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Part 1: Post a Response
After the end of World War I, overall economic growth exploded in the US in the early 1920s, but then there was a severe economic breakdown with the Great Depression of 1929-1939.
Choose and discuss (in a full paragraph or two) one of the following two topics related to the 1920s and1930s.
Part 2: Respond to a Peer
1) I believe that the New Deal and or the Federal response to the great depression helped Americans in some areas. The New Deal did not end the great depression, but it did bring the federal government closer to the ordinary citizens, than ever before. It reshaped national politics and culture with a host of relief, recovery, and reform initiatives. Even though the great depression did not end until 1938, the programs such as the (1) Labor Movement, which fostered wage growth and sustained purchasing power of millions of Americans, and protection of workers rights as well as their wages,(2) and the establishment of the Social Security Act, which provided income for the elderly, disabled and children of poor families, (3) GLASS-STEAGALL Act of 1933 establishing the Federal Deposit Insurance Corporation, which insured savings of Americans in the event of a bank failure, which was common at the time. (4) Works Progress Administration, created in 1935, had a positive impact by employing more than eight million Americans in building projects from bridges and airports parks, and schools. These programs helped the depression but were insufficient because the amount of government funds was not large enough, to bring us out of the depression. There are many views to this history and to add insult to injury in 1937 The Feds raised bank reserve requirements as the President reduced the fiscal stimulus.I hold them both responsible for the delay in the depression being over sooner. Alas it would be entering World War Two, and the need for massive military armor to get millions back to work, so that we could win the war the President did not want to enter.
2) The rationale for my responses is that it has always been evident that politics and large corporations, and the banking system was always looking to keep the rich richer, and the middle-class comfortable, and the poor, poorer. When these big businesses realized that they could make even more money from their workers as consumers, they went for it all, and then someone came up with the idea of Credit. Many loans were taken out, instead of cash flowing. Everyone was a big winner, and the poor American’s yes, they could eat, and live halfway descent, but they had to work, and of course they thought that the new wages were going to help them rise above poverty, and with mass production of automobiles, and other goods and services, America was looking great. Then the banks started to call in their loans, and the loans could not be repaid, all the money was being recycled, to other countries. Everyone was paying on their loans, and then paying America with loans, and we collapsed. I also believe that The NEW DEAL was a great plan that the president came up with in that time, because that plan still exists today, and it is helpful to know that when it was created, that the efforts would last forever, as long as we didn’t or don’t abuse the efforts that were put in place to protect us from another depression. I do also believe that we had come very close to a depression once in my lifetime. How can American sustain herself? and keep us safe? I believe that if and when the government shuts down, its affects everyone economically, globally, culturally, physically, and mentally.
3) I think that America should not borrow money from other countries, and we should not loan out money to other countries, because when we loan money and are ready for it to be repaid, we cant get paid, and then we’ll compromise for something that we think may be more valuable. I do believe that we are over $16.1 trillion and intergovernmental holdings were $5.87 trillion dollars in debt in 2018, and are owed more or a little less than our National debt, i am guessing. I do not know, I’m just grasping at straws right now. However we are supposed to be the richest country in the world, and if thats true, why cant we take better care of home first? Everyday we are raising taxes, we can not afford descent health care, unemployment is not that great, and inflation is on the rise again, people can barely afford to put gas in their cars, because gas prices continue to rise, but we are playing with these foreign country when we should be producing the things we want and need right here in America. It is my prayer that history stays in the past, however we learn from it, and the present, we learn to preserve America.
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