Today we continued with our blog discussions.Companies were going bankrupt and failing so when people bought into a business there really wasn’t any value. A few days before black Thursday the stocks went up and people were still optimistic. On Thursday it went down and people panicked like crazy. There were rich people who would try to put millions into stocks to keep it from crashing but it didn’t help. One person couldn’t change the falling of the stock market. On Tuesday the stock market crashed completely. The rich people had everything and the poor people had things too, but were in major debt.Because companies were failing they had to cut wages and fire people. Because people were getting fired and losing their main income they weren’t able to buy things. Because people weren’t able to buy things, companies suffered even more. The tariffs were raised on imported goods. So it made people buy more American goods instead of foreign goods. It also would help employ people and allow people to buy American goods to help American businesses. Other countries put high tariffs on American goods, which hurt businesses still. So this was designed to help our problem, but in the end it didn’t at all.We had a problem with the internet today. Its fourth hour all over again! Mr. Bruns said we would be moving into the New Deal. The New Deal was President Roosevelt’s way to get out of the depression. He also told us we would be doing a project over this. This project would be done individually. My topic is, FDIC, Federal Deposit Insurance Corporation. He went over the way to do power points, mainly for the new students.
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