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The Great Depression Of The 1930’s. -Nicole Oparaugo & Mycole Robinson . Understanding The Great Depression…. The Great Depression occurred throughout the 1950’s post WWl. The crisis hit throughout the world, but primarily in The US and Germany.
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The Great Depression Of The 1930’s -Nicole Oparaugo & Mycole Robinson
Understanding The Great Depression… • The Great Depression occurred throughout the 1950’s post WWl. • The crisis hit throughout the world, but primarily in The US and Germany. • Germany depended on American bank loans, money that the Germans intended to lend at higher interest to emerging nations. • However this way of banking rapidly faded when the American stock market plunged.
Understanding The Great Depression • Seeing the rapid decline in the economy, people began withdrawing their savings, and saving as much money as they could. • By saving their money, it caused a decline in demand, a drop in the employment rate. • Which in turn made countries endorse the “Gold Standard”
Gold Standard? • The Gold Standard was simply a way for the countries to try and keep their heads above water. • The Gold Standard prevented countries controlled inflation to help get out of the depression. • Inflation increased the amount of money, but lowered its value. • This discouraged people from saving because they realized that their money would soon be worthless.
Primping The Pump • John Maynard Keynes was an English Economist • He urged the idea of deficit spending to fix the economy. • He encouraged the fact that by temporarily providing the people with jobs and income again to enable a spending recovery, it will restore the economy. • This in turn was just another misguided measure countries took
Fascism • Fascism was a goal to destroy the notion of the individual and instead push for a common community. • The Italian Facsits had Il Duce, and the Germans were the Fuhrer, men who represented the desires and dreams of the nation. • Fascist were against the political emancipation of women, they hated modern art, and they despised a religious faction.-Jews(Only in Germany)
Benito Mussolini • Mussolini was the fascist leader in Italy • He originally was the editor of the socialist newspaper, but soon became a fascist. • He founded the National Fascist Party which members were known as “The Black Thugs” • October 1922 Mussolini demanded to be put as Prime Minister. • He was granted that position, and banned all non-fascist activity. • However Benito’s plans never reached its expectations.
Adolf Hitler • Adolf Hitler was named Chancellor in 1933 • He set up the Enabling Act, which gave the party emergency powers to govern the state. • In summer of 1933 Hitler banned all political parties except the Nazis, and followed with an attack on the independent trade union movement.
Great Depression- WWll • Adolf needed the support of the army to continue on with his plans. • He eventually gained it, and organized groups such as the Hitler Youth to establish a sense of intimidation in the people. • August 22 ,1939 Germany and Soviet Union signed a non aggression pact, this led to the invasion of Poland, and the second World War