Today we began to discuss our weekly blogs. Tony started off by talking about the election of 1928, between Herbert Hoover (D) and Al Smith (R). Mr. Bruns told us that in March, 1929 when Hoover was sworn in to office, he said that there would be "a chicken in every pot and two cars in every garage". It was funny, and sad that just a few months later in October, the Stock Market crashed.
Next, Rachel talked about, whowudda guessed, the Stock Market.
The Stock Market collaboration of the buying and selling of stocks.
The Dow Jones Industrial Average consists of the top 30 richest companies in the nation, and the stocks and money bought and traded.
In the 1920's, the stock market was booming, mostly. She talked about paying with credit, and the interest in getting involved in the stock market. Only about 3% of people, however, got involved.
Speculators: look to make a quick profit from stock, then sell it.
Mr. Bruns then leaped from his desk to explain the vicious cycle of the Great Depression:
People don't buy goods ----> Companies don't make money -----> People lose jobs ---->
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