When we first got into class Mr Bruns had a little pop quiz for us. We had to write down five things about the movie that we watched yesterday over the 1920's and 30's. Mr Bruns called our pop quiz a write to learn, I think. It was really easy, he said he was going to go easy one everyone pretty much.Today we talked about the stock market crash. Mr Bruns showed us a line graph of much the stock market shot up and how much it went down when it crashed. President Hoover was the president during the time of the stock market crash and the Great Depression. Many people put a lot of blame on him. In 1927 the stock market shot up majorly, 1929 was when the stock market crashed. Franklin Roosevelt took over after Hoover. After 1933 which was the actual depression there was a couple years of recovery. We also talked about the negative cycle. Consumptions(people stop buying luxury goods) - employment(people aren't buying things so companies have to fire people) - income(peoples incomes goes down, they have even less money to buy things that companies need people to buy to survive and not fire more people.)Causes of the stock market crash:-Unequal distribution of income was a cause. There was more production of goods and the cost to make those goods decreased. Workers wages stayed the same. So business owners started getting a lot more money. Companies were producing and producing and nobody was buying because of the circle I talked about earlier. People were buying on stock, banks were closing, and people who didn't get their money out before they closed lost everything.
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