Monday- Presentations and forum post leaders
Jazz music, board games (monopoly), Magic tricks (Houdini), Dancing
Mickey Mouse (steamboat Willie)
Lots of purchases with credit cards - rapid growth in loans and bank credit
People went into debt by taking out loans to put into the stock market
Agricultural Recession- crop prices low and farmers producing too much after the war
Manufacturers were producing too much and the demand was too low
Tuesday- Presentations
Lots of strikes due to harsh working conditions and bad hours
Police force went on strike and crime rates went up. All the officers got fired and got replaced and got everything the old officers wanted
1,300 new officers
Steel strike happened in September 1919 and ended January 1920
Started by AFL going on strike
Other industries joined and made it about 350,000 people
AFL - American Federation of Labor
Things got better
300,000 of the 350,000 ended up quitting their jobs
Strike failed after 15 weeks
World mine strike - 400,000 miners went on strike for 50% pay raise
Eventually got their raise up 27% (John L. Lewis
- Mine Workers Strikes- Asked for 27% wage increase, eventually got shorter work days and 5 days work weeks.
Wednesday-Gone
Thursday-
Slight recession but was still pretty good
Lowered unemployment rate = 4% to 12% from the recovery of WWI
Hoover tried to convince Harding to consider intervention
Harding's approach - laissez-faire which cut government budget in half
Debt was reduced by 1/3
After war time we go into recession because of the amount of resources we used
Federal reserve didn’t move to put more money into circulation because that would cause inflation which would make the value of a dollar less
Unemployment rate drastically went up but then shot down
The stock market is the selling of a part of a company and these shares are risky because if they do good you benefit but if they fail you do too
During 1927 it went up very fast until 1930 where it dropped drastically for 8 years
NASDAQ was founded in 1971 and uses averages from over 4,000 companies to track how they are doing
Dow Jones industrial Average (DJIA) - tracks the performance of 30 different , major companies, founded in 1882
Those companies are gauges to show how our government is going and how it is running
New york stock exchange - companies were getting loans from the banks but then weren't able to pay them back so everyone was failing and no one was making money
Buy stock on margin- was a cause to the crash
- GDP is the total value of the goods and services of a country, within its borders, for one year
Friday-
Charles Lindbergh- Born February 4, 1902, called lucky after being forced to parachute down 4 times, made his own customized plane, known for the longest flight at the time, 33 1/2 hours, 1st solo transatlantic flight, airplanes gained acceptance through him
The federal government rounded up and deported hundreds of immigrants with “radical political views”
Causes- fear of communism, russian monarchy was taken over by radical communists in 1918
There was a series of bombings in 1919 which was done by a group of communists and General Mitchell Palmer led a campaign against communists and arrested over 6,000 communists on New Year's Day 1920 called palmer raids, mass arrests and deportations of immigrant radicals.
Sacco and vanzetti case - Italian Americans, convicted of robbery and murder in 1921, They were known radicals, the judge and jury were prejudiced (Biased), were sentenced to death on April 9th, 1927
Anti immigration laws - limited the number of immigrants allowed in the U.S.
2% of the number of people in each nationality
- National origins act- set of requirements that discriminated against immigrants from southern and eastern europe (Excluded Asians)
New york stock exchange - companies were getting loans from the banks but then weren't able to pay them back so everyone was failing and no one was making money
Buy stock on margin- was a cause to the crash
GDP is the total value of the goods and services of a country, within its borders, for one year
Buying on credit- Most people in the 20’s were buying on credit but then
Tariff- Tax on imported goods. They are used to restrict trade, protect domestic jobs, protect infant industries, protect consumers
- Today Trump wants to put a 20% tax on imported goods if Mexico doesn't pay for the wall
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