Today, I began my day in US History by getting completely creeped out by Drea's spider facts. I still have goosebumps. Ew.
Then, we reviewed everything we've talked about over the past week, and began focusing on the main causes of the Stock Market Crash and the Great Depression. Mr. Bruns said that people paniced before the actual crash because fortune tellers and other experts were predicting that the market was going to fail. People then withdrew their stocks and prices went down.
We then said that little spending , due to either poverty or contentment, lead to the failure of companies BEFORE the crash of 1929. However, stock prices were going up while the companies lost money. They were grossly overpriced, due to overspeculation, fraud, buying on margin (paying only a portion of something, getting money in stock).
We then heard about the Federal Reserve policy, which was established by Wilson. It was an attempt to keep banks from failing in time of crisis. The federal reserve continues to establish the interest rates of the country today. During the Great Depression, they attempted to raise the rates to generate more money.
Then, we were given out assigned blog/ powerpoint topics. We have two.
I have the Agricultural Adjustment Act (apperantly constitutional AND unconstitutional?) and Defecit Spending. Woo.
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