Great Depression/Great Recession Henry - Byshera
Welcome to the Great Depression. Home of failed banking, A Giant Dust Bowl and a plummeting stock market.
In this picture: All three of those major events were represented. You can see empty bank vaults, A giant bowl of dust, and a stock market crumbling.
These are some of the main causes of the Great Depression.
Welcome to the Great Recession. Where bankers, who are blinded by greed, make poor decisions and eventually affected all of the world.
In this picture: You can see an upside-down House which represents the the decreased cost in Houses. Then there is the bomb between the C.D.O's which show the risk and eventual explosion (the bad one) of the housing market.
The Great Depression - Side Effects will include:
Decrease in consumer confidence.
Disappearance of the middle class.
Massive increase in homeless people.
Massive increase in unemployment rate.
The Great Recession - Side Effects will include:
Decrease in consumer confidence.
Decrease in house costs.
Increase in unemployment rate.
Increase in uncomfortable way of life.
F.D.R. 's New Deal.
In this picture:
You can see two houses that are split by a river or moving body of water. On the right it's city that's represented by a house. On the left is a house that represents the countless amounts of homes without electricity in more rural area. This moving body of water is generating electricity. Notice how The houses are clean and are easy on the eyes. In F.D.R's new deal, he focuses on making the way of life better for everyone in the United States. Painting Murals, providing AID to states and creating jobs.
Obama's Stimulus Plan / Recovery Act
In this picture:
You can see the word "Tax" being cut. This represents what the Stimulus Package Did. It cut a lot of taxes for the middle class. The Words unemployment benefit speaks for itself. Then there was the educational aspect of the package. It provided a lot of school districts around the country money to help keep the educational program strong. This is represented by the "modern high school" in the very center of the paper. It looks as though it's being constructed.
The Verdict:
The New Deal came in three parts:
Relief, Recovery, Reform.
Relief comes in the form of short term acts that, more of less, poured water on the burn area. It alleviated the suffering of most people in the country. Things like the Tennessee Water Act fall under this category.
Recovery comes in the form of long term acts that, more of less, put a bandaid on the burn area. IT protected and strengthened the economy. Things like the National Industrial Recovery Act fall under this category.
Reform comes in the form of prevention acts, that more or less, put a huge bubble on the whole person. It protected the economy from future great depressions. The emergency banking act falls under this category.
Obama's Stimulus Plan:
The primary object of this plan was to save and create jobs immediately. This protected businesses.
The secondary object of this plan was to provide temporary relief to those who were hit the hardest by the recession, then invest in things like infrastructure, education, health, clean energy, federal tax incentives and unemployment benefits.
The Contrast/Comparison
The New Deal was huge compared to the stimulus. It covered more areas and focused on better the way of life for citizens in America. The stimulus only focused on protecting and creating jobs. Then again, there's only so much you can do when reforms from 60+ years ago still hold strong. The New Deal also had a more direct effect on the economy. Change was noticeable. The stimulus is a more subtle change. There is also one key difference between the two. The New Deal focused on rebuilding the middle class while the stimulus focused on keeping the middle class afloat.
The Success and Failures:
The New Deal succeeded in many ways. First, it did prevent another depressions with it's fail safes. Second, some of the reforms are still helping people today, especially those getting their electricity from dams. The creation of government jobs still hold to this day.
The Stimulus is on going. However, from what's been going on, it seems like it's succeeding. Just today, the unemployment rate dropped to 7.7 percent. We predict that it will succeed in the future and strengthen America's Economy. One thing to notice: This stimulus seems resemble the New Deal in terms of the Recovery part. It doesn't seem to have any sections to prevent future recessions however.
The New Deal = For the people.
The Stimulus = For the wallets.
Blinder, Alan, and Mark Zandi. "How the Great Recession was Brought to an End." How the Great Recession was Brought to an End. economy.com, 27 Jul 2010. Web. 28 Feb 2013. <http://www.economy.com/mark-zandi/documents/end-of-great-recession.pdf>.
http://www.economy.com/mark-zandi/documents/end-of-great-recession.pdf
Summary: This source starts with a very long and detailed explanation with how the Great Recession ended. After going into the explanation with words it moves into a chart that shows what kind of things got cut out and how much it saved. then it moves it into, again with words, what that means for the american people. And continuous with more graphs, charts and then explanation.
Assess: From what I wanted over this source has a lot of different things. It is not broken down in the best way still its detailed. Giving a good mix of different information without being too messy. It has a lot of analysis and charts with many different things to work with for this project.
Reflect: This source has a lot of things that we can use to make this project really interesting and gives many different points. It is something that we can trust even though it is not an edu it has a lot of really good work with two pages of citations. Overall I think that its a good place to get information.
Krugman, Raul. "Responding to Recession." New York Times. OP-ED COLUMNIST, 14 January 2008. Web. 28 Feb 2013. <http://www.nytimes.com/2008/01/14/opinion/14krugman.html?_r=0>. http://www.nytimes.com/2008/01/14/opinion/14krugman.html?_r=0
Summary: This source is much shorter than the first one that I found how it still explains the way things were worked through and gives a little bit more of a basic understanding of how things happen. It is clear and well organized.
Assess: From what I wanted over this source has many things that we can use and work off of. It detailed and broken down well. I think this will be one of the things that we use to start the project off with.
Reflect: This source has a lot of things that we can use to make this project really interesting and gives many different points. It is something that we can trust even though it is not an edu it has a lot of really good work and its on the New York Times website so it can be trusted. Overall I think that its a good place to get information and it will be helpful to the project.
3. "The Great Recession of 2008-09: Year In Review 2009 (recession) : The U.S. Response." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 28 Feb. 2013. <http://www.britannica.com/EBchecked/topic/1661642/The-Great-Recession-of-2008-09-Year-In-Review-2009/286636/The-US-Response>.
- Summarize:
- This article covers the Obama’s administration response to the recession. It explains how President Obama pushed out a 787 billion dollar stimulus plan into the economy. It also talks about how the democrats and republicans argued over which way was the best way to go about saving the economy. It also talks about other smaller plans that were enacted.
- Assess:
- This source is a primary source and is written by Britannica. It goes into detail about the problem at hand. There doesn’t seem to be an argument so it is unbiased. It gives a good mix of information on the topic at hand, however, it seems to focus a lot on the actions President Obama took.
- Reflect:
- This source is mostly unbiased which makes it a good resource for taking a sides simply because it doesn’t take a side. We get both sides of the story which allows us to pick a side without being persuaded by the author. It really doesn’t help shape the argument, instead it helps pick an argument.
4. "Center on Budget and Policy Priorities." N.p., n.d. Web. 01 Mar. 2013. <http://www.cbpp.org/cms/index.cfm?fa=view&id=3108>.
- Summarize: This source contains a lot of organized data and breaks down each state tax change during the recession. It specifically focuses on the tax changes during the 2008-2009 time period. It then breaks down each tax change into different categories. Then breaks down each category by going into detail.
- Assess: It goes into great detail on every little bit of tax reform that happened in 2008 and 2009. It’s clear concise and straight to the point. There doesn’t seem to be any opinions listed, it’s just stating straight facts or what we believe to be facts. There are also plenty of graphs and charts to keep things more organized.
- Reflect: This source is helpful in a variety of ways. I goes into little details which make everything easier to understand. Also, it goes into detail about what each individual state did, making it even better. Now we have information on both the federal governments and state governments reaction to the crisis.
- Wiegand, Steve. N.p.. Web. 24 Feb 2013. <http://www.dummies.com/how-to/content/franklin-delano-roosevelt-and-the-new-deal.html>.
- Summary:
- Basically, the author decided to break down parts of the New Deal made by Franklin D. Roosevelt. It literally breaks down every part of the Deal and explains its significance in the economy.
- Assess:
- So far this source is the best source is the best source in our bibliography. this source really just breaks it down and keeps it simple. Everything is just there. You don’t have to go searching for the information because it’s right there in your face.
- Reflect:
- This source, I think, covered everything that we need to cover. It’s seems to be un-opinionated and keeps to the facts. This is perfect for our project because we can narrow down to a specific part and we don’t have to do a lot of searching for the information. The benefits of summaries. The only problem is, it’s missing little details and examples, but that’s perfectly fine for now. The other sources should cover the little details.
- . N.p.. Web. 24 Feb 2013. <http://www.dummies.com/how-to/content/franklin-delano-roosevelt-and-the-new-deal.html>.
- Summary: This website takes what the dummies website did and breaks it down. It also includes a timeline and keep everything organized into specific pages. There aren’t any arguments, just straight facts and some analysis.
- Assess:
- This source is basically just the dummies source but broken down even more. Which is good. We can use this type of information to cross check other sources and keep everything in line. It’s really nice because it gives a convenient timeline to keep everything organized. Although it’s not quite as straightforward as dummies.
- Reflect:
- Like I said before, this source has a lot of things that dummies has. However, it breaks everything thing and goes into some detail. So if we go in order, for a brief summer of stuff, dummies is the way to go. Want some more detail? This website should help a bunch. It also verifies everything that dummies said making them both valid.
- . "The Great Depression and New Deal, 1929-1940s."Welcome to HIST 1302 Online. Welcome to HIST 1302 Online. Web. 22 Feb 2013. <http://iws.collin.edu/kwilkison/Online1302home/20th Century/DepressionNewDeal.html>.
- http://iws.collin.edu/kwilkison/Online1302home/20th%20Century/DepressionNewDeal.html
- Summary: This source takes you first though the background and some of the causes of the Great Depression with both words and charts. After that it goes into the government response of both Hoover and Roosevelt and tells the differences. After this it kind of side tracks before going into the new deal by tell Keynes’, an english economist, theory. Now it tells us about the first and second new deal.
- Assess: From what I wanted over this source a longer more in depth explanation over everything that we have gone over in class and the new deal. Giving a good mix of different other sources within it. It give ads, charts, photos, quotes and then seconder analysis.
- Reflect: This source has a lot of things that we can use to make this project really interesting and gives many different news of things so that it will not be a one sided project. It is something that we can trust because its used for a college course and its on an edu website. Overall I think that its a pretty great place to get information.
- Hardman, John. "The Great Depression and the New Deal." Ethics of Development in a global environment. Stanford, 26 Jul 1999. Web. 24 Feb 2013. <http://www.stanford.edu/class/e297c/poverty_prejudice/soc_sec/hgreat.htm>.
- http://www.stanford.edu/class/e297c/poverty_prejudice/soc_sec/hgreat.htm
- Summary: This source starts of talking about Roosevelt's address to the american public and then works its way into the Great Depression giving a summary and then breaks off into the impact of the great depression. Without taking too much time it move into the New Deal and then after that the things that were affected by it like unemployment, agriculture, and then African-Americans and how they were affected by both the depression and new deal.
- Assess: From what I wanted over this source a longer more broken down but still detailed with every thing that we want over in class and with the points on the new deal. Giving a good mix of different information without being messy. With a few chats and seconder analysis.
- Reflect: This source has a lot of things that we can use to make this project really interesting and gives many different points and is well broken down so that will be good for us project. It is something that we can trust because its used for a college course and its on an edu website. Overall I think that its a good place to get information.
