In October of 1929, the Dow Jones Industrial Average fell 25% in four days, this is defined as the Stock Market Crash of 1929. Billions of dollars were lost, countless investors were crushed by the amount of money they lost, and a plethora of people were forced into debt. The Stock Market Crash intensified the Great Depression, which was was a time of economic calamity in America in the 1920’s and 1930’s. The Great Depression was caused by the consolidation of overproduction, false prosperity, unemployment, banking crises, and the stock market crash of 1929.
October 29, 1929 was perhaps one of the most dreadful days in American history for its economy. Before “Black Tuesday”, as it was known, stock prices had been dropping. As a result, America experienced a devastating reality known as the Stock Market Crash. Many economists hold the belief that it was caused due to people “buying on margin”. The effects of this were detrimental and quickly lead us into a depression, and not only for America, but around the world as well.
In the 30’s, the complications that came along with the Great Depression affected the public severely. In 1929, a stock market crash changed the country remarkably. Poverty and unemployment were widespread in the United States. Factors that led up to the Great Depression include buying on credit, buying on margin, ____________ The Great Depression was catastrophic for everyone but as usual, the African-American population had it harder. During the Great Depression, most African-Americans were working on farms owned by white landowners.
The early republic had frequent wars and changes in policies which eventually led to a collapse of central authority and economic contraction. In the republic of China, after the fall of the Qing dynasty, new industrial developments resulted in an increase in demand for Chinese goods. This demand led to an increase of profit for the industrial workers. Years later around 1931, the rural economy of China hit a Great Depression. The Great Depression was caused by an overproduction of agricultural goods which led to an increase on imports and falling prices in the Chinese market.
After the conclusion of WW1 the USA was in a war economy, and because of this industry boomed, causing a massive surplus of goods. This caused the prices of goods to go down, and with the creation of credit plans many families could afford extravagant luxuries, previously denied. This coupled with 18th amendment and prohibition, both of which backfired causing booze to be cheaper and easier to find thanks to moonshiners and speakeasies, made the decade wild overall. The average American could afford to party, and party they did. The rise in more risque dances, parties, and people (flappers) is what caused the US to over indulge, which directly lead to the great depression.
Throughout this journey, the hero encounter challenges, helpers, magical weapons, struggles, and enemies being vanquished. Tom Joad’s separation transpired after he was released from prison and when he left his home to move to California. The initiation develops from the time he gets out of jail to the time he arrives in California. During this part Tom is exposed to his challenges and helpers. Some of his challenges include finding a job, his grandparent dying, his dog being killed, and losing Noah.
John Ernst Steinbeck Jr was born in 1902 in Salinas, California, to a teacher and a treasurer of Monterey County. Growing up in a rural environment, Steinbeck developed a deep appreciation for agriculture and land, and would spend his summers working on ranches and with migrant workers. Much of Steinbeck's works are set in agricultural regions of California, which reflect his background. In his lifetime, Steinbeck wrote 27 prize winning novelas. As a winner of the 1962 Nobel Prize of Literature, his works are widely read and are seen as classics of western literature.
In the third chapter of The Grapes of Wrath by John Steinbeck, the author uses diction, symbolism, and imagery to foreshadow the Joad’s family journey to California through the connection with the turtle’s minutest movement. The turtle’s every movement portrays several circumstances that the Joad’s family have to overcome, in order to reach their goal to find reasonable jobs. Both the turtle and Joad’s family is traveling towards the southwest with different levels of obstacles waiting ahead of their journey, thus will provide discomfort with the lack of speed they have to succeed each and every problem. Also we can infer that the Joad’s family is moving really slowly and cautiously, because turtles are meant to be slow on land. So the author uses numerous rhetorical devices to correspond with the endurance of the turtle and the Joad’s family.
As America’s economic surge was reaching its peak in the 1920s an impending downfall came about. The financial “bubble” popped and on October 29, 1929 the ever so strong stock market crashed, known now as “Black Tuesday”. This created a domino effect that toppled over many other strongly depended on economic infrastructures resulting in the largest national financial crisis ever. At the time, Republican President Hoover implemented his “laissez faire” governing policies which did some good work but not near good enough to bring the country out of this hole. On the other hand, Democratic President Franklin D. Roosevelt insisted on a more “hands on” approach from the governing body, he claimed that this was a federal dilemma and that federal
Great depression begins when the stock market crash in 1929. The consumer spending dropped and unsold goods began to pile up, slowing production. Stock continued to rise. On October 24, 1929 the stock burst investors were dumping stock a record 12.9 million shares were traded that day known as “Black Tuesday”. Five days later some 16 million were traded the stock market had crashed.
Many people believe that The Great Depression began when the stock market crashed on October 29, 1929. In the mid to late 1920’s the stock market grew majorly, the stock prices skyrocketed gaining interest from all kinds of people. As stock prices continued to rise, the market became very poplar. Eventually the stock prices started to fall during September through early October, and by October 24 the market was starting to crash. On “Black Thursday” (October 24,1929) 12.9 million shares were traded in order for investors to save what little money they could.
There economical changes also went on and affected some other foreign countries. The attack made huge physical damage, costing the United States lots of money. Following the attack on September 11th, there was defense spending, which led to debt in the U.S. The debt came from “War on Terror”, including the wars in Iraq and Afghanistan. Both wars lasted between five to nine years.