Unit+9

__//** INDIVIDUAL - Writing Prompt: (10 points) **//__


 * Write 1 complete paragraph - approximately 5 sentences**
 * “We have always known that heedless self-interest was bad morals; we know now that it is bad economics."**


 * What do you think this quotation means? Do you agree or disagree with it? Why?**
 * I believe that this quotation is saying that we are very selfish, which I agree and disagree with. I agree because we are very selfish, but at the same time I disagree, because not everyone is selfish out there. Most people who are filthy rich want to keep their money to themselves. Part of this is because we all need to survive and we cant just be giving out all our money to help everyone. But some of those guys out there have so much money, they don't even know what to spend it on. I believe that those are the people that need to share with people who need it. But don't get me wrong, there are plenty of giving rich people out there. And then there are the people who are barely making it by **** (Which is the average american these days), **** and need to keep as much money as they can make. **


 * Do you think this quotation could be applied to contemporary America? How? (minimum 3 sentences)**
 * Of coarse I do. Like I explained in the previous paragraph, I believe that most Americans out there right now are barely making it by and need to salvage their money. Then there are the people who are in need of serious financial help, and all the rich people who spend their money on chains and necklaces are to selfish to help anyone out. They are more concerned about the rims on their cars. **


 * To what other moments in history could this quotation be applied? When and how? (give two examples)**
 * One example (Non-Selfish) is World War 2. Many people had fought in the war and helped each other out when others were in need. This allowed us to win, because we worked together. **
 * Another example (Selfish) is the Donor Party. They had a very long journey on foot and they eventually ran out of food. Starvation led to cannibalism. **

__//** INDIVIDUAL ﻿(20 points) **//__


 * Read and outline the article found here - in your outline pay particular attention to key ideas, dates, persons involved, economic conditions and consequences of their decisions**


 * //** Mr. Obama vowed, within the first five minutes of his remarks, to “act swiftly,” he too was offering the same message to a country every bit as receptive. **//
 * //** Mr. Obama made it plain that he would not let the American auto industry die. **//
 * //** “We are facing the greatest economic challenge of our lifetime, and we’re going to have to act swiftly to resolve it.” **//
 * //** In 1933, the Dow Jones average was down 75 percent from its peak in the year of 1929. **//
 * //** “to ensure that the government’s efforts are achieving their central goal of stabilizing financial markets while protecting taxpayers, helping homeowners and not unduly rewarding the management of financial firms that are receiving government assistance.” - a promise from Mr. Obama **//
 * //** “The only thing we have to fear is fear itself.”-F.D.R. **//
 * //**foreclosures, probably led by the Federal Deposit Insurance Corporation, which has been pressing the Bush administration for weeks to sign off on a plan it devised ages ago. **//
 * //** Seventy-five years ago, the last time the country was this close to economic abyss, Franklin D. Roosevelt delivered his famous inaugural, the one where he uttered those immortal words, “The only thing we have to fear is fear itself.” **//
 * //** President Barack Obama would like to provide economic assistance to state, and local governments that have been hurt by the financial crisis. **//
 * //** A stimulus package to prod the economy that he hopes will pass before he even takes office; extended unemployment benefits and other relief measures for people who are struggling; and an effort to stem the rising tide of foreclosures **//
 * //** “I think Obama has it within his power to do the Roosevelt thing,” -Harvard professor named Robert D. Putnam **//
 * //** There were many more bank failures, far more devastating foreclosures, especially among farmers, and much greater hardships during the Great Depression than there are now **//

__//** Answer the following questions - **//__


 * 1) **What are the parallels between the economic challenges facing the United States today and those that existed when F.D.R. took office? Back then, the economy much worse then ours is today. But ours is also still going down. **
 * 2) **In what ways are the economic challenges facing the United States today different from those that existed when F.D.R. took office? Back then, the country was very close to becoming a perfect disaster and falling apart. But they worked hard to get out of the depression. **
 * 3) **What parallels does Joe Nocera, the author of the article, draw between President Herbert Hoover and President George W. Bush? ****He explained that they were all working very hard together to try to pull the U.S. out of the depression we were in. **
 * 4) **Do you think these comparisons are fair? Why or why not? (3 sentences minimum) ****Yes, I do believe that the comparisons are fair. They were putting in a very hard effort to put our country back to the way it was. They got tired of it being in the economic dump that it was in. **
 * 5) **What parallels does Joe Nocera draw between President Franklin D. Roosevelt and President Barack Obama? Joe Nocera explained that they have all been in this position at one point in time. He believes the Obama needs to become an F.D.R. to get our country back to what it used to be, so we can get out of this major financial crisis for most people. **
 * 6) **Do you think these comparisons are fair? Why or why not? ( ****3 sentences minimum) I most definitely agree with this, because we need to do anything we possibly can to get the United States of America back to how it used to be. Once upon a time..... **
 * 7) **What could Barack Obama learn by studying how F.D.R. stepped into his role as president? President Obama can learn that F.D.R. stepped into his role as a president because our country is in need of major help right now. And it would help us all greatly if he could become an F.D.R. to get everything back on track. **

__//** Writing - 20 points **//__


 * Do you think that President Obama could be “another F.D.R.” Why or why not?** **What will he have to do to fix the economy? Minimum 2 paragraphs and 3 internet resources cited for your response. Simple web links for citations are acceptable. Make sure to correctly cite quotes within your response.**

**If Obama was to become another "F.D.R.", he will have to fix the economy. And being a democrat doesn't really help the situation. He's more concerned about getting all of our money to spend on things that we really don't need. He's all about taxing products higher to get our money so that we can pay for people who are to lazy to get their own jobs.**
 * I believe that President Barack Obama will never be capable of becoming an "F.D.R.". For Obama to become "F.D.R.", he would have to pull us out of debt. I don't see that possible right now, because all he has done is put us into debt. F.D.R. got us out of debt when our country was at its absolute worst. The great depression was taking place and F.D.R. stepped us up and got us back on track. **

Section 1

 Vocabulary:

stock market  - a public (a loose network of economic transactions, not a physical facility or discrete) entity for the trading of company stock (shares) and derivates at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.

bull market - <span style="font-family: 'Arial Black',Gadget,sans-serif;">a market in which share prices are rising, encouraging buying.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">invest <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">margin <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - the edge or border of something

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">margin call <span style="font-family: 'Arial Black',Gadget,sans-serif;">- a demand by a broker that an investor deposit further cash or securitiesto cover possible losses.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">speculation <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - form a theory or conjecture about a subject without firm evidence

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">sum installment <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - A sum of money paid or claim discharged.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">reaction <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - an action performed or a feeling experienced in response to a situationor event

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">People and Terms:

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Alfred E. Smith-
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">was born on Manhattan’s teeming Lower East Side.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Alfred was forced to quit parochial school after his father's death and worked for a while at the famous Fulton Fish Market.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Smith began his long political career in 1894, when he supported an anti-Tammany Hall candidate in a local race.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Smith lost but was rewarded with a political appointment by the city’s mayor
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">elected as New York county sheriff in 1915 and president of the New York City board of aldermen in 1917.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">took back the governor’s chair in 1922, 1924 and 1926

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Black Tuesday-
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">October 29, 1929
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">when panicked sellers traded nearly 16 million shares on the New York Stock Exchange
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Black Tuesday is often cited as the beginning of the Great Depression.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Stock prices had risen across the board, even for companies that posted little profit.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Prices then began falling slightly, as investors started to take profit.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Hawley-Smoot Tariff-
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">was an act, sponsored by United States Senator Reed Smoot and Representative Willis C. Hawley
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">signed into law on June 17, 1930
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">raised U.S. tariffs on over 20,000 imported goods to record levels.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">Some economists have opined that the tariffs contributed to the severity of the Great Depression.
 * <span style="font-family: 'Arial Black',Gadget,sans-serif;">The main goal was to protect American jobs and farmers from foreign competition

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">QUESTIONS


 * 1) <span style="font-family: 'Arial Black',Gadget,sans-serif;">INDIVIDUAL - How important is the stock market to the U.S. economy today? I honestly have no clue... but I would imagine that it is pretty important.
 * 2) <span style="font-family: 'Arial Black',Gadget,sans-serif;">How do Americans participate in the stock market? by stock and when it rises and fall we ether pay or they pay us.
 * 3) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Several situations led to the stock market crash. List these causes (there are six (6) of them)
 * 4) <span style="font-family: 'Arial Black',Gadget,sans-serif;">How did religion play a part in the 1928 presidential election? they told the people to vote for the president
 * 5) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Why did many investors buy stocks on speculation in the late 1920s? because they though it was going to be good no matter what
 * 6) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Why did many banks collapse in 1929? no one was putting money in the bank so there was no one barowing money so the bank wasn't making money
 * 7) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Describe the Hawley-Smoot Tariff. <span style="color: #ff0000; font-family: Arial,Helvetica,sans-serif; font-size: 12px; line-height: normal;">Moving companies that transport household goods between states are required to have a tariff. A tariff is a document that sets forth the rules a company will follow and the rates that a company will apply to all of its shipments.
 * 8) <span style="font-family: 'Arial Black',Gadget,sans-serif;">How did the Hawley-Smoot Tariff contribute to the Great Depression? help fix it by giving the government money

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">Section 2

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;"> Vocabulary:

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">suspend <span style="font-family: 'Arial Black',Gadget,sans-serif;">- temporarily prevent from continuing or being in force or effect

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">bailiff <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a person who performs certain actions under legal authority, in particular

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">shantytown <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a deprived area on the outskirts of a town consisting of large numbers ofcrude dwellings.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Hooverville <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a shantytown built by unemployed and destitute people during the Depression of the early 1930s.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">hobo <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a homeless person; a tramp.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Dust Bowl <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - an area of land where vegetation has been lost and soil reduced to dust and eroded, esp. as a consequence of drought or unsuitable farming practice.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">colleague <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a person with whom one works, esp. in a profession or business.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">soap opera <span style="font-family: 'Arial Black',Gadget,sans-serif;">- a television or radio drama series dealing typically with daily events in the lives of the same group of characters.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">technique <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a way of carrying out a particular task, esp. the execution or performance of an artistic work or a scientific procedure.

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">People and Terms:

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Walt Disney <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - (1901–66), U.S. animator and movie and television producer; full nameWalter Elias Disney. He became known for his cartoon characters that included Mickey Mouse (who first appeared in 1928), Donald Duck, Goofy, and Pluto.Snow White and the Seven Dwarfs (1937) was the first full-length cartoon with sound and color. Other notable animated movies:Pinocchio (1940), Dumbo (1941), Bambi(1942), Cinderella (1950), andPeter Pan(1953).

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Grant Wood <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - (1892–1942), U.S. artist. He is most noted for his scenes of his native Iowa in paintings such as Woman with Plant(s) (1929), American Gothic(1930), and Spring in Town (1941).

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">John Steinbeck <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - (1902–68), U.S. novelist. His work, such as Of Mice and Men (1937) and The Grapes of Wrath(1939), is noted for its sympathetic and realistic portrayal of migrant agricultural workers in California. His later novels include Cannery Row (1945) and East of Eden(1952). Nobel Prize for Literature (1962).

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">William Faulkner <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - (1897–1962), U.S. novelist. His works deal with the history and legends of the U.S. South and have a strong sense of a society in decline. Notable works: The Sound and the Fury(1929), As I Lay Dying (1930), andAbsalom! Absalom! (1936). Nobel Prize for Literature (1949).

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">QUESTIONS


 * 1) <span style="font-family: 'Arial Black',Gadget,sans-serif;">INDIVIDUAL - What images come to mind when you hear the words Great Depression? Images of people starving, and people losing everything
 * 2) <span style="font-family: 'Arial Black',Gadget,sans-serif;">INDIVIDUAL -Where do you think these images come from? My mind? When I think of "the great depression"
 * 3) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Art during the 1930s reflected the Depression. Describe how it did so in painting, writing and photography. The pictures that were taken of the people on the streets with no food and people dyeing reflected what happened
 * 4) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Why did many farmers in the Great Plains leave their land in the 1930s and head west? yes they did
 * 5) <span style="font-family: 'Arial Black',Gadget,sans-serif;">What part did movies and radio shows play in Americans’ lives during the Great Depression? They enabled the people to hear and see what was going on all over the US
 * 6) <span style="font-family: 'Arial Black',Gadget,sans-serif;">What was the subject of John Steinbeck’s The Grapes of Wrath? the subject was the great depression

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">Section 3

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;"> Vocabulary:

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">series <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a number of things, events, or people of a similar kind or related nature coming one after another

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">public works <span style="font-family: 'Arial Black',Gadget,sans-serif;">- the work of building such things as roads, schools, and reservoirs, carried out by the government for the community.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">community <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a group of people living together in one place, esp. one practicing common ownership

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">contribute <span style="font-family: 'Arial Black',Gadget,sans-serif;">- give (something, esp. money) in order to help achieve or provide something

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">relief <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - a feeling of reassurance and relaxation following release from anxiety or distress

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">foreclose <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - take possession of a mortgaged property as a result of the mortgagor's failure to keep up their mortgage payments

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">People and Terms:

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Reconstruction Finance Corporation <span style="font-family: 'Arial Black',Gadget,sans-serif;"> - was an [|independent agency of the United States government] chartered during the administration of [|Herbert Hoover] in 1932. It was modeled after the [|War Finance Corporation] of World War I. The agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses. The loans were nearly all repaid. It was continued by the [|New Deal] and played a major role in handling the [|Great Depression in the United States] and setting up the relief programs that were taken over by the [|New Deal] in 1933.

<span style="color: #ff0000; font-family: 'Arial Black',Gadget,sans-serif;">Bonus Army <span style="font-family: 'Arial Black',Gadget,sans-serif;">- The self-named Bonus Expeditionary Force was an assemblage of some 43,000 marchers—17,000[|World War I] veterans, their families, and affiliated groups—who protested in Washington, D.C., in the spring and summer of 1932. Called the Bonus March by the news media, the Bonus Marchers were more popularly known as the Bonus Army.

<span style="color: #0000ff; font-family: 'Arial Black',Gadget,sans-serif;">QUESTIONS

> - Reconstruction Finance Corporation was an independent agency of the United States government chartered during the administration of Herbert Hoover in 1932. It was modeled after the War Finance Corporation of World War I. The agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses. > - Relief and Construction Act was the United States's first major-relief legislation, enabled under Herbert Hoover and later adopted and expanded by Franklin D. Roosevelt as part of his New Deal.
 * 1) <span style="font-family: 'Arial Black',Gadget,sans-serif;">For what issues have groups of people in the United States held demonstrations or protests in recent years? groups of people in favor of a political or other cause
 * 2) <span style="font-family: 'Arial Black',Gadget,sans-serif;">INDIVIDUAL - What issues do you think are important enough to demonstrate for? something that the majority of all the people are involved in.
 * 3) <span style="font-family: 'Arial Black',Gadget,sans-serif;">During the 1930s, the government proposed several programs to help end the Depression. Explain what each listed program was designed to do. (public works, National Credit Corporation, Reconstruction Finance Corporation, Emergency Relief and Construction Act) - public works was a New Deal agency in the United States headed by Secretary of the Interior Harold L. Ickes. It was created by the National Industrial Recovery Act in June 1933 in response to the Great Depression
 * 1) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Why did President Hoover propose the creation of public works projects? Unemployment rate was extremely high. Hoovers wanted to create jobs and put these men to work. Thus he proposed the creation of public works project
 * 2) <span style="font-family: 'Arial Black',Gadget,sans-serif;">What was the purpose of the National Credit Corporation? the purpose was to create a private banking system for people
 * 3) <span style="font-family: 'Arial Black',Gadget,sans-serif;">Why did veterans march on Washington, D.C., in 1932? it was made to request early payment of cash bonuses due to them in 1945