Posted by 4Austin K on January 18, 2010 at 11:09am
Today in class we found out what our project is going to be about. We also finished our blog discussion over the Causes of the Stock Market crash and the Great Depression. We found out of project information. I have to do my project over the Emergency Bank Relief Act or also known as the Bank Holiday and Social Security Administration (Act). I think that we should get more time to do this project because we have two projects to do. I don't mind doing the blogs but they are time consuming and when you have a job that you work about four days a week and about a total of 20 hours a week it is really hard to get the big blogs done because I usually work a lot on the weekend. Mr. Bruns thinks that we need short bullets so that we don't read straight from our presentations. The more pictures the better in our projects. Since I already have my points for blog discussion, I only had to participate in paying attention and listening to what other people had to say about the discussion. Jesse Livermore made more money on Black Tuesday than any other day that he had money in the stock market.Causes of the Great DepressionPeople that bought to much on margin that they ended up to far in debt. Many people could not afford to pay off the stock they bought on margin. Buying on Margin is like buying on credit. Wealth was unequally distributed between the rich and poor. People were in debt so they stopped buying things. By the late 1920’s, companies could not make any money. The stock market crash led to financial struggle. Farmers did not do well in the roaring 1920’s. The government passed a higher tariff on imported goods. A tariff is designed to force people to buy American made goods and when the high tariff became into effect, the worldwide market had to increase their tariffs on American imported goods. Industrial and Agricultural had to many products and they could not sell anything because people would not buy any thing because of being in debt.
Comments