Furthermore, the lack of being employed affects a family, Britney’s mother was affected tremendously and caused her hospitalization because she couldn’t deal with the stress of her family lacking an income. While homeless shelters have long waiting list and middle-income families are losing their homes with just a few days’ notice. Britney and Johnny’s families both were doing well until the recession hit and companies began to lay people
For example, a parent may worry it's their fault for holding their children back, but since college bound is here, their anxiety can be reduced. This will help students prepare for college instead of preparing for nothing. In my opinion, college bound scholarship was a genius idea. I state this because of many reasons, First of all, this reduces anxiety a parent might have. Like I said before, a parent might feel responsible that their children is not going to college and feel like it's unacceptable and work maybe 2 jobs to get the money.
In the Great Depression of 1932, the stock market crashed which caused a lot of Americans to try to sell their stock before the price got too low. For many of the Americans, they lost all their money and became very poor. Many banks shut down due to the lack of money they each contained. In order to fix this, a plan called, “The New Deal” that was created by FDR. The New Deal consisted of many new programs to promote money to the economy so it would be back in the same cycle it was before the Great Depression.
Banks were unable to keep up with loans because the Federal Reserve refused to backstop the banks. The banks eventually failed from lack of confidence from the public and bad loans. (Introduction) Five thousand banks had collapsed between 1923 and 1930. (Wall Street Crash of 1929) To add to the already messed up economy, agriculture was nothing to fall back on because it was already weakened beforehand with the mix of overproduction from companies and the rapid increase of new technologies. Farmers being the backbone to the American agriculture and having it fail because of companies, shows just how deep of a hole the Stock market had fallen in.
In Raymond Carver’s memoir there was income inequality that can be relevant to today. For example, in Caver’s memoir, he stated “He had a job and a family. These were his salad days” (Raymond: 7 paragraph, last two lines). He meant that they were struggling economically because they only had enough money to buy a head of lettuce. During 1933, the average family income dropped to $1,500, less than 1929 which was $2,300 and many families lost their savings as a lot of banks collapsed (Bryson).
People stopped using banks. Millions of people lost all their savings when many banks ran out of funds and closed. Your father and mother are among several million persons who have lost their jobs. Your family has no money to buy food because the banks. People began losing money, and were forced to sell their stocks at much lower prices.
The Great Depression was one of the worst Economic Failures in United States History. In 1929 the Unemployment went to it’s lowest point before the Wall Street crash. On October 28 1929 the Stock market Crashed resulted in a total of $30 Billion Dollars with 14 Billion being lost on October alone causing many of the businesses to go Bankrupt or lead to a downsize of their company 's . By 1930 Unemployment reached 8.9% average for the year causing many people to stealing or starving to death. In the June 17, 1930 The Smoot-Hawley Tariff was passed to attempting to protect American Businesses and Manufacturing from Foreign competition.
It will give me a great head start, financially. I have always been curious if scholarships would be enough help to pay for my education. I said to myself, “Get good grades to get scholarships and it will not be as hard because I will have the financial help I need. There will not be a reason to say I cannot do it because I know how hard it is to get the financial help for college.” I strive to be a student who tries hard to learn and obtain as much as possible, this student is who I will be because of this amazing scholarship I have been awarded with. I would like to convey my sincerest appreciation for my Susan Murray Merit scholarship.
This was a major stock market crash that many people got caught in. Banks were a reason that this became such a major issue, they got caught up in borrowed in stocks and money lost and went bankrupt. Failing crops in the midwest because of drought One out of every 4 people were homeless and that only begins to describe how bad this time period became for Americans. People were struggling to make ends meet and not being able to find a decent job didn’t help. Companies started laying big amounts of people off so they could make ends meet themselves.
A society where if you are born poor more than likely you'll be poor. The obstacles and struggles that people face is what test people. The farmers and Joads have been affected by the recent drought, which has caused them to not bring in any money. The bank and the landowners have been kicking tenants out of their land. The economic depression affected families who were not rich.Banks greed and guilt is what started this it drove lots of families to get up and leave to find work.