When FDR took office, the depression was well in effect. He took some major steps towards digging the country out of its hole. While the crashes were major and most people saw this as a bad idea. Spending money was the best option. FDR was the longest serving american president in history as he served until his death towards the end of WWII. He introduces work projects in which he hires lots of people. These projects have to goals, to help the people get jobs and help the country after they are completed.Projects such as Hoover Dam, where after the workers were done, the country uses it for energy. The government had to invest into the economy to get it boosted up and it worked. While it did not send america back to the top, the beginning of WWII did as they were producing for other countries. The moment the US joined the war, there was a massive decrease in unemployment. He also talk to the people of America over the radio and outlined to them what the government was doing to help them, this gained him a lot of popularity. FDR's new deal did in 100 days more than other presidents could not in their whole term.
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As the economy was booming in the US consumerism was rising. With massive amounts of people buying, there needed to be massive amounts of things to sell. This cycle would work if other people didn't get in the game, and when they did there was more production than consumption. This created a downward spiral that had more stuff being made than was sold so the prices went down. And as they began to go out of business this affected the people who were buying on margin in the stock market. They had debt and they didn't make any money and when everything crashed on black tuesday the combination of overproduction and buying on margin. When we played the stock market game in class, it felt very good for all the products to be skyrocketing in prices. When the market crashed, the products were thru the floor. and their prices were below the previous base and then some. This massive change of high economy for everyone down to nothing for anybody most definitely affected everybody, even some of the richest people in the 30s were brought down a significant amount, this crash affected everyone especially the common folk. The main cause was greed, after having so much, too many people wanted too much too fast and that brought everyone down.
As the war ended, the 20s rolled around in the US. With the end of the war, the US was in a super power position where they were one of the most powerful if not the most powerful country in the world. With that also came prosperity, with all the efforts that were put into the war, people didn't focus on the economy back home and by the time the soldiers returned they got paid. With this all new wealth the stoic market got hot for people to invest in and make more money, and as they made more money they also spent more consequently deeding to more jobs. The economy was at an all time high and the government wanted to stay out of other nation's issues. They attempted to stay away from their issues by suggesting lots of plans to help other nations that generally just got denied. The US attempted to isolate themselves from other countries and keep their economy flowing locally to make it better for the people of the country. The politicians while weren't doing anything special, they served in peace time and a flourishing economy. One of their main things they did to help the US was localize the market and try to help other countries to intern make the US money.
Cinderella Man is a movie set in the 20s and 30s in the US after the stock market crash. Following the story of James J. Braddock in his boxing career and his personal life. As The Great Depression sets in the US, people's lifestyles and lives plummet with the stock market crash. James struggles to find job to get some money to keep his family afloat. He embarks on a journey to slowly re-instate his boxing career and make money for him and his family doing so. This film also captures the life in America in the 30s. How much the economic crash actually affected people and their families. Jobs being a privilege and food being scarce, this was one of the darkest times in America, but James J. Braddock makes the best out of his situation. |
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