Looking for essays on their loans this meant? We have thousands of essays on this topic and more.
1929 Stock Market Crash
The 1929 Stock Market Crash
In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929) It was anticipated that the increases in earnings and dividends would continue. (1929) The price to earnings ratings rose from 10 to 12 to 20 and higher for the markets favorite stocks. (1929) Observers believed that stock market prices in the first 6 months of 1929 were high, while others saw them to be cheap. (1929) On October 3rd, the Dow Jones Average began to drop, declining through the week of October 14th. (1929)
On the night of Monday, October 21st, 1929, margin calls were heavy and Dutch and German calls came in from overseas to sell overnight for the Tuesday morning opening. (1929) On Tuesday morning, out-of-town banks and corporations sent in $150 million of call loans, and Wall Street was in a panic before the New York Stock Exchange opened. (1929)
On Thursday, October 24th, 1929, people began to sell their stocks as fast as they could. Sell orders flooded the market exchanges. (1929) This day became known as Black Thursday. (Black Thursday) On a normal day, only 750-800 members of the New York Stock Exchange started the exchange. (1929) There were 1100 members on the floor for the morning opening. (1929) Furthermore, the exchange directed all employees to be on the floor since there were numerous margin calls and sell orders placed overnight. Extra telephone staff was also arranged at the members boxes around the floor. (1929) The Dow Jones Average closed at 299 that day. (1929)
On Tuesday, October 29th, 1929, the crash began. (1929) Within the first few hours, the price fell so far as to wipe out all gains that had been made the entire previous year. (1929) This day the Dow Jones Average would close at 230. (1929) Between October 29th, and November 13 over 30 billion dollars disappeared from the American economy. (1929) It took nearly 25 years for many of the stocks to recover. (1929)
By mid November, the value of the New York Stock Exchange listings had dropped over 40%, a loss of $26 billion. (1929-1931) At one point in the crash tickers were 68 minutes behind. (1929-1931) An average of about $50,000,000 a minute was wiped out on the exchange. (1929-1931) A few investors that lost all of their money jumped to their deaths from office buildings. Others gathered in the streets outside the Stock Exchange to learn how much they had lost. (Black Thursday)
There are five proposed reasons as to why the stock market crashed. One of the reasons was that stocks were overpriced and the crash brought the share prices back to a normal level. However, some studies using standard measures of stock value, such as Price to Earning ratios and Price to Dividend ratios, argue that the share prices were not too high. Another reason is that there were massive frauds and illegal activity in the 1920s stock market. However, evidence revealed that there was probably very little actual insider trading or illegal manipulation. (1929)
Margin buying is another reason why people believed that the crash happened. Though it is not the main reason, there was very little margin relative to the value of the market. The new President of the Federal Reserve Board, Adolph Miller, tightened the monetary policy and set out to lower the stock prices since he perceived that speculation led stocks to be overpriced, causing damage to the economy. Also, in the beginning of 1929, the interest rate charged on broker loans rose tremendously. This policy reduced the amount of broker loans that originated from banks and lowered the liquidity of non-financial and other corporations that financed brokers and dealers. Lastly, many public officials commented that the stock price was too high. Herbert Hoover publicly stated that stocks were overvalued and that speculation hurt the economy. Hoovers statement suggested to the public the lengths he was willing to go to control the stock market. These kinds of statements encouraged investors to believe that the market would continue to be strong, which could be one of ... more
Find essay on Their Loans This Meant
Chinese Economic Refrom
Chinese Economic Reform
Two years after the death of Mao Zedong in 1976, it became apparent
to many of China's leaders that economic reform was necessary. During his
tenure as China's premier, Mao had encouraged social movements such as the
Great Leap Forward and the Cultural Revolution which had had as their bases
ideologies such as serving the people and maintaining the class struggle.
By 1978 Chinese leaders were searching for a solution to serious economic
problems produced by Hua Guofeng, the man who had succeeded Mao Zedong as
CCP leader after Mao's death (Shirk 35). Hua had demonstrated a desire to
continue the ideologically based movements of Mao. Unfortunately, these
movements had left China in a state where agriculture was stagnant,
industrial production was low, and the people's living standards had not
increased in twenty years (Nathan 200). This last area was particularly
troubling. While the gross output value of industry and agriculture
increased by 810 percent and national income grew by 420 percent [between
1952 and 1980] ... average individual income increased by only 100 percent
(Ma Hong quoted in Shirk 28). However, attempts at economic reform in
China were introduced not only due to some kind of generosity on the part
of the Chinese Communist Party to increase the populace's living standards.
It had become clear to members of the CCP that economic reform would
fulfill a political purpose as well since the party felt, properly it would
seem, that it had suffered a loss of support. As Susan L. Shirk describes
the situation in The Political Logic of Economic Reform in China,
restoring the CCP's prestige required improving
economic performance and raising living standards.
The traumatic experience of the Cultural Revolution
had eroded popular trust in the moral and political
virtue of the CCP. The party's leaders decided to
shift the base of party legitimacy from virtue to
competence, and to do that they had to demonstrate
that they could deliver the goods.
This movement from virtue to competence seemed to mark a
serious departure from orthodox Chinese political theory. Confucius
himself had posited in the fifth century BCE that those individuals who
best demonstrated what he referred to as moral force should lead the
nation. Using this principle as a guide, China had for centuries attempted
to choose at least its bureaucratic leaders by administering a test to
determine their moral force. After the Communist takeover of the country,
Mao continued this emphasis on moral force by demanding that Chinese
citizens demonstrate what he referred to as correct consciousness. This
correct consciousness could be exhibited, Mao believed, by the way people
lived. Needless to say, that which constituted correct consciousness was
often determined and assessed by Mao. Nevertheless, the ideal of moral
force was still a potent one in China even after the Communist takeover.
It is noteworthy that Shirk feels that the Chinese Communist
Party leaders saw economic reform as a way to regain their and their
party's moral virtue even after Mao's death. Thus, paradoxically, by
demonstrating their expertise in a more practical area of competence, the
leaders of the CCP felt they could demonstrate how they were serving the
people. To be sure, the move toward economic reform came about as a result
of a changed domestic and international environment, which altered the
leadership's perception of the factors that affect China's national
security and social stability (Xu 247). But Shirk feels that, in those
pre-Tienenmen days, such a move came about also as a result of an attempt
by CCP leaders to demonstrate, in a more practical and thus less obviously
ideological manner than Mao had done, their moral force.
This is not to say that the idea of economic reform was
embraced enthusiastically by all members of the leadership of the Chinese
Communist Party in 1978. To a great extent, the issue of economic reform
became politicized as the issue was used as a means by Deng Xiaoping to
attain the leadership of the Chinese Communist Party. Mao's successor, Hua
Guofeng, had tried to prove himself a worthy successor to Mao by draping
himself in the mantle of Maoist tradition. His approach to economic
development was orthodox Maoism with an up-to-date, international twist
(Shirk 35). This approach was tied heavily to the development of China's
oil reserves. [W]hen [in 1978] estimates of the oil reserves were revised
downward[,] commitments to import plants and expand heavy industry could
not be sustained (Shirk 35). Deng took advantage of this economic crisis
to discredit Hua and aim for leadership of the party. Reform policies
became Deng's platform against Hua for post-Mao leadership ... more
What long should essays be?
Generally, the length requirements are indicated in your assignment sheet. It can be words, paragraphs, or pages given as a range (300–500 words) or a particular number (5 pages). If you are not sure about your essay’s length, the number-one tip is to clarify it with your tutor. Also, if you’re not sure how to write an essay, we have a detailed guide on that topic, just follow the link.
What makes an effective essay?
An essay should have a single clear central idea. Each paragraph should have a clear main point or topic sentence. ... An essay or paper should be organized logically, flow smoothly, and "stick" together. In other words, everything in the writing should make sense to a reader.
What should be included on an essay?
A basic essay consists of three main parts: introduction, body, and conclusion. Following this format will help you write and organize an essay. However, flexibility is important. While keeping this basic essay format in mind, let the topic and specific assignment guide the writing and organization.
What They say About Free Essay
I also want to thank http://freeessay.com , pantip and wikipedia for make it happens. #storytelling
T: Cubas Politics
Cuba`s Politics While the isle of Cuba was initially discovered on October 27, 1492 during one of Columbus first voyages, it wasnt actually claimed by Spain until the sixteenth century. However, its tumultuous beginnings as a Spanish sugar colony provides an insightful backdrop into the very essence of the countrys political and economic unrest. From its early revolutionary days to the insurrectional challenge of the Marxist-Leninist theories emerged the totalitarian regime under Fidel Cast...
H: 1929 Stock Market Crash
1929 Stock Market Crash The 1929 Stock Market Crash In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929) It was anticipated that the increases in earnings and dividends would continue. (1929) The price to earnings ratings rose from 10 to 12 to 20 and higher for the markets favorite stocks. (1929) Observers believed that stock market prices in the first 6 months of 1929 were hi...
E: Chinese Economic Refrom
Chinese Economic Refrom Chinese Economic Reform Two years after the death of Mao Zedong in 1976, it became apparent to many of China\'s leaders that economic reform was necessary. During his tenure as China\'s premier, Mao had encouraged social movements such as the Great Leap Forward and the Cultural Revolution which had had as their bases ideologies such as serving the people and maintaining the class struggle. By 1978 Chinese leaders were searching for a solution to serious economic problems ...
none4 LABOR UNION, LAUNCHED IN 1866, AND THE KNIGHTS OF LABOR, WHICH REACHED ITS ZENITH IN THE MID-1880S. ON THEIR FACE, THESE REFORM MOVEMENTS MIGHT HAVE SEEMED AT ODDS WITH TRADE UNIONISM, AIMING AS THEY DID AT THE COOPERATIVE COMMONWEALTH RATHER THAN A HIGHER WAGE, APPEALING BROADLY TO ALL PRODUCERS RATHER THAN STRICTLY TO WAGEWORKERS, AND ESCHEWING THE TRADE UNION RELIANCE ON THE STRIKE AND BOYCOTT. BUT CONTEMPORARIES SAW NO CONTRADICTION: TRADE UNIONISM TENDED TO THE WORKERS\'\' IMMEDIATE...
R: TransContinental Railroad
TransContinental Railroad If any act symbolized the taming of the Northwest frontier, it was the driving of the final spike to complete the nations first transcontinental railroad.1 The first railroad west of the Mississippi River was opened on December 23, 1852. Five miles long, the track ran from St. Louis to Cheltanham, Missouri. Twenty-five years prior, there were no railroads in the United States; twenty-five years later, railroads joined the east and west coasts from New York to San Fra...
: The introduction of the discussion will focus on t
The introduction of the discussion will focus on the origins of the Great Depression and the escalating events that led to it. This will provide adequate foundations to bring up questions and attempt to answer them in an objective fashion as to why and how the Depression affected different industrialized countries in different ways. The core of the debate will consist of detailed comparable analyses of the consequences of the Depression with an emphasis on the economic aspects. The conclusion wi...
L: Is gambling a feasible source of funds for the gov
Is gambling a feasible source of funds for the government Over the past twenty or so years, great wealth and improved economic and social conditions have been promised to the communities that have embraced legalized gambling. However, with twenty years of experience it is time to look back and analyze whether this is true or not. It could easily be said that gambling is as American as apple pie. Gambling has shaped American history since its beginning. Lotteries were used by The First Continenta...
O: PART ONE CONTENTS --------------------3
PART ONE CONTENTS --------------------3 SELFREALISATION AND DIRECTION FOR THE ADOLESCENT PART TWO CONTENTS ---------------------59 MANIFESTATIONS OF AWARENESS PART THREE CONTENTS -----------------104 PHILOSOPHICAL CONTENTS PART ONE. BOLD = MAIN TITLES. REGULAR = SUB TITLES. ----------------------------------------------------------------PAGE FORWARD -----------------------------------------------------4 INTELLECTUALITY -----------------------------------------8 DEDICATION -----------------------...
A: 1929 Stock Market Crash
Word Count: 1375 The 1929 Stock Market Crash In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929) It was anticipated that the increases in earnings and dividends would continue. (1929) The price to earnings ratings rose from 10 to 12 to 20 and higher for the markets favorite stocks. (1929) Observers believed that stock market prices in the first 6 months of 1929 were high, while other...
FDR: FDR's Influence as president Some have called him the best president yet. Others have even claimed that he was the world's most influential and successful leader of the twentieth century. Those claims can be backed up by the overwhelming support that he received from his citizens throughout his four terms in office. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- * Copyright DueNow.com Inc. * [Category]: History [Paper Title]: FDR [Text]: FDR's Influence as pre...
S: FEDERAL RESERVE
FEDERAL RESERVE The United States took over a hundred and twenty years to prefect a working banking system that could adequately adjusts to the constantly changing economy. The Federal Reserve System most important purpose is to preserve a stable economy in the US. The focus on monetary policy is to protect the purchasing power of the dollar and to encourage conditions that promote sustainable economic growth and high employment. The Federal Reserve System is a network of committees working toge...
: Chinese Economic Reform
Chinese Economic Reform Two years after the death of Mao Zedong in 1976, it became apparent to many of Chinas leaders that economic reform was necessary. During his tenure as Chinas premier, Mao had encouraged social movements such as the Great Leap Forward and the Cultural Revolution which had had as their bases ideologies such as serving the people and maintaining the class struggle. By 1978 Chinese leaders were searching for a solution to serious economic problems produced by Hua Guofeng, ...
T: The IMF and the Bretton Woods Agreements
The IMF and the Bretton Woods Agreements The international financial system has been radically altered since the worldwide depression of the late 1920s and early 1930s. This change is due in large part to the inception of the International Monetary Fund (IMF) and its subsequent control over the international financial system. In this paper I will examine the extensive role of the Bretton Woods system of exchange rates and the gold standard. Additionally, I will examine the role that the IMF ha...
H: Politic Science
Politic Science Thursday October 24 1929 is a Day that was later known as Black Thursday. Black Thursday was the day a small crash occurred at the New York stock exchange. However Black Thursday Would turn out to be nothing compared to what awaited America and its economy on the following Tuesday. America was about to enter her darkest days the Great Depression. Sena Peterson my great grandmother was just an eighteen-year-old young lady living on her fathers corn farm in Iowa. Far away fro...
I: A Basic Analysis Of The Balkan Economy In Relation
A Basic Analysis Of The Balkan Economy In Relation To The E.U. I think that it is right to begin with the Theory of consumer choice. The above consumer has expressed his preference of choice. He has a taste for seafood which he prefers above all other types of food. This does not mean that he only eats seafood, but in line with the last two elements of the theory of consumer choice, he has shown his preference for taste and on that assumption, will do the best that he can for himself to consume ...
S: Theory of Consumer Choice
Theory of Consumer Choice I think that it is right to begin with the Theory of consumer choice. The above consumer has expressed his preference of choice. He has a taste for seafood which he prefers above all other types of food. This does not mean that he only eats seafood, but in line with the last two elements of the theory of consumer choice, he has shown his preference for taste and on that assumption, will do the best that he can for himself to consume as much seafood as he can. The elemen...
: Fall of teh House of Romanov
Fall of teh House of Romanov The Romanov family, a great and prestigious lineage, ruled over Russia from 1613 to 1917. Although it had, in the past, overcome all types of dilemmas, the Romanov family was to fall, at last, in 1917 with the resignation of Tsar Nicholas the Second. After the Russo-Japanese war of 1905, the Russian army was severely weakened and, as a result, the Russian government was forced to endure the restraints of a cautious foreign policy. As it was necessary for the Russian ...
M: FDRs influence as president
FDRs influence as president Franklin Delano Roosevelts Influence as president Some have called him the best president yet. Others have even claimed that he was the world\'s most influential and successful leader of the twentieth century. Those claims can be backed up by the overwhelming support that he received from his citizens throughout his four terms in office. President Franklin Delano Roosevelt began a new era in American history by ending the Great Depression that the country had fallen ...
E: Global Depression
Global Depression The crumbling of Western culture after World War I mirrored how the global economy would as well. After the War came what ultimately was the global state of depression. This was in no means meant to describe the world emotionally, but most likely it did. People were jobless, and some penniless. There were dissatisfied nations dealing with terms of treaties with which they had no agreement. The main reason for the spread of the depression was that of the lack of self-reliance th...
A: Farming In Denmark
Farming In Denmark Denmark is located in the Central Northern part of Europe. It is part of the Scandinavian countries, thus it has a relatively cold weather all year long. 75% of Denmarks land is used for farming. Because of its export of agricultural and industrial produce, it enjoys one of the highest standard of living in the world. This case study is meant to study the farming in Denmark. Types of Farming: Denmark is divided into 3 areas: Jutland, Fyn, and Zealand. Farming is found in all...
N: South Korea
South Korea History Koreas original name, Choson, Meant land of the morning calm. The countrys history has been shaped by frequent invasions from its neighbors. Korean history is divided into three main periods: the silla (668-935), Koryo (935-1392), and Yi (1392-1910) dynasties. The name Korea is derived from the middle dynasty of Koryo. Foreign influence-direct and indirect-occurred throughout these dynasties. All of Koreas foreign overlords-Mongolian, Chinese, and Japanese instituted a...
T: How Did Hitler Come to Power in 1933?
How Did Hitler Come to Power in 1933? Adolf Hitler was a very lucky man throughout his life It was November 1918 and Germany signed the armistice ending the First World War. Private 1st Class A. Hitler was in an army hospital being treated for a shrapnel wound to the head when he heard the news. Like many other Germans, he was shocked and angry about the surrender as the fighting never reached Germany. Soon after the Treaty of Versailles was signed which detailed the handover of German land and...
Harley EXECUTIVE SUMMARY This report examines the Harley-Davidson phenomenon. From near bankruptcy to double-digit growth every year, Harley-Davidson has something working for them. That something is called strategic planning and development. With the growing global economy, companies are looking for ways to improve their market share. Many excellent firms have learned how to beat their competitors through the implementation of new management, marketing, and/or manufacturing techniques. Harley...
Weimar Republic A path to a dead end: the Weimar Republics inevitable failure and the rise of Hitler to power. There were various factors that contributed to the failure of the Weimar Republic of Germany and the ascent of Hitlers National Socialist German Workers Party into power on January 30, 1933. Various conflicting problems were concurrent with the eventuation of the Republic that, from the outset, its first governing body the socialist party (SPD) was forced to contend with. These includ...
Lyndon Johnsons Effect Of American Foriegn Policy
Lyndon Johnsons Effect Of American Foriegn Policy Towards Isreal The following is a discussion of American foreign policy towards Israel, and the Middle East. In it I will show that Lyndon Johnson changed the regional position and opinion of the United Stated by adapting a pro Israeli stance, categorized by excusing many unadvised forceful actions taken by Israel. It will be shown how Johnsons response to the outbreak of the 1967 War was the major factor in the change. These changes took the fi...