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Post by valpomike on Jan 24, 2008 7:09:17 GMT -7
To all,
The market has started going back up, and will keep going. Good news, no one wants to hear, most off, the Bush bashers.
Michael Dabrowski
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Post by pieter on Jan 24, 2008 8:39:05 GMT -7
Pieter, You posted interesting things on the US stock market crash of 1929. Parts I have read before, parts probably forgotten as well. What do you learn in European school about the Great Depression? Was it sparked by the US crisis or do they describe a number of other mechanisms in Europe as well? Do they even say it was based on primary causes outside the US? In reading our US history, it is of course, US centered, and I am wondering what the European perspective may be. This is a bit like asking Leslie to describe reasons for the US war of independence - I am looking for differences and similarities in perspective. Thanks in advance. Kai PS. I share your concern. Perhaps it was before your time, but Reagan's wild spending program had me wondering if we or the USSR would collapse first. Happily it was the USSR! Kai, At highschool I learned in history class about The Great Depression that it began with the stock market crash on October 29, 1929, known as Black Tuesday. That it had devastating effects in both the industrialized countries. and that it was a mix of a periodical climate change. International trade declined sharply, as did personal incomes, tax revenues, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Unemployment, recession, inflation, extreme poverty in the USA and Europe. The Great Depression was called the Crisis Years in the Netherlands in the thirtees. Cities all around the world were hit hard, especially those dependent on heavy industry. The destruction of agricultural farmlands by the drought was terrible in the American Mid-west and South. We learned that large colognes.Farming and rural areas suffered as crop prices fell by 40 to 60 percent. We saw the photographs of great American photographers of the suffering of the " Poor whites" through the images of Dorothea Lange and Walker Evans We learnt about the Keynessian New Deal policy of the Roosevelt government and about the New Deal's historical significance, its ideological identity, and its political, social, and economic consequences. We learnt an economical less than in times of economical implosion the government can pump money inot the economy, by generating an income for it's citizens via giving people money via the the National Recovery Administration (NRA) work projects. The people spend their " new money" in the economy and via their consuming the economy recovered. It was a very liberal American Macro economical policy. The crisis started in America, because the American stock market crash, in the same time Europe had the heritage of the first world war, the social-economical sadness of the thirtees with the extreme poverty and huge unemployment in Germany and Austria, the political and economical instability of Central-Europe, the disaster of Sovjet Communism (the Stalinism of forst collectivisation; kolkhozes and state farms sovkhozes), and fascist dictatorship in Italy, Germany and Austria ( en.wikipedia.org/wiki/Austrofascism ). The already weak and recovering European economies dropped down again, and fall into Depression too. There was not transatlantic trade and basic industries (steal, coals and minerals) suffered severe blows. And as a result of that the other industries suffered a downfall of their production and growth too. Pieter Links: en.wikipedia.org/wiki/Florence_Owens_Thompsonen.wikipedia.org/wiki/Image:Allie_Mae_Burroughs_print.jpgNational Recovery Administration
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