Idea Transcript
Stock Market crash/The Great Depression/of Mice and men 1929-1939
Tuesday, September 17, 13
30 billion dollars lost in 1 week Tuesday, September 17, 13
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What was the Stock market crash?
The rise in stock market and the ease with which banks doled out loans and debts in the start of 1920s lead to a sudden increase in the credit based investments in the stock market. Economists and the general public at that time firmly believed that the market was only going to get better and better, that there was no stopping the rise. The speculative nature of the, “general investing public”, lead to tremendous increase in stock investments over a period of one decade. However, on October 29, 1929 which later on came to be known as “Black Tuesday” and the “Stock Market Crash of 1929”, this speculative bubble finally burst. Starting in October 1929, over a period of one week, nearly $30 billion dollars were lost. The market kept going further down until it stagnated after a month at a low that predated the 20th century. The stock market crash of 1929, many hold responsible for the start of the great depression, which lasted at least for another decade all over the world. This assumption was partly true since, the pace and the intensity of the crash almost instantaneously crippled many financial institutions and resulted in directly affecting stable and prospering industries. With a dearth in liquidity, growth faltered and interest rates soared. Many other wise stable ventures crashed and burned along with the markets.
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Today, many financial experts and analysts agree that the stock market crash of 1929 happened because of the two reasons namely, the speculative nature of the public and short selling. Brokerage firms were giving about an average of 66% margin to investors to buy stocks which meant that most shares were purchased using huge amounts of loans rather than cash. Secondly, with the start of the bear market, short sellers went on a rampage reducing the price of shares even further in an effort to buy them at the cheapest. One interesting trivia about this dark period was that the Japanese market was the lone world market that did not fall.
1933 • 1933 was the worst year of the depression with unemployment peaking at 25.2% with ( 1 in 4 people unemployed ) in 1933 . Adolf Hitler became the chancellor of Germany and opened the first concentration camp at Dachau. 10's of thousands travelled the road and rail in America looking for work ,
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and the US banking system which was under great strain was propped up by the US government ( US banking act of 1933 )to try and stop the panic of people withdrawing their money from the banks. the continuing drought in the Midwest made even more of the land into dust bowls.
Average Cost of a New house • $5,750.00 • Monthly Rent: $18.00
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Avg Yearly Income • $1,550.00 • http://www.bls.gov/ data/ inflation_calculator.htm
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Other costs of items • Cost of a gallon of Gas 10 cents
• Silk and Rayon Stockings 39 cents a Pair
• Vacuum Cleaner $17.75
• Plymouth 6 Car $445.00
• A loaf of Bread 7 cents
• Campbells Vegetable Soup 10 cents
• Newport Boulevard Ladies Hat $1.69 • A LB of Hamburger Meat 11 cents
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• 1933 Vintage Radio $52.00 • Average Laborers Wage $20.00 per week
Other Events in 1933 • 1st Machine Gun is demonstrated in Japan
• Electron Microscope Germany by Ernst Ruska
• Hitler becomes Chancellor of Germany & creates a one party nation
• Drive in Movie Theater USA by Richard Hollingshead
• Alcatraz becomes a federal penitentiary • Loch Ness Monster is spotted for the first time
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Inventions in the 30s
• Ballpoint Pen ----- 1938 Hungary by Laszlo Biró - also called a biro (UK) BBC Television ----- 1932 England first regular TV broadcasts (London) Catseyes ----- 1934 England by Percy Shaw - for lighting roads Electric Razor ----- 1931 USA by Jacob Schick Electron Microscope ----- 1933 Germany by Ernst Ruska Frequency Modulation FM ----1939 USA by Edwin H Armstrong sound by radio waves Helicopter ----- 1936 Germany by Heinrich Focke
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Jet Engine ----- 1930 England by Frank Whittle Nylon ----- 1931 USA by Wallace Corothers - artificial silk Magnetic Recording ----- 1936 USA audio tapes Photocopier ----- 1938 USA by Chester Carlson Polaroid ----- 1932 USA by Edwin Herbert Land Radar (for Aircraft) ----- 1935 Scotland by Robert Watson-Watt Radio Telescope ----- 1932 USA by Karl Jansky Sticky Tape ----- 1930 USA
Now Mrs. B...what does this have to do with Mice & Men? Of mice and men is set during the worst year of the great depression. lennie and george are constantly looking for work.
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The author John Ernst Steinbeck, Jr. (February 27, 1902 – December 20, 1968) was an American writer. He is widely known for the Pulitzer Prizewinning novel The Grapes of Wrath (1939), East of Eden (1952) and the novella Of Mice and Men (1937). As the author of twenty-seven books, including sixteen novels, six non-fiction books, and five collections of short stories, Steinbeck received the Nobel Prize for Literature in 1962.
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WHERE CAN WE GO FOR HELP????? http://www.shmoop.com/ of-mice-and-men/
www.studysync.com
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