1929 The Stock Market Crash & Great Depression; Stiglitz, Zinn

[appalachiablue]

Last edited Fri May 22, 2020, 03:08 PM - Edit history (3)

Part 1. 1929 The Great Depression (2013). Intro. US stock market, in depth.**At 32 mins: The American middle class was impacted the most by the financial & economic crisis, the US lacked a social safety net, private charities were overwhelmed; President Hoover's failures included indifference, lack of an effective stimulus & repatriation of US capital loans to Germany, a huge mistake with fatal implications, the rise of Hitler to power & Nazi Germany.

The crisis spreads to a post- World War I Germany still struggling from harsh terms of the Versailles Treaty which called for heavy reparations; the German economy was destabilized, large numbers of bread lines, bankruptcies; in the US people participated in dance marathons hoping to win money; evictions occur throughout the US, 'Hoovervilles,' tent cities of homeless Americans grow across the country. (Full, 52 mins).

- Part 2. 1929 The Great Depression. Homeless 'Hoovervilles,' desperate Midwest farmers search for work, 'The Grapes of Wrath,' Steinbeck; US steel operates at 10% capacity, 25% unemployment, picket lines, strikes, Detroit riots after Ford laid off 3/4 workers. US economic system exploded, 1929-1932; turmoil, anti- Hoover views, Bonus Army WWI vets march on Wash. D.C. In Germany: Hitler gets huge jump in votes in 1932, 33% from under 2% in 1929, ruined middle class votes for Hitler; terror starts in 1932, need for scapegoats, Communists, Jews; 'global economic collapse is responsible for the Rise of Hitler,' Steve Fraser, historian.

US growth of fascist & Nazi movements; Henry Ford, paper 'The International Jew,' rise of anti Semitism, xenophobia, racism; democracy in America is threatened in the 1930s. Militants in socialist & communist parties influence labor movement; NY Gov. Franklin Roosevelt tries to implement state relief policies; 1932 FDR selected Dem. presidential candidate, FDR wins election Nov. 1932, inaugurated 32nd US president March 4, 1933: 'The only thing we have to fear is fear itself.'

[pecosbob]

1. Thumbs up for anything with Howard Zinn

His work continues through his foundation.

[appalachiablue]

2. Good to see Howard Zinn featured in this 2013

project, what a gift to us he was for many years.

[2naSalit]

3. Food for thought. ...nt