force take on and train and allow to become a member of the police force as they simply cannot take on the amount that may be needed due to government cutbacks and financial policies. However, a positive affect that can be said about financial policies that result on cutbacks for public services could be that as money is saved for example in reducing the amount of fire stations and fire men/women, the money could be invested in an alternative public service such as the paramedic service or the NHS in order to
14 February 2012 Double Taxation Hit Small Business In an economy where employers are laying off employees in unheard of numbers and the unemployment numbers are dancing around records levels a new government debacle is plaguing America’s business; and there seems to be no end in sight. Unemployment benefits and taxes are hitting businesses twice. The majority of unemployment benefits are paid by business. With the increasing number of unemployment claims most states’ benefits funds were exhausted shortly after the start of the recession. Resulting in the asking for Federal funds to help cover benefit payments; because of this many states are having trouble in repaying the interest owed to the Federal government.
Possibly the most important showdown was the debt-ceiling fight of August 2011. It “threatened the country's ability to meet its financial obligations and resulted in an unprecedented downgrade in the U.S. credit rating by Standard and Poor's. The subsequent failure of the bipartisan super-committee to reach a deal on $1.2 trillion in targeted budget savings over ten years unleashed automatic spending cuts for both defense and non-defense spending”
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.
Trying to find employment in today’s economy is hard enough, but add a felony to that and it makes it 10 times as hard. Without jobs, convicted felons often look to get public assistance and taxpayer’s help. They lose many of their rights and privileges and are often judged beforehand. Almost all employers today conduct a background check upon hiring. They are hesitant to hire felons because of their past and their criminal record; they don’t want to take that chance.