Great Depression
*noun*; global economic collapse; in the USA, this began in 1929 and persisted to 1939; most other industrialized countries emerged from the Depression earlier. During the Great Depression, unemployment reached over 25% in the USA, and those who had jobs suffered severe wage cuts. The index of industrial output fell over 53% from its high in July '29, while trade and capital markets plummeted to mere fractions of their former levels. *What Happened* _____________________________________ Many people imagine that the Stock Market Crash (Oct '29) and the Great Depression are the same thing. However, it took another three years for employment, bank failures, and declining industrial output to run its course. In 1929 the USA had 25,000 banks. By 1933, 10,000 had either failed or been merged with another to avoid failure. At this time there was no FDIC, so depositors mostly lost their money. Another phenomenon was plunging prices: the consumer price index fell 25% during the first four years. For businesses, this was a disaster, and forced them to lay off millions. The Great Depression made farms in much of the Southwest unviable; ruined farmers fled to California or Washington, and their abandoned farms succumbed to the Dust Bowl. This was the single largest ecological disaster in recorded history. *How It Happened* _____________________________________ There are basically three main explanations for the Great Depression. 1. During the 1920's, there was a huge and growing disparity between rich and poor. The incomes of the great majority rose much more slowly than productivity, but this was masked by increased borrowing. People were able to borrow because the market value of their assets was larger than what they owed; but when a rash of defaults occurred, then the market value of assets plummeted, and people owed more than their assets were worth. Businesses had to lay off workers, which further reduced aggregate demand. 2. The Great Depression began as another minor downturn, but was made much worse by the failure of the Federal Reserve to respond adequately (see Milton Friedman & Anna Schwartz). While the Fed reduced interest rates, prices fell even faster, so real interest rates soared. This made a quick recovery impossible. 3. The financial markets (combined with Fed supervision) distributed capital badly; for example, speculative ventures in growing wheat in the Great American Desert, real estate in Florida, and so on. When this arrangement of productive resources failed, it constituted an extremely large technology shock. Subsequent policy intervention tended to withhold capital and labor from the most productive enterprises, making the depression deeper. (Explanation 3 is the New Classical economics explanation; see Harold Cole & Lee Ohanian.) *Roosevelt Administration* _____________________________________ Franklin D. Roosevelt was elected by a landslide in 1932, and inaugurated 4 March 1933. The White House immediately used emergency powers to close, restructure, and re-open the nation's banks. During the first 100 days of the FDR administration, Congress passed the New Deal which greatly eased the impact of the Depression on the hardest hit. The New Deal did not significantly hasten the end of the Great Depression, because it was too small to provide a meaningful fiscal stimulus. However, it did introduce many important programs to help those affected by poverty. The Depression had ended in most of the world by 1937; the US was mostly recovered by 1939, when World War 2 broke out.
The Urban Dictionary Mug
Gay Label Adore this. Ordered for my husband, with the second definition on the back, about the gay filmmaker. Makes a nice discussion starter.
Best mug i have ever purchased! Subscribe
I got mugged A man mugged me and then said I had da big gaye
Caring about humanity Those are some pretty bold claims about a mug God. Given your conviction though and the importance second chances (my understanding is that blaspheme can only be committed against God and not a man...don't conflate the two), I'm thinking I'd like to buy one. It's nice to think a pretty simple mug can save a little humanity. I'm just wondering though...if you've ordered lots of mugs (and I reckon you might of) and you've only just seen this one mug...how do you know its going to be a mug that can replace the holy grail? Maybe the mug is really just a simple mug looking for somebody to use it.
the only reason why i care about humanity this mug is the reason why i believe humanity deserves a second chance, even after they blaspheme my name. this mug is the greatest thing i've ever seen and i have ordered many of them. this mug replaces the holy grail. the bible should've told about the wonderful deeds of the mug and how it saved humanity from my wrath. alas, whilst the laws keep me from tampering with human minds and altering holy objects like the bible, i can only pass on my message: "spread the news and buy this mug!"
A mug for your boyfriend Paul????? My boyfriend is not called Paul. I don't even have a boyfriend
ariana grande mug omg this slays mah life
Great mug... finally got my ""your mom gay lol" mug, I'm so happy
with this we regain gods trust This mug changes my views of humanity. I think we may have a chance of not going extinct. Everyone should own this fantastic mug. Oh it's also has a nice handle.
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Perfect Mug My CPacket mug arrived perfectly with the definition of that skid
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Deathless but probably comatose verse This cup is a beautiful mug From which I am happy to chug while engaging in jomo (the obverse of fomo), and pulling the ol' cyber plug.
It understands me. this mug has treated me better than any girl i've ever dated, and every bro i've chilled in the same bed with. we've been though thick and thin, but mostly thicc. i used to be depressed, but now this mug holds my existential fears so i dont need to carry them with me. i even wrote a song about my mug: mary had a little mug, e-i-e-i-o how i wonder what you are, floppy dongs near and far, cherri had a real thicc mug, e-i-e-i-despaci-to
Sickm8 it was blooming gr8 for me GF. She bloody loved it. Onya!!!! ;)
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I can't stop putting weird things on the cup I love this website 😆
My nut hurts my nut hurts help
Why?! I can't stop doing lewd things to this mug, it keeps on telling me to stop but I respond with hitting it. PLEASE HELP ME! ðŸ˜ðŸ˜
cure my depression really good i love it. also my dog cant stop doing things to it.
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