Mbuzi
Banned
am selling o1 cobra spings
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01 cobra springs for sale
- Thread starter Mbuzi
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mbaya
Banned
One of the main reason that led to the collapse and commencing of the great depression, was world war 1. After world war 1, many of the European countries had to pay for their war debts and reparations. The united states was the main creditor to these countries. However, many of the bankers in America were to really prepared for this kind of responsibility and they were loaning out a lot of money to countries that couldn’t even afford to pay back.
The 1920s appeared to be a prosperous time on the surface, but looking in depth at that period it clearly shows that income was unevenly distributed and the wealthy made big profits, but more and more Americans spent more than they earned.
Soon after Roosevelt came into office and introduced the New deal, the deal brought together a new , liberal political alliance in the united states. Roosevelt policies won the support of many labor unions, blacks, religious and ethnic communities of different background and people that received relief, help from the government, farmers and intellectuals that helped form a coalition that would be the backbone of the Democratic Party for years to come.
Americans attitude towards life, work and their community was deeply affected by the hardships that were suffered during the great depression. Most people wanted and started protecting themselves from ever going without food, water and money or even lacking of necessities. This quickly made a lot of people realize the importance of saving money. A lot of people focused on accumulation material possession so as to create a comfortable life one that was very far from what they experienced during the depression.
CAUSES
After world war 1, many Americans in the late 1910’s and 1920 began to ignore international issues and social concerns and focused more towards greater individualism. This was mainly based on getting rich, enjoying their wealth , new inventions and new ideas. The traditional norms of the rural American were challenged by the rapid growth of urban life style which included the jazz age, which was accompanied by women smoking, drinking and wearing short skirts and wearing make up. These kind of qualities quickly made a lot of the young people move to cities from the rural areas and these led to only a few people left to cultivated the land and grow crops which the country heavily depended on.
Modern industries had the ability to produce a large quantity of consumer goods and services that easily complemented the ever growing self-centered attitudes of Americans in the 1920s but this created a bigger problem; prosperity could only continued if the demand for this kind of goods and services were made to grow as rapidly as the supply of them. “The key to economic prosperity,” a General Motors executive declared in 1929, “is the organized creation of dissatisfaction.” With this kind of advertising, more people were more willing to abandon the pro-american traditional values of saving, postponing pleasures and purchasing what is needed and not wanted. This kind of behavior kept the economy growing through most of the 1920s, but came at a cost.
Income was not properly distributed with portion going to the wealthiest Americans grew larger as the decade proceeded. This was mainly becauses of two factors; While workers got a relatively small share of the wealth produced, the businesses made astonishing gains in productivity during the 1920s. Between 1923 and 1929, manufacturing output per person-hour increased by 32 percent, but workers’ wages grew by only 8 percent. Corporate profits shot up by 65 percent in the same period, and the government let the wealthy keep more of those profits. The Revenue Act of 1926 cut the taxes of those making $1 million or more by more than two-thirds.
With one quarter of the American economy represented by farmers, farmers were already in economic depression in the 1920s which made it difficult for the m to particitipate in the consumer buying spree like the rest of America. During world war 1, the demand for farm goods was very high which was accompanied by low production of farm produce in Europe, which led to farmers growing more crops to export to the European markets. Soon after the war, the demand dropped sharply and American farmers found themselves competing in an over supplied international market that resulted in prices cuts and thus leading to farmers unable to sell their produce for a profit.
The sharp decline in international trade after 1930 constituted to the spreading of the depression. This was mainly caused by the American Smoot-Hawley Tariff Act of 1930. This act seriously reduced international trade which led to retaliatory regulations from other countries towards America, especially those countries that owned resources that American prosper without. As a result in dollar terms, exports from America declined from $5.2 billion in 1929 to 1.7 billion in 1933. The hardest hit were cash crops such as wheat, cotton, tobacco and lumber.
EFFECTS
From 1929 to 1933, unemployment soared from a mediocre 3.2 percent to 24.9 percent, which left 15 million Americans without sources of income. For those who kept their jobs experienced severe wage cuts and many could only find part time jobs.
Many banks carelessly gave out loans in huge amounts to people who could not repay the loans on time or never paid the loans at all. Some banks lost a lot of money by investing in the stock market which was slowly and failing. When depositers that were hit hard by the depression went to withdraw money, the banks at times didn’t have money to give them. As a result of this, other depositors went into a panic mode and demanded their cash that result in many banks failing due to lack of funds. By the winter of 1932 to 1933, 87 percent of the banking system hard reached the point nearly completed collapse wiping out savings of millions of people.
Between 1929 and 1933, the rate of foreclosure rose from 2 percent to 37 percent because mostly had lost their jobs and life savings and could not come up with money to pay mortgages for their homes and farms. This led to an increase in the number of people that became homeless during that period of time. So did the number of “Hoovervilles” which were built out of bitterness toward President Herbert Hoover, who refused to provide government aid to the unemployed and homeless.
Natural catastrophies like earthquakes, tornadoes and hurricanes catalized the rapid growth to the depression. In 1930 in Arkansas, a severe drought spread across the great plains through the middle of the decade. The once rich top soil that supported productions of crops and food was turned into fine dust and eroded way by wind. Sometimes this eroded soiled created sandstorms when they mixed with big winds that became known as Dust Bowl in parts of Kansas, Oklahoma, Texas, New Mexico and Colorado. This drought destroyed the livelihood of hundreds of thousands of small farmers. Farmers packed up their families and meager possessions, as many of them migrated to California in search of work. Author John Steinbeck created an unforgettable fictional portrait of their fate in the novel The Grapes of Wrath(1939).
The great depression led to an increase in the crime rate as many of the unemployed people resorted to stealing just put food on the table for their families. Prostitution skyrocketed as more desperate women turned to selling their bodies for money to provide essential needs for their children. Life during the depression was extremely hard and with no end in sight, those that were hit hard and couldn’t cope choose to commit suicide so as to put themselves out of their misery.
Health care deteorated soo badly, that most people only considered going to visit a doctor only in times of the direst of circumstances like life threatening illness. With cost of funeral at an all time high, people resulted to burning the deceased ones since most people could not afford funeral costs.
Alcoholism increased with Americans seeking outlets for escape, compounded by the repeal of prohibition in 1933. Cigar smoking became too expensive, so many Americans switched to cheaper cigarettes. Sometimes when alcohol and cigarettes, didn’t help them soothe their pains, many resulted in using hard drugs such as opium which later fueled the rise in crime.
Higher education was well out of reach of most Americans as universities and colleges saw a sharp decline in student body during the first half of the decade. High school attendance increased among males, however. Because the prospects of a young male getting a job were so incredibly dim, many decided to stay in school longer. However, public spending on education declined sharply, causing many schools to open understaffed or close due to lack of funds.
Also their was a sharp change in demographic trends such as marriages. This was mainly due to the fact that many males chose to wait until they can provide for their families before proposing to a prospective female. Divorce rate declined as rate of abandonment increased tremendously as many men choose the “poor mans divorce” option. Birth rates dropped during the lowest points of the depression as many Americans learned about the birth control so as to avoid added expenses of unexpected children.
During the great depression, mass migration continued as many people moved from the unfertile lands in the rural areas to the cities in search of opportunity. For example rural New England and upstate New York lost man citizens seeking better life elsewhere. The Great Plains which were previously known for their dominant growth of cash crops lost their population to states such as California and Arizona. The Dust Bowl sent thousands of "OKIES" and "ARKIES" looking to make a better life. Many of the MIGRANTS were adolescents seeking opportunity away from a family that had younger mouths to feed.
As the great depression continued to be tougher, discrimination was at an all time high. Federal, state and local government and also some of the private sectors resulted into using explicit policies in the 1930s to favor men over women for jobs. During that period, the labor market was highly segment by gender with the perception that jobs should be allocated to men only “breadwinners”. Those women that were married were the first to be laid off.
Dicrimination didn’t stop there, surveys that were conducted between 1929 and 1935 showed that unemployment rate among the blacks ranged between 30 percent and 50 percent higher than among whites. For example, abound of black workers were laid off to create room for white workers.
One might expect the Great Depression to have induced great skepticism about the economic system and the cultural attitudes favoring hard work and consumption associated with it. As noted, the ideal of hard work was reinforced during the depression, and those who lived through it would place great value in work after the war. Those who experienced the depression were disposed to thrift, but they were also driven to value their consumption opportunities.
The introduction of securities regulation in the 1930s did undeniable a lot to improve the efficiency, fairness and the stability of American stock markets. These regulations helped deliver American from the depression gradually. Some of these security regulation included bank supervision, the introduction of deposit insurance in 1934, which helped end the scourge of bank panics thus depositors no longer had the desire to rush to their banks at the first rumor of trouble. But the deposit insurance also created a problem. This insurance allowed banks to engage in overly risky activities with the depositors money with the luxury of knowing that the depositor will not penalize them.
The 1920s appeared to be a prosperous time on the surface, but looking in depth at that period it clearly shows that income was unevenly distributed and the wealthy made big profits, but more and more Americans spent more than they earned.
Soon after Roosevelt came into office and introduced the New deal, the deal brought together a new , liberal political alliance in the united states. Roosevelt policies won the support of many labor unions, blacks, religious and ethnic communities of different background and people that received relief, help from the government, farmers and intellectuals that helped form a coalition that would be the backbone of the Democratic Party for years to come.
Americans attitude towards life, work and their community was deeply affected by the hardships that were suffered during the great depression. Most people wanted and started protecting themselves from ever going without food, water and money or even lacking of necessities. This quickly made a lot of people realize the importance of saving money. A lot of people focused on accumulation material possession so as to create a comfortable life one that was very far from what they experienced during the depression.
CAUSES
After world war 1, many Americans in the late 1910’s and 1920 began to ignore international issues and social concerns and focused more towards greater individualism. This was mainly based on getting rich, enjoying their wealth , new inventions and new ideas. The traditional norms of the rural American were challenged by the rapid growth of urban life style which included the jazz age, which was accompanied by women smoking, drinking and wearing short skirts and wearing make up. These kind of qualities quickly made a lot of the young people move to cities from the rural areas and these led to only a few people left to cultivated the land and grow crops which the country heavily depended on.
Modern industries had the ability to produce a large quantity of consumer goods and services that easily complemented the ever growing self-centered attitudes of Americans in the 1920s but this created a bigger problem; prosperity could only continued if the demand for this kind of goods and services were made to grow as rapidly as the supply of them. “The key to economic prosperity,” a General Motors executive declared in 1929, “is the organized creation of dissatisfaction.” With this kind of advertising, more people were more willing to abandon the pro-american traditional values of saving, postponing pleasures and purchasing what is needed and not wanted. This kind of behavior kept the economy growing through most of the 1920s, but came at a cost.
Income was not properly distributed with portion going to the wealthiest Americans grew larger as the decade proceeded. This was mainly becauses of two factors; While workers got a relatively small share of the wealth produced, the businesses made astonishing gains in productivity during the 1920s. Between 1923 and 1929, manufacturing output per person-hour increased by 32 percent, but workers’ wages grew by only 8 percent. Corporate profits shot up by 65 percent in the same period, and the government let the wealthy keep more of those profits. The Revenue Act of 1926 cut the taxes of those making $1 million or more by more than two-thirds.
With one quarter of the American economy represented by farmers, farmers were already in economic depression in the 1920s which made it difficult for the m to particitipate in the consumer buying spree like the rest of America. During world war 1, the demand for farm goods was very high which was accompanied by low production of farm produce in Europe, which led to farmers growing more crops to export to the European markets. Soon after the war, the demand dropped sharply and American farmers found themselves competing in an over supplied international market that resulted in prices cuts and thus leading to farmers unable to sell their produce for a profit.
The sharp decline in international trade after 1930 constituted to the spreading of the depression. This was mainly caused by the American Smoot-Hawley Tariff Act of 1930. This act seriously reduced international trade which led to retaliatory regulations from other countries towards America, especially those countries that owned resources that American prosper without. As a result in dollar terms, exports from America declined from $5.2 billion in 1929 to 1.7 billion in 1933. The hardest hit were cash crops such as wheat, cotton, tobacco and lumber.
EFFECTS
From 1929 to 1933, unemployment soared from a mediocre 3.2 percent to 24.9 percent, which left 15 million Americans without sources of income. For those who kept their jobs experienced severe wage cuts and many could only find part time jobs.
Many banks carelessly gave out loans in huge amounts to people who could not repay the loans on time or never paid the loans at all. Some banks lost a lot of money by investing in the stock market which was slowly and failing. When depositers that were hit hard by the depression went to withdraw money, the banks at times didn’t have money to give them. As a result of this, other depositors went into a panic mode and demanded their cash that result in many banks failing due to lack of funds. By the winter of 1932 to 1933, 87 percent of the banking system hard reached the point nearly completed collapse wiping out savings of millions of people.
Between 1929 and 1933, the rate of foreclosure rose from 2 percent to 37 percent because mostly had lost their jobs and life savings and could not come up with money to pay mortgages for their homes and farms. This led to an increase in the number of people that became homeless during that period of time. So did the number of “Hoovervilles” which were built out of bitterness toward President Herbert Hoover, who refused to provide government aid to the unemployed and homeless.
Natural catastrophies like earthquakes, tornadoes and hurricanes catalized the rapid growth to the depression. In 1930 in Arkansas, a severe drought spread across the great plains through the middle of the decade. The once rich top soil that supported productions of crops and food was turned into fine dust and eroded way by wind. Sometimes this eroded soiled created sandstorms when they mixed with big winds that became known as Dust Bowl in parts of Kansas, Oklahoma, Texas, New Mexico and Colorado. This drought destroyed the livelihood of hundreds of thousands of small farmers. Farmers packed up their families and meager possessions, as many of them migrated to California in search of work. Author John Steinbeck created an unforgettable fictional portrait of their fate in the novel The Grapes of Wrath(1939).
The great depression led to an increase in the crime rate as many of the unemployed people resorted to stealing just put food on the table for their families. Prostitution skyrocketed as more desperate women turned to selling their bodies for money to provide essential needs for their children. Life during the depression was extremely hard and with no end in sight, those that were hit hard and couldn’t cope choose to commit suicide so as to put themselves out of their misery.
Health care deteorated soo badly, that most people only considered going to visit a doctor only in times of the direst of circumstances like life threatening illness. With cost of funeral at an all time high, people resulted to burning the deceased ones since most people could not afford funeral costs.
Alcoholism increased with Americans seeking outlets for escape, compounded by the repeal of prohibition in 1933. Cigar smoking became too expensive, so many Americans switched to cheaper cigarettes. Sometimes when alcohol and cigarettes, didn’t help them soothe their pains, many resulted in using hard drugs such as opium which later fueled the rise in crime.
Higher education was well out of reach of most Americans as universities and colleges saw a sharp decline in student body during the first half of the decade. High school attendance increased among males, however. Because the prospects of a young male getting a job were so incredibly dim, many decided to stay in school longer. However, public spending on education declined sharply, causing many schools to open understaffed or close due to lack of funds.
Also their was a sharp change in demographic trends such as marriages. This was mainly due to the fact that many males chose to wait until they can provide for their families before proposing to a prospective female. Divorce rate declined as rate of abandonment increased tremendously as many men choose the “poor mans divorce” option. Birth rates dropped during the lowest points of the depression as many Americans learned about the birth control so as to avoid added expenses of unexpected children.
During the great depression, mass migration continued as many people moved from the unfertile lands in the rural areas to the cities in search of opportunity. For example rural New England and upstate New York lost man citizens seeking better life elsewhere. The Great Plains which were previously known for their dominant growth of cash crops lost their population to states such as California and Arizona. The Dust Bowl sent thousands of "OKIES" and "ARKIES" looking to make a better life. Many of the MIGRANTS were adolescents seeking opportunity away from a family that had younger mouths to feed.
As the great depression continued to be tougher, discrimination was at an all time high. Federal, state and local government and also some of the private sectors resulted into using explicit policies in the 1930s to favor men over women for jobs. During that period, the labor market was highly segment by gender with the perception that jobs should be allocated to men only “breadwinners”. Those women that were married were the first to be laid off.
Dicrimination didn’t stop there, surveys that were conducted between 1929 and 1935 showed that unemployment rate among the blacks ranged between 30 percent and 50 percent higher than among whites. For example, abound of black workers were laid off to create room for white workers.
One might expect the Great Depression to have induced great skepticism about the economic system and the cultural attitudes favoring hard work and consumption associated with it. As noted, the ideal of hard work was reinforced during the depression, and those who lived through it would place great value in work after the war. Those who experienced the depression were disposed to thrift, but they were also driven to value their consumption opportunities.
The introduction of securities regulation in the 1930s did undeniable a lot to improve the efficiency, fairness and the stability of American stock markets. These regulations helped deliver American from the depression gradually. Some of these security regulation included bank supervision, the introduction of deposit insurance in 1934, which helped end the scourge of bank panics thus depositors no longer had the desire to rush to their banks at the first rumor of trouble. But the deposit insurance also created a problem. This insurance allowed banks to engage in overly risky activities with the depositors money with the luxury of knowing that the depositor will not penalize them.
mbaya
Banned
One of the main reason that led to the collapse and commencing of the great depression, was world war 1. After world war 1, many of the European countries had to pay for their war debts and reparations. The united states was the main creditor to these countries. However, many of the bankers in America were to really prepared for this kind of responsibility and they were loaning out a lot of money to countries that couldn’t even afford to pay back.
The 1920s appeared to be a prosperous time on the surface, but looking in depth at that period it clearly shows that income was unevenly distributed and the wealthy made big profits, but more and more Americans spent more than they earned.
Soon after Roosevelt came into office and introduced the New deal, the deal brought together a new , liberal political alliance in the united states. Roosevelt policies won the support of many labor unions, blacks, religious and ethnic communities of different background and people that received relief, help from the government, farmers and intellectuals that helped form a coalition that would be the backbone of the Democratic Party for years to come.
Americans attitude towards life, work and their community was deeply affected by the hardships that were suffered during the great depression. Most people wanted and started protecting themselves from ever going without food, water and money or even lacking of necessities. This quickly made a lot of people realize the importance of saving money. A lot of people focused on accumulation material possession so as to create a comfortable life one that was very far from what they experienced during the depression.
CAUSES
After world war 1, many Americans in the late 1910’s and 1920 began to ignore international issues and social concerns and focused more towards greater individualism. This was mainly based on getting rich, enjoying their wealth , new inventions and new ideas. The traditional norms of the rural American were challenged by the rapid growth of urban life style which included the jazz age, which was accompanied by women smoking, drinking and wearing short skirts and wearing make up. These kind of qualities quickly made a lot of the young people move to cities from the rural areas and these led to only a few people left to cultivated the land and grow crops which the country heavily depended on.
Modern industries had the ability to produce a large quantity of consumer goods and services that easily complemented the ever growing self-centered attitudes of Americans in the 1920s but this created a bigger problem; prosperity could only continued if the demand for this kind of goods and services were made to grow as rapidly as the supply of them. “The key to economic prosperity,” a General Motors executive declared in 1929, “is the organized creation of dissatisfaction.” With this kind of advertising, more people were more willing to abandon the pro-american traditional values of saving, postponing pleasures and purchasing what is needed and not wanted. This kind of behavior kept the economy growing through most of the 1920s, but came at a cost.
Income was not properly distributed with portion going to the wealthiest Americans grew larger as the decade proceeded. This was mainly becauses of two factors; While workers got a relatively small share of the wealth produced, the businesses made astonishing gains in productivity during the 1920s. Between 1923 and 1929, manufacturing output per person-hour increased by 32 percent, but workers’ wages grew by only 8 percent. Corporate profits shot up by 65 percent in the same period, and the government let the wealthy keep more of those profits. The Revenue Act of 1926 cut the taxes of those making $1 million or more by more than two-thirds.
With one quarter of the American economy represented by farmers, farmers were already in economic depression in the 1920s which made it difficult for the m to particitipate in the consumer buying spree like the rest of America. During world war 1, the demand for farm goods was very high which was accompanied by low production of farm produce in Europe, which led to farmers growing more crops to export to the European markets. Soon after the war, the demand dropped sharply and American farmers found themselves competing in an over supplied international market that resulted in prices cuts and thus leading to farmers unable to sell their produce for a profit.
The sharp decline in international trade after 1930 constituted to the spreading of the depression. This was mainly caused by the American Smoot-Hawley Tariff Act of 1930. This act seriously reduced international trade which led to retaliatory regulations from other countries towards America, especially those countries that owned resources that American prosper without. As a result in dollar terms, exports from America declined from $5.2 billion in 1929 to 1.7 billion in 1933. The hardest hit were cash crops such as wheat, cotton, tobacco and lumber.
EFFECTS
From 1929 to 1933, unemployment soared from a mediocre 3.2 percent to 24.9 percent, which left 15 million Americans without sources of income. For those who kept their jobs experienced severe wage cuts and many could only find part time jobs.
Many banks carelessly gave out loans in huge amounts to people who could not repay the loans on time or never paid the loans at all. Some banks lost a lot of money by investing in the stock market which was slowly and failing. When depositers that were hit hard by the depression went to withdraw money, the banks at times didn’t have money to give them. As a result of this, other depositors went into a panic mode and demanded their cash that result in many banks failing due to lack of funds. By the winter of 1932 to 1933, 87 percent of the banking system hard reached the point nearly completed collapse wiping out savings of millions of people.
Between 1929 and 1933, the rate of foreclosure rose from 2 percent to 37 percent because mostly had lost their jobs and life savings and could not come up with money to pay mortgages for their homes and farms. This led to an increase in the number of people that became homeless during that period of time. So did the number of “Hoovervilles” which were built out of bitterness toward President Herbert Hoover, who refused to provide government aid to the unemployed and homeless.
Natural catastrophies like earthquakes, tornadoes and hurricanes catalized the rapid growth to the depression. In 1930 in Arkansas, a severe drought spread across the great plains through the middle of the decade. The once rich top soil that supported productions of crops and food was turned into fine dust and eroded way by wind. Sometimes this eroded soiled created sandstorms when they mixed with big winds that became known as Dust Bowl in parts of Kansas, Oklahoma, Texas, New Mexico and Colorado. This drought destroyed the livelihood of hundreds of thousands of small farmers. Farmers packed up their families and meager possessions, as many of them migrated to California in search of work. Author John Steinbeck created an unforgettable fictional portrait of their fate in the novel The Grapes of Wrath(1939).
The great depression led to an increase in the crime rate as many of the unemployed people resorted to stealing just put food on the table for their families. Prostitution skyrocketed as more desperate women turned to selling their bodies for money to provide essential needs for their children. Life during the depression was extremely hard and with no end in sight, those that were hit hard and couldn’t cope choose to commit suicide so as to put themselves out of their misery.
Health care deteorated soo badly, that most people only considered going to visit a doctor only in times of the direst of circumstances like life threatening illness. With cost of funeral at an all time high, people resulted to burning the deceased ones since most people could not afford funeral costs.
Alcoholism increased with Americans seeking outlets for escape, compounded by the repeal of prohibition in 1933. Cigar smoking became too expensive, so many Americans switched to cheaper cigarettes. Sometimes when alcohol and cigarettes, didn’t help them soothe their pains, many resulted in using hard drugs such as opium which later fueled the rise in crime.
Higher education was well out of reach of most Americans as universities and colleges saw a sharp decline in student body during the first half of the decade. High school attendance increased among males, however. Because the prospects of a young male getting a job were so incredibly dim, many decided to stay in school longer. However, public spending on education declined sharply, causing many schools to open understaffed or close due to lack of funds.
Also their was a sharp change in demographic trends such as marriages. This was mainly due to the fact that many males chose to wait until they can provide for their families before proposing to a prospective female. Divorce rate declined as rate of abandonment increased tremendously as many men choose the “poor mans divorce” option. Birth rates dropped during the lowest points of the depression as many Americans learned about the birth control so as to avoid added expenses of unexpected children.
During the great depression, mass migration continued as many people moved from the unfertile lands in the rural areas to the cities in search of opportunity. For example rural New England and upstate New York lost man citizens seeking better life elsewhere. The Great Plains which were previously known for their dominant growth of cash crops lost their population to states such as California and Arizona. The Dust Bowl sent thousands of "OKIES" and "ARKIES" looking to make a better life. Many of the MIGRANTS were adolescents seeking opportunity away from a family that had younger mouths to feed.
As the great depression continued to be tougher, discrimination was at an all time high. Federal, state and local government and also some of the private sectors resulted into using explicit policies in the 1930s to favor men over women for jobs. During that period, the labor market was highly segment by gender with the perception that jobs should be allocated to men only “breadwinners”. Those women that were married were the first to be laid off.
Dicrimination didn’t stop there, surveys that were conducted between 1929 and 1935 showed that unemployment rate among the blacks ranged between 30 percent and 50 percent higher than among whites. For example, abound of black workers were laid off to create room for white workers.
One might expect the Great Depression to have induced great skepticism about the economic system and the cultural attitudes favoring hard work and consumption associated with it. As noted, the ideal of hard work was reinforced during the depression, and those who lived through it would place great value in work after the war. Those who experienced the depression were disposed to thrift, but they were also driven to value their consumption opportunities.
The introduction of securities regulation in the 1930s did undeniable a lot to improve the efficiency, fairness and the stability of American stock markets. These regulations helped deliver American from the depression gradually. Some of these security regulation included bank supervision, the introduction of deposit insurance in 1934, which helped end the scourge of bank panics thus depositors no longer had the desire to rush to their banks at the first rumor of trouble. But the deposit insurance also created a problem. This insurance allowed banks to engage in overly risky activities with the depositors money with the luxury of knowing that the depositor will not penalize them.
The 1920s appeared to be a prosperous time on the surface, but looking in depth at that period it clearly shows that income was unevenly distributed and the wealthy made big profits, but more and more Americans spent more than they earned.
Soon after Roosevelt came into office and introduced the New deal, the deal brought together a new , liberal political alliance in the united states. Roosevelt policies won the support of many labor unions, blacks, religious and ethnic communities of different background and people that received relief, help from the government, farmers and intellectuals that helped form a coalition that would be the backbone of the Democratic Party for years to come.
Americans attitude towards life, work and their community was deeply affected by the hardships that were suffered during the great depression. Most people wanted and started protecting themselves from ever going without food, water and money or even lacking of necessities. This quickly made a lot of people realize the importance of saving money. A lot of people focused on accumulation material possession so as to create a comfortable life one that was very far from what they experienced during the depression.
CAUSES
After world war 1, many Americans in the late 1910’s and 1920 began to ignore international issues and social concerns and focused more towards greater individualism. This was mainly based on getting rich, enjoying their wealth , new inventions and new ideas. The traditional norms of the rural American were challenged by the rapid growth of urban life style which included the jazz age, which was accompanied by women smoking, drinking and wearing short skirts and wearing make up. These kind of qualities quickly made a lot of the young people move to cities from the rural areas and these led to only a few people left to cultivated the land and grow crops which the country heavily depended on.
Modern industries had the ability to produce a large quantity of consumer goods and services that easily complemented the ever growing self-centered attitudes of Americans in the 1920s but this created a bigger problem; prosperity could only continued if the demand for this kind of goods and services were made to grow as rapidly as the supply of them. “The key to economic prosperity,” a General Motors executive declared in 1929, “is the organized creation of dissatisfaction.” With this kind of advertising, more people were more willing to abandon the pro-american traditional values of saving, postponing pleasures and purchasing what is needed and not wanted. This kind of behavior kept the economy growing through most of the 1920s, but came at a cost.
Income was not properly distributed with portion going to the wealthiest Americans grew larger as the decade proceeded. This was mainly becauses of two factors; While workers got a relatively small share of the wealth produced, the businesses made astonishing gains in productivity during the 1920s. Between 1923 and 1929, manufacturing output per person-hour increased by 32 percent, but workers’ wages grew by only 8 percent. Corporate profits shot up by 65 percent in the same period, and the government let the wealthy keep more of those profits. The Revenue Act of 1926 cut the taxes of those making $1 million or more by more than two-thirds.
With one quarter of the American economy represented by farmers, farmers were already in economic depression in the 1920s which made it difficult for the m to particitipate in the consumer buying spree like the rest of America. During world war 1, the demand for farm goods was very high which was accompanied by low production of farm produce in Europe, which led to farmers growing more crops to export to the European markets. Soon after the war, the demand dropped sharply and American farmers found themselves competing in an over supplied international market that resulted in prices cuts and thus leading to farmers unable to sell their produce for a profit.
The sharp decline in international trade after 1930 constituted to the spreading of the depression. This was mainly caused by the American Smoot-Hawley Tariff Act of 1930. This act seriously reduced international trade which led to retaliatory regulations from other countries towards America, especially those countries that owned resources that American prosper without. As a result in dollar terms, exports from America declined from $5.2 billion in 1929 to 1.7 billion in 1933. The hardest hit were cash crops such as wheat, cotton, tobacco and lumber.
EFFECTS
From 1929 to 1933, unemployment soared from a mediocre 3.2 percent to 24.9 percent, which left 15 million Americans without sources of income. For those who kept their jobs experienced severe wage cuts and many could only find part time jobs.
Many banks carelessly gave out loans in huge amounts to people who could not repay the loans on time or never paid the loans at all. Some banks lost a lot of money by investing in the stock market which was slowly and failing. When depositers that were hit hard by the depression went to withdraw money, the banks at times didn’t have money to give them. As a result of this, other depositors went into a panic mode and demanded their cash that result in many banks failing due to lack of funds. By the winter of 1932 to 1933, 87 percent of the banking system hard reached the point nearly completed collapse wiping out savings of millions of people.
Between 1929 and 1933, the rate of foreclosure rose from 2 percent to 37 percent because mostly had lost their jobs and life savings and could not come up with money to pay mortgages for their homes and farms. This led to an increase in the number of people that became homeless during that period of time. So did the number of “Hoovervilles” which were built out of bitterness toward President Herbert Hoover, who refused to provide government aid to the unemployed and homeless.
Natural catastrophies like earthquakes, tornadoes and hurricanes catalized the rapid growth to the depression. In 1930 in Arkansas, a severe drought spread across the great plains through the middle of the decade. The once rich top soil that supported productions of crops and food was turned into fine dust and eroded way by wind. Sometimes this eroded soiled created sandstorms when they mixed with big winds that became known as Dust Bowl in parts of Kansas, Oklahoma, Texas, New Mexico and Colorado. This drought destroyed the livelihood of hundreds of thousands of small farmers. Farmers packed up their families and meager possessions, as many of them migrated to California in search of work. Author John Steinbeck created an unforgettable fictional portrait of their fate in the novel The Grapes of Wrath(1939).
The great depression led to an increase in the crime rate as many of the unemployed people resorted to stealing just put food on the table for their families. Prostitution skyrocketed as more desperate women turned to selling their bodies for money to provide essential needs for their children. Life during the depression was extremely hard and with no end in sight, those that were hit hard and couldn’t cope choose to commit suicide so as to put themselves out of their misery.
Health care deteorated soo badly, that most people only considered going to visit a doctor only in times of the direst of circumstances like life threatening illness. With cost of funeral at an all time high, people resulted to burning the deceased ones since most people could not afford funeral costs.
Alcoholism increased with Americans seeking outlets for escape, compounded by the repeal of prohibition in 1933. Cigar smoking became too expensive, so many Americans switched to cheaper cigarettes. Sometimes when alcohol and cigarettes, didn’t help them soothe their pains, many resulted in using hard drugs such as opium which later fueled the rise in crime.
Higher education was well out of reach of most Americans as universities and colleges saw a sharp decline in student body during the first half of the decade. High school attendance increased among males, however. Because the prospects of a young male getting a job were so incredibly dim, many decided to stay in school longer. However, public spending on education declined sharply, causing many schools to open understaffed or close due to lack of funds.
Also their was a sharp change in demographic trends such as marriages. This was mainly due to the fact that many males chose to wait until they can provide for their families before proposing to a prospective female. Divorce rate declined as rate of abandonment increased tremendously as many men choose the “poor mans divorce” option. Birth rates dropped during the lowest points of the depression as many Americans learned about the birth control so as to avoid added expenses of unexpected children.
During the great depression, mass migration continued as many people moved from the unfertile lands in the rural areas to the cities in search of opportunity. For example rural New England and upstate New York lost man citizens seeking better life elsewhere. The Great Plains which were previously known for their dominant growth of cash crops lost their population to states such as California and Arizona. The Dust Bowl sent thousands of "OKIES" and "ARKIES" looking to make a better life. Many of the MIGRANTS were adolescents seeking opportunity away from a family that had younger mouths to feed.
As the great depression continued to be tougher, discrimination was at an all time high. Federal, state and local government and also some of the private sectors resulted into using explicit policies in the 1930s to favor men over women for jobs. During that period, the labor market was highly segment by gender with the perception that jobs should be allocated to men only “breadwinners”. Those women that were married were the first to be laid off.
Dicrimination didn’t stop there, surveys that were conducted between 1929 and 1935 showed that unemployment rate among the blacks ranged between 30 percent and 50 percent higher than among whites. For example, abound of black workers were laid off to create room for white workers.
One might expect the Great Depression to have induced great skepticism about the economic system and the cultural attitudes favoring hard work and consumption associated with it. As noted, the ideal of hard work was reinforced during the depression, and those who lived through it would place great value in work after the war. Those who experienced the depression were disposed to thrift, but they were also driven to value their consumption opportunities.
The introduction of securities regulation in the 1930s did undeniable a lot to improve the efficiency, fairness and the stability of American stock markets. These regulations helped deliver American from the depression gradually. Some of these security regulation included bank supervision, the introduction of deposit insurance in 1934, which helped end the scourge of bank panics thus depositors no longer had the desire to rush to their banks at the first rumor of trouble. But the deposit insurance also created a problem. This insurance allowed banks to engage in overly risky activities with the depositors money with the luxury of knowing that the depositor will not penalize them.
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