Today we discussed......What we are going to be doing in the next few couple of days. The stockmarket crashed in 1929. Hoover was blamed for depression. The great recessin, with a long recovery. GDP- total amount of goods and services obtained by a country per year. Consumption= Buying something. George Bush stimulated people by giving them tax rebate checks. Cycle get better when, production goes up, employment goes up and income increases wich in turn is consumpionised. Chuck is going to try to get 100million dollars in edu fund. I understand this cycle very well.Causes of crash, People stopped buying things. Industries over produced. Rich got Richer, Poor got Poorer. Banks run out of money. Federal Reserve set up. Bankers Bank. People lost confidence in the system and started selling thir stocks.
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