When FSLIC started to bail out in 1983, it costs FSLIC $20 billion but it had only $6 billion in reserve at that time which led to its bankruptcy. Then in 1985, oil prices fell and some people who invested their money in thrifts defaulted because it made their investments unprofitable. Between 1982 and 1985, the thrift industry expanded as the funds were flowing in this industry due to the shift to the financial market. During this time there was a decline in mortgage lending of savings and loans institutions from 78% to
Andrew Carnegie’s daily wage was about $92,000, meaning he could’ve paid his workers more but refuse to. Furthermore, in Document D, during 1875 & 1876, Andrew Carnegie was profiting $10 for one ton of steel rails and ripping people’s money off when he could’ve just profited by $3 per ton of steel rails like he did in
5. Unemployment This leads me to my next point – the high unemployment rate among Roma. With 40% of Romani children never attending or not finishing elementary school and 50% having acquired only primary education , the chances of finding a good, stable job are very slim. They mostly find work in the agriculture, manufacturing, construction or the informal sector. In 2011 only 19.35% from all the Roma were employed, compared to nearly 80% in the 80s .
The economic elements of 1861-1865 were very different for the North and the South. The North was doing very well, compared to the South. In the North they had to lay-off many workers and close down the textile industries because of the scarcity of cotton. However, the “arms, metalworking, boot making, and shipbuilding industries” were booming in the North (Keene, 391). The wages of the workers rose by about 40 percent, but the prices of goods rose at the same pace as the inflation rate averaged about 15 percent annually (Keene, 391).
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. The overproduction of farm products, due to improved technology, and false prosperity caused deflation, which was a reason for the Great Depression.
During the “Dirty Thirties,” the Dust Bowl took place and affected farmers across the Midwest, resulting in less money and the collapse of business; however, the president enacted the New Deal which solved a lot of the problems. The market crash caused businesses to close and as a result, people wanted to work for any wage. The 1929 market crash caused the Great Depression and closed factories (Worster 5). When
The ascension of the American economy has been imminent ever since the conclusion of the Spanish-American War. The Spanish-American War asserted the United States as a world superpower as the U.S., not only beat the Spanish, but also acquired many of her territories to kick off this new “American Empire”. The economic upsurge of the roaring twenties echoed this sentiment. After a major victory in the Great War, the United States directly transitioned into a phase of economic prosperity which appeared to be evident in all facets of American life. During the roaring twenties, the United States established themselves as the world world capital of Industry, Technology, and Culture.
Many laborers working under these company suffered due to the reduction of “the price of every labor connected with trade” (Doc 3). While these companies became wealthier, workers became poorer. For example, the laborers working in the Ohio railroad company barred train’s passage to rebel against their third pay cut. All forms of strikes and boycott emerged in the nation since no minimum wage was set. The workers risked their jobs to
The main accounts consist of unemployment and low income. Many economists point the finger at “the financial disaster of 2008 that weakened the economy” (Helping the homeless). The Great Recession, as many refer it as, is tied to the housing collapse, making housing costs go up the roof. Another explanation of homelessness is war. War veterans make up 23 percent of the homeless population, it is due to the lack of aid programs, and program funding that leaves them without a shelter.
Reading magazines about celebrities, and almost all the pictures in them were taken by the paparazzi. The documentary also reported what some consumers think, one girl said: “You know you don’t have to look, but you’re just curious” (2012). If we take all these examples and put them together in one frame we can see exactly how the author managed to reflect to his audience his argument. He showed us how the celebrities suffer from the paparazzi, and how the paparazzi do that for a living, because they can easily sell their work with huge amounts of money just because the consumers are always there waiting for the latest scoops and gossips about celebrities. I think that Kevin Mazur did a great job in presenting his argument and supporting it; however, I believe he could have done better if he added the opinions of sociology or psychology experts on the effects of the consumers on the media, to show how the consumer has a big influence on the media as a whole, and how his or her current behavior and critical attitude is affecting it
It was named after Constantine Buckley George Kilgore. Kilgore started out as nothing, in 1885 it had a small population of 250. Through the years it was slowly getting larger and larger and there was a population of 1,000. But then in the late 1920s to the early 1930s, the great depression happened, which triggered cotton ( the main resource that Kilgore depended on) to decline. Causing the city’s population to decrease quickly, and as soon as 1930 the population went below 500.
They spent their cash on automobiles, clothes, new inventions, and many other lavish items that made their lives easier. They also loved spending money on more entertaining things that would occupy their time. To occupy their time they were engaged for many hours going to the movies, nightclubs, and to many different parties. More often than not, people chose to spend their extra dollars on illegal commodities, such as alcohol. Other images are of Americans drinking bathtub gin or hanging out at one of the many speakeasies that sprang up in the United States during what was known as Prohibition (Purdy), a law passed banning the use of alcohol.
During the Gilded Age many workers were forced to work long hours for little pay while the businessmen make way more in a day than what they would make in a year. Child labor during the Gilded Age was 5% of the workforce and working conditions in factories and mines were terrible. During the Gilded Age anyone became if they tried, also work in factories and mines was a more reliable source of income than work on farmers. Businessmen gave people a more reliable source of income, and that makes them Captains of