Sunday, March 21, 2010

The Causes of The Great Depression

Over production in the 1920s:
The Roaring twenties were a phosphorus time period for Canadians. Since the end of WWI, innovation and entrepreneurship lead to making the country and the continent wealthier. The best example is The Model. Over thousands of Model Ts were produced and Canada, and even more in the United States. With lower prices, every average family owned a Model T. When the depression occurred, nobody could afford to buy cars anymore. As a result, cars were piled up stocks. Works were laid out from factories – adding more people to unemployed list. This scenario didn’t limit to cars. It applied almost every staple made in North America at the time.

American Recovery and Reinvestment Plan, aka Obama's Baby Stimulus Plan:
Ever since George W Bush, a rattlesnake from the state of Texas trained by Bush the Sr, left the office in 2009, Americans were depressed because during his presidency, everybody enjoyed a peaceful and a prosperous time period. CM Barack Obama (CM stands for Chicago Made), Bush’s predecessor, promised to change everything. As Obama promised he changed, and still changing, everything Bush did. Part of his changes included American Recovery and Reinvestment Plan. This added fewer jobs and more debt. The hiring rate and the debt rate were far apart, that every person hired, either ten people were fired or $1000 added to the national debt. As a consequence, the changes Obama made also played a major role in making a depression!

Greater Bonds with The US:
The Europe and Canada were closely tied with the United States when it comes to economy. Millions of goods were import and exported in the 1920s. When New York Stock Market collapsed in the 1929, stock holder lost money and killed themselves. Now, killing people may be a good thing, because there is less competition, losing money wasn’t. US companies were forced to shutdown. Unemployment rate dramatically increased. American consumer confident declined, and as a result, Americans didn’t buy. Since nobody could afford to buy anything, importing goods were pointless. This forced Canadian productions, like wheat, lumber, timber, fish, and snow, to stop. Consequently, workers were laid out factories.

To be continued…. keep on keeping on

1 comment:

  1. Ifound him facing away, curled up on his bunk bed, an obsolete symbolof optimism for our familys future growth. I never thought of you like that and certainly notCathline.
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    Ifound him facing away, curled up on his bunk bed, an obsolete symbolof optimism for our familys future growth. I never thought of you like that and certainly notCathline.

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