Today in class we are going over the Great Depression. Mr. Bruns is going down the list and everyone is talking about some cause or something about the Great Depression. Here is what my class came up with.Pooling-when a group of investors get together to buy a stock. The rich guys are now selling it to the commoner, making 15-20 times more than what they paid for.Federal Reserve Board-They realized the stock market was grossly inflated, so they raised interest rates to keep people from borrowing money, which also hurts the economy.Jesse Livermore- He had committed suicide did not lose everything in stock market. When laws were put on stock market, he lost his lust for life and eventually shot himself.Mitchell- had lost everything in stock market. All of it, and he never made a comeback.High Tariff Policy- Increased terrace on stock market to force people to buy American goods, great for American businesses: the problem with this is that we depended on other people buying our goods. When other countries did this same thing, they did t he same to us. It overall hurt world wide trade.We made all countries pay us back from World War I. We weren’t very smart because we wouldn’t trade with them.Droughts- in Mississippi.Debt- people had borrowed money for banks, or taken out loans, and would not be able to pay back their debts. This is known as the stock market crash.Causes--Wealth is unequally distributed amoung the population-Many people go into debt on installment plans-Old and decaying industrial base makes US industry less competitive-Industry and agricultures overproduce-Government pursues unsuccessful economic polices-tariff-Stock market crash leads to financial panic-speculationThe Great DepressionEffects--People suffer widespread unemployment, hunger, poverty, and homelessness-Industrial and farm production fallsNow Mr. Bruns is assigned our next project topics. We will each have two of our own topic; he will be going over the projects and what to do tmr in class, and has not set a due date yet.For the next project, my topic will be:Emergency Banking Releif Act/ Bank HolidayandThe Main Differences between the second and first New Deal*oraganization under FDR's New Deal
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