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Im always interested in topic regarding inflation.
Through the video , my knowledge has deepen.Inflation by its meaning is rising. The rising here is about the price of the goods has rose and ironically the purchase power has fallen. When it bring to the term of a country, resulting in the loss of currency value. The video shows that Germany burned their money to get warm. This is an eye opening view to me. I quickly realize that how ignorant I used to be .When my friends told me how much our country in debt , my first thought just print the money and all debt will be solved. Thank God I was not the leader of the country. This particular scene gives insight to me that the more money a country prints, the less valuable the money becomes. Is quite like the demand-supply market. When something is supplied in excess the price market will be driiven down. So how is it related to chapter 8? As I quickly ran through it, I saw a topic [how banks create money], I believe that for every extra money is created the must be a solid reason to support . This is to alleviate the effect of inflation and also not to drive the currency value down

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The title Im interested

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Chan May Ki 133020The Great Depression 	At the beginning of the Great Depression, the employment rate was less than the natural rate of unemployment. Gross Domestic Product was cut in half and it was partly because of deflation. During that time, many people had lost their jobs and met financial problem. Many of them also had nothing to eat. They lost their money and were forced to sell their cars, furniture, wedding rings and even houses in order to survive. In the video given, there was a father borrowing her daughter’s money from her piggy bank just for him to travel for searching jobs. Therefore, from here we can observe that the highest unemployment during the Depression and since then.	Next, during that time, the Dust Bowl drought destroyed agriculture in the Midwest. It lasted for 10 years was too long for most farmers. To make things even worse, the prices for agricultural products had dropped to their lowest level since the Civil War. As farmers lost their jobs, they became homeless and also met financial crisis.	During the Great Depression, half of the nation's banks failed. People were shocked to find out that banks had used their deposits to invest in the stock market. Therefore, they quickly run to the banks to take their money out but they were failed to do so. The banks were experienced shortage of money and were forced to close down. In the video shown, there was a man committed suicide since he could not get even 5 cents back from his 5000 dollars savings. 	Lastly, the Great Depression affected politics and did not trust the confidence of capitalism. This was advocated by Herbert Hoover and it failed. After that, people voted for Franklin Roosevelt and he promised that government spending would end the Depression. Due to his effort, the economy had grown and the unemployment rate began to decline. Finally in 1939, with the increase in government spending in World War II, the Great Depression had ended.

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Chan May Ki 133020The Great Depression 	At the beginning of the Great Depression, the employment rate was less than the natural rate of unemployment. Gross Domestic Product was cut in half and it was partly because of deflation. During that time, many people had lost their jobs and met financial problem. Many of them also had nothing to eat. They lost their money and were forced to sell their cars, furniture, wedding rings and even houses in order to survive. In the video given, there was a father borrowing her daughter’s money from her piggy bank just for him to travel for searching jobs. Therefore, from here we can observe that the highest unemployment during the Depression and since then.	Next, during that time, the Dust Bowl drought destroyed agriculture in the Midwest. It lasted for 10 years was too long for most farmers. To make things even worse, the prices for agricultural products had dropped to their lowest level since the Civil War. As farmers lost their jobs, they became homeless and also met financial crisis.	During the Great Depression, half of the nation's banks failed. People were shocked to find out that banks had used their deposits to invest in the stock market. Therefore, they quickly run to the banks to take their money out but they were failed to do so. The banks were experienced shortage of money and were forced to close down. In the video shown, there was a man committed suicide since he could not get even 5 cents back from his 5000 dollars savings. 	Lastly, the Great Depression affected politics and did not trust the confidence of capitalism. This was advocated by Herbert Hoover and it failed. After that, people voted for Franklin Roosevelt and he promised that government spending would end the Depression. Due to his effort, the economy had grown and the unemployment rate began to decline. Finally in 1939, with the increase in government spending in World War II, the Great Depression had ended.

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IKHWAN FAISAL          THE GREAT DEPRESSION (1929-1939)           1.Americans had to suffer this effect of economics downturn during which i felt sad during 1929 - 1939.2.  2. Monetary growth was deemed as an important tool as United States went into economics recession which leads to unemployment, poverty, plunging farm income and slow down the economics growth. 3. Americans was trying to save  their deposits in bank. As a result, bank run  occurs as seeen in the movie.                             4. Personally I believe that Federal government must takle action in controlling the economic situation. Federal reserves are truly important and lastly an open market as the last action to attract foreign investors

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IKHWAN FAISAL          THE GREAT DEPRESSION (1929-1939)           1.Americans had to suffer this effect of economics downturn during which i felt sad during 1929 - 1939.2.  2. Monetary growth was deemed as an important tool as United States went into economics recession which leads to unemployment, poverty, plunging farm income and slow down the economics growth. 3. Americans was trying to save  their deposits in bank. As a result, bank run  occurs as seeen in the movie.                             4. Personally I believe that Federal government must takle action in controlling the economic situation. Federal reserves are truly important and lastly an open market as the last action to attract foreign investors

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(The Great Depression)
1.       Banks failures during the Great Depression, people who had money deposited in banks cannot withdraw their money and banks lost approximately 140 billion.

2.       Farmers having a difficult time when they defaulting on loans because of the bank failures.

3.       New York Stock Exchange crash, production had already declined and unemployment had risen leaving stocks in great excess of their real value. Other causes of stock market crash is low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated. Stock prices began to decline, investment companies and bankers attempted to stabilize market by buying great blocks of stock.

4.       The world war 2 begin, there are hyperinflation occurred. The value of money dropped, people are being paid for their work twice a day but the value of money dropped. These caused to many people starving during the hyperinflation.

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The Great Depression (1929-1939)

1.The great depression has tormented many americans and their army veterans is blaming the government for the what was happening.
2.The americans army veterans wanted their money that has been promised in WW1 but it was not due to be paid in 1945.
3.This then make their banks is issued with financial crisis because lots of their investors has withdraw their money from the bank.
4. So the government found a way to solve the situations by forcing people to invests in their banks and this has lead to lots of americans cannot make living for their own lifes.

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Great Leap Forward

The Great Leap Forward planned to develop agriculture and industry.  Chairman Mao Zedong believed that both had to grow to allow the other to grow. Industry could only prosper if the work force was well fed, while the agricultural workers needed industry to produce the modern tools needed for modernisation. To allow for this, China was reformed into a series of communes.

1. Mao's policy of using a state monopoly on agriculture was mainly increase cash asset for the community and residents because had more financial support to let farmers develop their productivitiy. Besides, improvement in this will help increase GDP as well.

2. The quantity theory of money is the proposition that in the long run, an increase in the quantity of money brings an equal percentage in the price level. So they success grow their money and the price level from agriculture and industry.

3. Third, the excellent growing weather of 1958 was followed by a very poor growing year in 1959. 1960 had even worse weather than 1959. The harvest of 1960 was 144 million tons. 9 million people are thought to have starved to death in 1960 alone; many millions were left desperately ill as a result of a lack of food. This had caused they holding less money than the quantity demanded.

4. The government had to introduce rationing. This put people on the most minimal of food and between 1959 and 1962, it is thought that 20 million people died of starvation or diseases related to starvation. It was obvious that the Great Leap Forward had been a failure and even Mao admitted this. This was affect whole community which had stated than 30% fault of nature, 70% human error.

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mao's great famine-great leap forward
1. This is the first time I know about this China history about great leap forward, this is a tragedy as many people die from starvation throughout the process.
2. Mao Tze Tung want to make iron and steel production, therefore they move labor and resources from sector agriculture to sector industrial. These make sector agriculture ignore by the country and lead to insufficient crop and can hardly fulfil the demand of people. These make people starve and even ate tree and mug.
3. people who are working have to eat at the collective canteen. They establish a system of work point- food is distribute according to the work point. People have to work everyday in order to get work point, if not point will be taken away. The less point you get, less food will be distributed. This work point functioned as money for people in order to get food.
4. Due to the starvation that people face, many people make reduction in labor market, it can cause the decrease in the production of iron. It give a result in the recession of economy.

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Video: The history of inflation

1.       Based on what I have heard from the  video, inflation can cause a lot of trouble to the people. This is because, even though they have a lot of zero number behind the money, it actually  doesn’t have any value. Because of too many supply of money that being produce from the government (bank central) .

2.       Example, in German, the government keep on increased the salary of the people up to 2-5% and the will cause the supply of money increased and value of money decreased. Because of this, the German people use the extra money for the kids to play around and also heat themselves (burn the money).

3.       In Zimbabwe, in 2007-2008 the money cost from 50 dollars to 500 thousands dollars. this inflation happen not during the war but within 20th centuries. Because of government wanted to gain more wealth, they produce more and more money and the currency increase from billion into trillion. Although the amount was increase, but using the currency they have, which was billion only can costs them to buy a loaf of bread. But this wasn’t stop here, the current currency they have was 200 trillion dollars can afford them to buy 24 packs of beer and after 3 weeks, 200 trillion dollar only can cost them to buy 1 beers. This effect the people doing shopping, because the number keep on changing.

4.       From the history, I’ve learn that inflation and hyperinflation can cause a lot of trouble to the people and also country. as the preparation, try to save gold in our saving accounts rather than paper money. And to the government, to control the money supply rather than produce money according to their desire.

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BOAY CHING WEN                  Mao's Great Famine HDTV great leap forward, history of China    

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BOAY CHING WEN                  Mao's Great Famine HDTV great leap forward, history of China    

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1)The story is about “between 1958 and 1962, China descended into hell. Mao Zedong threw his country into a frenzy with the Great Leap Forward, an attempt to catch up to and overtake Britain in less than 15 years. The experiment ended in the greatest catastrophe the country had ever known, destroying tens of millions of lives."
2)In this case, money is important for that hard time. People are struggled and be forced to be a labor because of the scarcity. Goods and food stuffs are limited on that time. In addition, barter system are still applied in order to fulfill the wants.
3)As the video showed, the residents also be forced to become a work force for both male and female to develop agriculture and industry in order to increase farmer output. They have no choice because they need to follow the instruction in that situation.
4)In between 1959 to 1962, the crops which harvest was sent for debt, and each villagers only left few kilo of crops for a year need, so famine happen. During that period “Whose does no work shall not eat” principle was using in the urban area due to shortage of food. And also, government refused to open reserved food granaries for people which cause the number of death famine increase. Some were beaten or tortured to death and some even committed suicide.
5)In conclusion, money play a very important role as a economy function. It is because money is a medium of exchange and store of value to run a daily life. Without money, we cannot buy things and it is hard to us to continue survive. Same at here, the “Mao’s Great Famine” shows that without money, it is hard for Mao Tze Tung for making China as the biggest iron maker in the world and it had sacrificed a lot of their residents.

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CHIN QIThe Great DepressionAfter watching the video, I can conclude 4 points from the case :1.The tragic of the “Wall Street Crash” brings a massive economic crisis to United States as it was the most serious stock market crash in the history of United States. Because of this tragic, the central bank of United States, the Federal Reserve System admonished the overly prediction, stocks were sold at a fast speed as mentioned.2.The bank in United States were short of cash due the the economic crisis, the people in United States had a tough times because they could withdraw their own money through the bank and some of the saving accounts are wiped out. This increased the rate of unemployment and poverty of United States , and decreased the consumers spending due to the massive economic crisis.3.The people in United States have a high demand for money because of their savings are gone and layoffs increasing. But the supply for money of the bank is very low, so the people in United States have to sell their assets such as cars, furniture and even wedding rings in order to survive through this economic crisis.4. With the presence of the new president of the United States, President Franklin D. Roosevelt. He pushed Congress to create the social security program welfare for the poor and jobs for those unemployed. This program is called 2nd hundred days and it improved American’s life, and improves banking system with the presence of centralized banking system.

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CHIN QIThe Great DepressionAfter watching the video, I can conclude 4 points from the case :1.The tragic of the “Wall Street Crash” brings a massive economic crisis to United States as it was the most serious stock market crash in the history of United States. Because of this tragic, the central bank of United States, the Federal Reserve System admonished the overly prediction, stocks were sold at a fast speed as mentioned.2.The bank in United States were short of cash due the the economic crisis, the people in United States had a tough times because they could withdraw their own money through the bank and some of the saving accounts are wiped out. This increased the rate of unemployment and poverty of United States , and decreased the consumers spending due to the massive economic crisis.3.The people in United States have a high demand for money because of their savings are gone and layoffs increasing. But the supply for money of the bank is very low, so the people in United States have to sell their assets such as cars, furniture and even wedding rings in order to survive through this economic crisis.4. With the presence of the new president of the United States, President Franklin D. Roosevelt. He pushed Congress to create the social security program welfare for the poor and jobs for those unemployed. This program is called 2nd hundred days and it improved American’s life, and improves banking system with the presence of centralized banking system.

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The Great Depression1.The tragic of the “Wall Street Crash” brings a massive economic crisis to United States as it was the most serious stock market crash in the history of United States. Because of this tragic, the central bank of United States, the Federal Reserve System admonished the overly prediction, stocks were sold at a fast speed as mentioned.2.The bank in United States were short of cash due the the economic crisis, the people in United States had a tough times because they could withdraw their own money through the bank and some of the saving accounts are wiped out. This increased the rate of unemployment and poverty of United States , and decreased the consumers spending due to the massive economic crisis.3.The people in United States have a high demand for money because of their savings are gone and layoffs increasing. But the supply for money of the bank is very low, so the people in United States have to sell their assets such as cars, furniture and even wedding rings in order to survive through this economic crisis.4. With the presence of the new president of the United States, President Franklin D. Roosevelt. He pushed Congress to create the social security program welfare for the poor and jobs for those unemployed. This program is called 2nd hundred days and it improved American’s life, and improves banking system with the presence of centralized banking system.

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The Great Depression1.The tragic of the “Wall Street Crash” brings a massive economic crisis to United States as it was the most serious stock market crash in the history of United States. Because of this tragic, the central bank of United States, the Federal Reserve System admonished the overly prediction, stocks were sold at a fast speed as mentioned.2.The bank in United States were short of cash due the the economic crisis, the people in United States had a tough times because they could withdraw their own money through the bank and some of the saving accounts are wiped out. This increased the rate of unemployment and poverty of United States , and decreased the consumers spending due to the massive economic crisis.3.The people in United States have a high demand for money because of their savings are gone and layoffs increasing. But the supply for money of the bank is very low, so the people in United States have to sell their assets such as cars, furniture and even wedding rings in order to survive through this economic crisis.4. With the presence of the new president of the United States, President Franklin D. Roosevelt. He pushed Congress to create the social security program welfare for the poor and jobs for those unemployed. This program is called 2nd hundred days and it improved American’s life, and improves banking system with the presence of centralized banking system.

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The Great Depression
After watching the video, I can conclude 4 points from the tragic:

1. The tragic of the “Wall Street Crash” brings a massive economic crisis to United States as it was the most serious stock market crash in the history of United States. Because of this tragic, the central bank of United States, the Federal Reserve System admonished the overly prediction, stocks were sold at a fast speed as mentioned.

2. The bank in United States were short of cash due the the economic crisis, the people in United States had a tough times because they could withdraw their own money through the bank and some of the saving accounts are wiped out. This increased the rate of unemployment and poverty of United States , and decreased the consumers spending due to the massive economic crisis.

3. The people in United States have a high demand for money because of their savings are gone and layoffs increasing. But the supply for money of the bank is very low, so the people in United States have to sell their assets such as cars, furniture and even wedding rings in order to survive through this economic crisis.

4. With the presence of the new president of the United States, President Franklin D. Roosevelt. He pushed Congress to create the social security program welfare for the poor and jobs for those unemployed. This program is called 2nd hundred days and it improved American’s life, and improves banking system with the presence of centralized banking system.

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The History of Inflation

1. When a bank borrows, it issues nominal financial instruments to creditors as  evidence of its obligation.

2. When a bank makes a loan, it accepts nominal financial instruments as evidence of the debtors' obligation to the bank.

3. The nominal interest rates will increase when the inflation increase. this increase the amount of debtors and creditors need to pay or receive when loan mature.

4. When this (raise of inflation) happened, all the nominal values will be higher at maturity.

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The History of Inflation

1. In United State it is about 23% of the actual money and the rest is digital is manipulated and it always bring it back to high inflation.

2. In Boulgarian at 1996s the value of currency is 122 hundred million.

3.  In January 1920s, in Jerman Mark Rebublic, there are so much money . the  salary of people up to 2%-5% per year. 3 years later, the value of money up to 1 million Mark and what happen is country spend a lot. 5 months later, the value up to 5 billion price Mark.

4. Civil War was occured because of suddenly the shrink of coins and they did not have money to buy multi equipment and so on

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THE GREAT DEPRESSION

1. The Great Depression  destroyed the U.S. economy and it was caused by the stock market crash in 1929. Half of all banks failed. Unemployment rose and homelessness increased. It took 25 years for the stock market to recover. The national debt was $23 billion.

2.The economy shifted from a pure free market economy to a mixed economy.

3. The deflation occurred from 1930-1932 and it caused the real interest rate increased. Deflation is dangerous because it has a spiral effect. the more prices drop, the less money is available to pay employees, which puts downward pressure on prices, which leaves even less money to pay employees, until you go out of business.

4. The Great Depression caused people could not take back their deposits/savings in the bank account. There was a father who borrowed her daughter's money to go out to look for work. Father said that he would return the money but at the end he didn't. It means money was very limited and important at that time.

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1. The video i choose is The Great Depression.
2. The Great Depression was an economic depression happened in United State on 1929 which lasted 10 years until 1939.
3. The Great Depression had caused unemployment increase and the wages decrease. Besides that, many farmers lost their farms too.
4. The major reason causes The Great Depression happened is stock market crashed. The failure of bank caused most of the people withdraw their money and consequently decreased the money supply in United States.

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'The History of Inflation
-Based on the video, what i heard is about the crisis and hyperinflation that happen in many country in the past. What i know is when the supply of money decrease, the interest rate will increase. So the government limit to supply paper money to keep the currency .

-Bank have to take risk if many people do not have money to pay for the high interest and the loan that they make.

-Norway's government increased the salary and the salary keep raising rapidly in the past. The interest rate will be low. This is because the supply of the money increases in market. The price of bond increase due to increase in demand for bonds.

- As we know, when inflation occur, the value of the money will be decrease. Many investors will stop invest money in the bank in order to avoid the loss. So, the supply of money will decrease and interest rate will increase. So, mostly people will stop borrowing from bank.

-Our economy will be getting worse if inflation happened. So we should do something in order to save our country’s economic.

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The Great Depression (1929-1939)

1.The Great Depression is the worst economic crisis in the country’s history. It left an indelible scar on American society .It caused unemployment increase , many farmers lose their farm, and many people suffer starving .

2.The cause of the great depression is the failure of the banks create panic.Investors withdrew all their deposits from bank.The Fed ignored the banks' plight. This situation destroyed any of consumers’ remaining confidence in financial institutions.

3.The people had sold their house to continue survivie during the great depression because the bank was not enough cash so people cant withdraw their money .

4. So, the money is very important in our lives.We need money to buy necessary things .

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The history of inflation

-In this video, Ludwig Von Mises said that "When government increase the quantity of paper money, the result is that the purchasing power of the monetary unit begin to drop, and so prices rise. This called inflation.
-Inflation and interest rates are often mentioned in the same breath, and this is because the two are closely related. In United States, baseline interest rates are set by the central bank and the Federal Reserve Bank. When the supply of money decrease, the interest rate will increase.
-In this video, John shows us many different types of money in others country and the value was very big but the actual value of the money is very small.
-John also mentioned about hyperinflation. Hyperinflation is an extremely rapid period of inflation usually caused by a rapid increase in the money supply. For instance, hyperinflation occurred in Canada. In order to keep the currency and avoid the situation getting worse, Canada government limit the paper money supply.

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The Great Chinese Famine

1. The Great Chinese Famine was a result of poor policy. Great ideas doesn’t mean great intentions. Private farmlands were converted into collectives, with no personal wealth in place. The idea of providing food stamp, is merely difficult to ensure every citizen is on the list, judging by the size of the nation.

2.  The people should matter, not the person in charge.  Chairman Mao showed poor leadership by doing what he thinks is in the “best interest” for the people, laying off officials who were critical of his ideas. But in reality he was just holding on to his ego.

3.  Education is vital to nation’s development, citizens of that era had no personal opinion, or couldn’t have their own opinion. Blindly follow what was told without rationality is hazardous.

4. Communism never made sense. Pure control over something is just unenforceable.

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The Great Depression (1929-1939)

1. First at all, i feel sad about what have happened to those Americans in the massive economic crisis.

2. Money is very important to make a payment. It is used as the medium of exchange, a unit of account and a store of value. When the stock market clash, unemployment increase and buying power decreased. To survive, many Americans forced to sell everything they have such as car, wedding ring or to buy on credit which fell into debt.

3. Bank creates money by making a loan. When the stock market fell, the brokers called in their loans.  There were no way to stop the banks of investing their customers' deposits. This cause the bank wiped out and short of cash. Its effect a lot of people lost their entire life’s savings. This depression was causing a lot of life to lose. For example, George Kelly hung himself in despair when he realised that he can’t get back the money he spent 40 years to save.

4. Federal Rerserve System is a central bank that influences the quantity of money. In 1931, Fed sold US dollar and bought gold. To preserve the US dollar's value, Fed raised interest rates again.This decrease the supply of money. More bankruptcies followed, millions of people out of work.

5. Lastly, I am glad that “New Deal” is designed to end the Great Depression. It provided jobs to the unemployment, helping them to increase their buying power and standard living. Although it may no help some people, it still vital for giving hope.

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The Great Leap Foward
(1958-1962)

(a)The Great Leap Foward happen in China during 1958-1962 lead by chaiman Maozedong to transfrom the countries. Maozedong  was stoping the residents of China from private farming, and those who involved in it were persecuted. And it resulted millions of dead.

(b)Money are important for that time as a medium of exchange for goods and services.However, goods and services are very limited on that time because forced labor happen cause public struggle sessions and social pressure.Barter system are still exists on that time to fullfill wants on hard time.

(c)The Great Leap Forward planned to develop agriculture and industry. The residents sacrifice their ownership and gave it as commune. People had no choice and believe that this changes will bring a better life to them.But things started to go wrong on 1959.The excellent growing weather of 1958 was followed by a very poor growing year in 1959. 1960 had even worse weather than 1959.China faced many obstacles to growth but it still have a strong economic growth nowdays.

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The Great Depression
(1929-1939)

-Economic crisis in the United State give suffered to the people at that time. This is caused by the collapse of new york stockmarket.
-When economy turn into recession, some of the bank have force to shut down because there is no money left in the bank. Because of this, the American people have lost their life savings.
-At that time, they had force to sold their house to get money to survive for their life.
-Money is very important in our life because it can makes exchanges for goods and sevice or for payment of debt. Without money, people can't continue their life.

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The video that I have chosen is The History of Inflation (Full 2015 Documentary)- How it affects you.

I choose this video because it talked about the currency and the history of hyperinflation of various country. At first, John explain about how inflation work and it is quite clear, he said that inflation is too much supply of money to chase the same amount of goods which causes the value of the money to decrease while the price of the goods increase.

1. In German, salaries of the people there raising rapidly which is 2-5% per year. It is quite high because there is a limit to how big an inventory of money we can hold and neither spend nor use to buy assets that generate income. For example, when the price level increase by 10 percent and we also increase the holding of your money by 10 percent, actually our real money is constant. This is because the quantity of real money demanded is independent of the price level.

2. In Zimbabwe, there was a hyperinflation where 100 trillion can buy 24 packs of beer, but after 3 weeks,200 trillion can only buy 2 to 4 beers. In my opinion, banks should play the role in changing the desired reserves by increasing it or limit the amount of money that the citizens can withdraw. They also can change to foreign currency.

3. The part that pull my attention is Zimbabwe is the country that suffer inflation not because of war. Large amount of money supply will lower the value of the money which cause the citizens need to carry a wheelbarrow full of money to buy the goods.

So all of us should learn from this history to avoid same mistakes or bad incidents happen again.
When a country suffer inflation, the economic of the country will unstable, the citizens also facing problems in fulfilling their daily needs in buying the goods.

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Chong Wai Hoong
The Great Depression.
1. In 1929 until 1939, United State was begin economics recession and deeply economics downturn. It makes many of the investor panic and wiped out.
2. Economics downturn was make many of employees have been  laid off by their company so cause high rate of unemployment ,depression ,the stock of market also decline and the economics of growth rate also decrease.
3.Many of the industry have been effected by economics downturn include construction ,agricultural,shipping,mining and logging as well as automobile like machine and so on.If makes many of the industry be forced to laid off employment and some of the industry was bankrupt.
4. Bank of united state suppose to make wise choice to prevent this type of economics recession happen again because the FED increase the fund rate cause crash of market stock and Fed also did not to increase the supply of money to combat deflation.

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AIMI AWATIF BINTI KHAIRUL ANUAR

THE  GREAT DEPRESSION (1929-1939)

From the video, USA had faced the massive economic crisis. It happened because of the collapsed of the New York stockmarket.

People got depress, worried and struggle to survive for their live. This is because, from time to time money that people hold is decreasing.

Also, they are facing the crisis which are unemployement and out of stock. They sold their house just to survive during that time.

People went to the bank to withdraw the money the bank has no money. Many banks had shut down because of no money left in it.

This crisis can be solved by electing new president to lead the way out of it. For example, Franklin D. Roosevelt was elected as the new president. But, in solving the problem, it takes time and it not impossible that the depression are not gone.

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The History of Inflation

1.    “When a government increases the quantity of paper money, the result is that the purchasing power of the monetary power begins to drop, and so prices rise. This is called inflation.” Ludwig von Mises said. This shows us that the value money decreasing because of the central bank was printing the money out of control. Although the value of money remain constant, the power of purchasing is drop. So the item to buy is lesser and lesser with the same amount of money.

2.     This video also shows us that although some of the value of money is very big like billion or million, the actual value still very small. This is because the supply of money is unlimited.

3.    During the war, there are hyperinflation happened. The value of the money dropped until the people burn the money to keep them warm. They felt that keep them warm are more worthy. This shows us that money is no value on that time due to the demand of money decreases.

4.     In some countries, the sellers increase the price of the item, actually it does not work cause the value of money too low.

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1. In 1929 until 1939, United state was first began to economics recession and deeply economics downturn. Therefore,downturn it gave a big impact to their country and other surronding country.

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“When a government increases the

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The Great Depression (1929-1939)
1.The collapse of the New York stock exchange in 1929 was only the most visible sign of a massive economic crisis. Because the crisis more people less money in their pocket and more people become unemployed.
2. Everyone fearful of losing what little they had left when people rush to the bank to withdraw their saving but the bank refused.When  saving gone and layoff increasing the people force to sell their cars,furniture,wedding ring to continue their life.
3. The depression hit the farm areas, hit the studies, the people also out of work and out of food.
4. Money are important in our life. As shown in the video the father borrow her daughter saving money to get out to look for working, the father needed the money.

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(( THE GREAT DEPRESION))
IS a economic depression which lasted for almost 10 years.

1) due to the interest rates raising again and again to preserve the dollar's value. that caused restricted the availability of money for continue their business and followed by more bankcrup.  5:16

2) the banks failed to pay back people saving money back to them. this failure caused too much of problem where people hang them self in despair. some people who successfully got their money keep save with them without using it it makes the environment more worse. because its took few years for them to save their money and now not getting back and push to poverty.  8:50

3) stock market have been crashed. t destroyed confidence in wall street markets and led to the great depression. people be panicked and desperate to follow anything to update their life style.

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The Great Depression

1. Through this video, I realize that money plays an important role in exchange for goods & services. As in the video, 20,000 army veterans and their families went to Washington to get know how the government going to do to as they didn't get paid for the service they have provided during the World War I.

2. Economic crisis can lead to a series of problems, decline in consumer's purchasing power and poor investment, which further leads to the drop in industrial output and hence the increasing of unemployment rate because the failing companies are unable to pay their employees. As in the video, even the US Steel, a great industrial company forced to layoff around 225000 of their workers during The Great Depression.

3. Money are important  to generate more money as it allows people to specialise and be more productive. As shown in the video, a father have to take her daughter's savings in order to gain more money.

4. Money play as an exchange agent , that  sellers are willing to accept it in exchange of goods or services. For example, an interviewee in the video, Marty Glickman, had exhausted all the credits his family have in order to get the local merchants.

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"The Great Depression (1929-1939)"

-The reason why United States having a great depression is because the stock market crashed. The Fed did not put enough money in circulation to get the economy going again. but instead allowed the total supply of U.S. dollars to fall.

-It was mention that a lot of people went to bank to withdraw their money. When a lot of people withdrew their cash, it will decreased the money supply. But the thing is they don't even get a cent from bank since the bank also run out of money. The banks had money shortage since cash withdrawal is higher than cash deposit.

-The President closed the nation bank and order treasury to rush them to billion dollars currency. When the banks reopen, the deposits exceed the withdrawal. So, the bank recover bit by bit. He make another 'Second 100 Days' where he pushed the congress to make social security program, welfare for the poor people and job for 8 millions people on public project. This help the unemployment rate to go down.

- To end depression, deficit spending should be done. When economy has high unemployment, increase in government purchases will creates market for business output, creating income and encouraging consumer to spend more, which increases the demand for business output. Then, the GDP will increase and lowering the unemployment rate.

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The video that I preferred is "The History of Inflation"

1. From the video, John mentioned that inflation is the expansion of money supply and decreases the value of the money and the prices begin to rise.
2. John also mentioned the hyperinflation had happened in Greece. Hyperinflation is actually a extremely rapid or out of control inflation. He also said that the hyperinflation in German is due to the increase in salary of people.
3. The causes of hyperinflation can be due to total loss of confidence in the money, rapid and massive increase in the amount of money printed,the growth in the output of goods and services is exceedingly  to the money printed out and so on.
4. Many people think that the government need a lot of money to become wealthier and start printing a lot of money is actually a wrong perception which is also the causes of hyperinflation occur.

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THE GREAT DEPRESSION (1929-1939)
1.Began soon after the stock market crash in October 1929, more people with less money and they were out of work and out of food.
2. In 1930, there were 9,000 banks fail.With word of bank failing, people rush to the bank to get their savings because fearful of losing their money. But, they are unable to do so. People had no choice but to sell their farm.
3. There were unemployment due to many factory were closed.
4. Dust storm hit because of the severe drought. Many plants were destroyed and also the shelter because of the storm.

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The Great Depression(1929-1939)

1)It was the deepest and longest-lasting economic downturn in the history of the Western industrialized world.The government promise the bonus to 20,000 army for their service on the world wars one but they refused to do so.The army do demonstration in front of the White House.
2)At that time, 225,000 workers were laid-off and many of them were starving because they don't have any money to buy  food until some of their parents have to 'borrow' their children savings.
3) Americans' people feeling fearful of losing what they had left in the bank so they rushing to bank for withdraw money but the bank refused to give their money because there were nothing left implicated by withdraw money more than saving.
4)When their saving were gone and laid-off increased so that they were forced to sold their cars,furniture,wedding rings to continue their life in this hard time.

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"The History Of Inflation"

-In the video,John said that inflation happened is because of the increase in money supply and the issued of bond. One of the country that affected by the hyperinflation is in Weimar Republic, Germany(1921)
- John stated  that the hyperinflation was mainly caused by the increased of people’s salary up to 2% -5% per year. As money on hand increase, the ability of people to purchase goods increase.
-In order to pay debt, government of Weimar Republic prints more and more of money. The deficit spending was lead to the hyperinflation that occur in Weimar Republic.
-Government start to printing big amount of paper money in a very short period. But the value of money is actually diminishing. As what John said they are using more bigger amount of money to buy the same goods as before. Government print big amount of money is because of people stop believing in using currency.

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The Great Depression
1. On the economic crisis days, Americans was feeling fearful of losing their money and they were rush to the banks tp withdraw their savings. This caused the banks to run out of cash because the withdrawal of cash was much higher than the deposit of cash

2. Due to the economic, many banks were forced to close and because of that many Americans lost their savings. Due to this, many Americans decided to commit suicide.

3. Economic crisis forced many Americans to sell their cars, their furniture and even their wedding rings to survive in those hard times.

4. Rescuing the banks was only the beginning in Roosevelt first hundred days in the White House. When the bank's reopened, deposits easily exceeded withdrawals. Roosevelt moved a breath taking pace regulating business, helping farmers and popping new money into the economy. It was the most massive intervention in the lives of the American people the country had ever known

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The Great Depression

1) I am quite surprised that United State had been experiencing those very tough times as United State is the most powerful country in today's world. Besides, I also learnt that how great depression has led to unemployment, homelessness and other problems.

2)  As we know, money plays a vital role in our daily life. Thus, when there was economic downturn in Great Depression, most of the people intend to withdraw their money from their bank accounts. However, this caused the banks to run out of cash as the withdrawal of cash was much higher than the deposit of cash.

3) There were increasing layoffs people which forced them to sell their cars, their furniture and even their wedding rings to survive in those tough times.

4) In this particular cases, there were some examples that showed how a leader plays a vital role in recover his or her country's economy. For example, president Roosevelt pushed the congress to create the social security programs welfare for the poor and jobs for those who are unemployed . Finally, it reshaped the American life after the Great Depression.

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The Great Depression

1. The importance of money as a means of payment or exchange is amplified during the great depression. The people in America needed money to purchase necessities in order to survive. The examples in the video include a father 'borrowing' money from his daughter's piggy bank in order to pay for his travels in search for a job.

2. Deposits of individuals and businesses at banks are also counted as money. Deposits are money because the owners of the deposits can use them to make payments. That is why during the great depression where the importance of money is amplified, people are willing to do anything, including gather outside the banks for several days, just to get their savings back.

3. Due to the incident mentioned in number 2, the banks further experience a shortage of cash and thus, many of the banks were forced to close. The failure and closing of these banks cause many Americans to lose their savings. Due to this, many Americans decide to commit suicide as they had lose hope.

4. The government plays an important role in managing a country's monetary policies. A nation may suffer if the government is unable to take proper actions during a financial crisis, as reflected by President Herbert Hoover's lack of response during the Great Depression.

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THE HISTORY OF INFLATION

“When a government increases the quantity of paper money, the result is that the purchasing power of the monetary power begins to drop, and so prices rise. This is called inflation.” ~Ludwig von Mises~
According to Ludwig von Mises, as the amount of paper money increase, the purchasing power of money will drop and become smaller. This is because as people have more money means their ability to purchase goods increase. But as we all know our resources (goods) are limited, so in order to purchase a goods people need to pay more and higher prices than other people. This makes the power of money decrease, the price of goods increase and that is called inflation.

From the video, John Thore Stub Sneisen had mentioned that the value of money increase as the supply of money is small. As central bank produces a lot of paper money, then the paper money will become no more value as everyone can get it easily. However, if the supply of money is less, it will be more valuable.

Due to the video, hyperinflation had happened in many countries such as German, Zimbabwe and Canada. Hyperinflation is an extremely rapid period of inflation and usually caused by a rapid increase in the money supply. The happen of hyperinflation causes the money become no value until people can burn it to keep warm.

Inflation happen will make the economy getting worse. The main reason of inflation is the increasing of quantity of paper money. To overcome this problem, government must stop printing more and more paper money and keep the quantity of paper money in a certain level. The increasing amount of paper money will reduces its value. Hence, it become useless.

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-After watching the video of the history of inflation, we know that the inflation problem is caused by the increasing of quantity of money which lead the purchasing power of money decrease. At the end, the price of product in crease and inflation occur.
- In the video, John said that there is a hyperinflation occur in German. This is because the salary of the people increase rapidly until 2-5% a year. The increasing salary, cause the money on hand increase and the seller also will increase the price of product. So, the inflation occur in this country.
- In my opinion, when the supply of the money increase,  the value of a money will decrease. When the value of money decrease, the purchasing power also will decrease. It will cause a country hard to cooperate with others country. The economic of the country will become worse.
- The way to solve the problem of hyperinflation is reducing printing money by government. The decreasing quantity money will  increase the purchasing power of money and price will decrease.

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MAO'S GREAT FAMINE:
Great Leap Foward
1. The Great Leap Forward was an economic and social campaign which led by chairman Mao ZheDong and aimed to rapidly transform the country from agrarian economy to socialist economy through industrialization and collectivization. At those time, private farming was prohibited.
2. During the Great Leap, the Chinese economy initially grew. Iron production increased 45 percent in 1958 and a combined 30 percent over the next two years, but plummeted in 1961, and did not reach the previous 1958 level until 1964.In agrarian policy, the failures of food supply during the Great Leap were met by a gradual de-collectivization in the 1960s that foreshadowed further
de-collectivization.
3. In a results, the failure of agricultural policies, the movement of farmers from agricultural to industrial work, and weather conditions led to millions of deaths from severe famine. However not all death were from starving, some were beaten or tortured to death and some even committed suicide.
4. In my opinion, the Great Leap Forward campaign first was aimed to make a better economy but after that become the campaign which appears many negative effects no matter on government, the people,  or economy. Political economist Dwight Perkins argues, "enormous amounts of investment produced only modest increases in production or none at all. ... In short, the Great Leap was a very expensive disaster."

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THE GREAT DEPRESSION (1929-1939)

1. I am curious about a country like USA has an experience from these crisis, so i chose these video.

2. It was the worst economics crisis depression in Western World. The Great Depression caused the stock market crash and resulted in depositors take out their money from bank.

3. People started to get panic and rushed to withdraw money caused the bank to shut down.

4. The natural disasters such as dust storms and black blizzards caused many people to abondon their farms. Therefore, the unemployment rate raised. This lead to the depression in that time.

Money is important in our daily life and it becomes our needs. So if without money nowadays, we cannot buy things and it is hard for us to survive.

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Mao's Great Famine (The Great Leap forward)

There are a few decision or policy made by Mao's (The president of People Republic of China) in that moment, which have a aim to bring new China have a great leap within 15 years, and the decision or policy made by him, was bring china to the Famine period in year 1958 until the end of 1962.

1. Mao's ask Stalin (president of USSR, Russia now a day) for economic help, USSR provided huge property of army, factory, industrial and agricultural and all kind of adviser. So that, China was dependence on USSR, and Mao follow the Model of Economic faithfully which on going in USSR and China have to paid a huge debt to USSR as well.

2. China on going Land Reformation, which all farmers can have their own land for harvest in 1949, but 3 year later Mao's scared that small lander will appear, Mao persuasive farmer to formed a cooperate with collective farming by 50 families. This policy is based on Moscow ideal, when Russia banded Stalin ideas, the campaign of collectivization of land were been stopped.

3. "The hundred flower campaign" was a way of practice citizen to critic the government and parties was become a method of Mao's to silence his enemy and most of them was intellectual people (which mostly are teacher around five hundred thousand people)

4. A small community was formed up in the urban and lead by Mao. All private property have be abolish and become collective property, and villagers or farmers need to fulfill the productive objective set by party to get food, at the same time, money was abolish as well. In this situation, the farmer was not motivated and cause a low productivity, this is the causes of famine later on. To increase the productivity of all community, a competition  between community was introduced by Mao, and this is why Famine happen, as the data collected was a fake data, which only to satisfy and fulfill party targets.

5.In between 1959 until 1962, the crops which harvest was sent for paid debts, and each villager only left few kilo of crops for a year used, so that famine happen. In the same time,"Whose does not work shall not eat" principle was using in the urban area due to shortage of food. The priority of urban area which villagers and farmers was abolish to continuous support and save country economic development. In 1959, based on the food urban area have, Mao's announced the food purchased policy which 1 per 3 of food was takeover by government from the farmer. Government refused to open reserved food granaries for people which cause the number of people death in famine increased.

As conclusion. The Famine was caused by wrong policy or decision taken by government and it may let a country to in a worst condition which uncontrolled.

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The video that I chose was The Great Leap Forward (China).

1. Money is any asset that people are generally willing to accept in exchange for goods & services or for payment of debts. An economy function can without money. For example, during the Great Leap Forward. The foods and goods are distributed in a unified way by the government.

2.Barter trade has some limitations. For example, when the Great Leap Forward. The foods and goods are distributed in a unified way by the government. But not everybody really want to do the things that arranged by the government and need the things that distributed by government which called there need double coincidence of want.

3.Barter Trade lack of standard measure of value. Because different people may special in different work and skill. So it is very difficult to definite the value by goods for different jobs.

4.According this video why we need money as economy function Because money can makes exchange of good and services easier, and money allows people to specialise and become more productive.

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The Great Depression
( 1929 -1939)

1. The great depression is start from year 1929 and it persist almost 10 years. The great depression give big impact to economic in United State.  At that time, the economic, country development and population income are decreasing incisively. The unemployment rate also increase in United State. Due to the effect by United State, the global economic also get a big effect on The Great Depression.

2. Many investor or business man are force to loan or borrow the fund to solve the investment problems and pass this crisis of economic. Many middle or the lower income population become homeless and cannot incapable to make a living for themselves or even their families.

3. Money is important in life for survive. Money is uses to buy the good.

4. The effect of The Great Depression gradual change become better after almost 10 years in United State because the President Roosevelt and New Deal Programme. However, this effect persist more than 10 years at some low development country. These effect gradual disappear after World War 2.

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The video i choose is "THE GREAT DEPRESSION"
1.The Great Depression is the longest,and pervasive depression in American history, lasted from 1929 to 1939. Its effects all corners of the world and it is one of the great economic calamities in history.

2.When the economic turn into recession, all ppl rushing go to the bank to withdraw their money. Unfortunately，the bank is facing short of cash.

3. In order to continue survive in this depression, the people sold their house  to get some money to survive.

4. In conclusion, money is very important in our life. So, we should wisely use our money to prevent this crisis happen again.

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THE HISTORY OF INFLATION

In the video show Ludwig Von Mises said "When a government increase the quantity of paper money, the result is that the purchasing power of monetary unit begin drop and so price rise. This is called inflation.

I totally agree with the statement because when the central bank increase the quantity of paper money, we have many paper money but the price value of goods is increase unlimited and the power to purchase good and service will drop.

According to the video, John said government was issued the bond, and the people take money to central bank and open the account. Then, central bank will give the money to government. This way, the government collect the exist paper money from market. And the paper money will reduced. The value of money will increased and then the inflation issued will solved.

Not only that, John also mentioned about hyperinflation. Hyperinflation is a situation where the price are increase out of control. Many countries ever through this situation such as Canada. To avoid this situation, the Canada government was limit the paper money supply in order to keep the currency. The supply of paper money has decreased and interest rate was increasing. This stage will attract the investor to invest in Canada, so the currency will keep possession.

In my opinion, if hyperinflation is not control, the situation will happened like Zimbabwe in 2007. People need a big amount of money to buy one goods such as bread. And then, people will feel the paper money will became not value. When that happened, they can burn the money in order to warm their body.

To me, inflation is the serious problem to every country. It is because when the inflation occur, many people became unemployed. People like to make a loan at bank. When people became unemployed , the power of purchased has decreased, people don't have enough money to pay their loan with the highest interest rate. This situation will risk the bank.

The other effect of inflation is the country will loss the investor. When inflation happened, the interest rate was increased. Investor need to pay more for interest. So, investor will stop from invest. That will risk the central bank because money supply decrease. People will stop borrow the money from bank because bank don't have money to borrow to people and bank may stop from operation.

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The video I choose is [ The Great Depression 1929-1939).
1. I feel quite surprised that countries that are well-known nowadays have suffered in the past such as America and German.
2. During that moment, it occurred inflation in America which lead price level increased. It lowered the American's purchasing power, and therefore lowering the living standard. In addition to increasing sharply unemployment, many people were losing their job and their income. In order to survive, they rushed to bank to get their saving but unfortunately bank also faced problem of shortage in cash.
3. In the facing of this problem, they had no choice. They forced to sell their car, furniture, house and so on so that they could still be able to maintain their life. These were the most difficult time for American,
4. I quite admire their optimistic and bravery in this situation. Everything would be fine after the bad situation was gone. A new president who was trying to solve the trouble was being selected, the situation became good.
5. The new president had made his effort in changing America environment. First, he improved financial system by reopening bank so that people could get their saving when necessary. Additionally, he regulated business, helped farmer, built road and so on. He also increased payoff and job which could therefore decrease the level of unemployment.
6. Due to this effort, people started to appreciate American life. Level of unemployment decrease, income increase, purchasing power increase, and therefore their standard living also increase.

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Heng Mei JunThe video that I choose is THE GREAT DEPRESSION (1929-1939)                      1) It had caused many things to happen such as decrease the consumer’s spending ability, the output from industry dropped and the unemployment level had increased as many companies had bankrupt. For example, as we seen from the video Mariam Johnson’s father and his friends owned a grocery shop but because of The Great Depression, the crisis of economy they had to shut down the store.    2) Many people withdrew their cash deposits and forced the banks to liquidate the loans cause a wave of banking panics. It had caused people to lose confidence of saving money in the bank because this will take risk. From the video we know that George Kelly had saved thousand dollars but failed to get back even a ten cents finally he hanged himself.                         3) Franklin D. Roosevelt ended up the great depression in America with his “New Deal” which was help the sectors to recover from the crisis such as the unemployment problem and productivity of the output. From there, the economy of the country will increase.                 4) Money is very vital in our daily life. It is a medium for us to buy goods and service. When the crisis economy happened, it was very suffering as people don’t have money to buy the essential things and starving all day long. For instance, Clara Hancox’s father took all her money that she kept in a piggy bank to use because he had no money to continue survive.

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Heng Mei JunThe video that I choose is THE GREAT DEPRESSION (1929-1939)                      1) It had caused many things to happen such as decrease the consumer’s spending ability, the output from industry dropped and the unemployment level had increased as many companies had bankrupt. For example, as we seen from the video Mariam Johnson’s father and his friends owned a grocery shop but because of The Great Depression, the crisis of economy they had to shut down the store.    2) Many people withdrew their cash deposits and forced the banks to liquidate the loans cause a wave of banking panics. It had caused people to lose confidence of saving money in the bank because this will take risk. From the video we know that George Kelly had saved thousand dollars but failed to get back even a ten cents finally he hanged himself.                         3) Franklin D. Roosevelt ended up the great depression in America with his “New Deal” which was help the sectors to recover from the crisis such as the unemployment problem and productivity of the output. From there, the economy of the country will increase.                 4) Money is very vital in our daily life. It is a medium for us to buy goods and service. When the crisis economy happened, it was very suffering as people don’t have money to buy the essential things and starving all day long. For instance, Clara Hancox’s father took all her money that she kept in a piggy bank to use because he had no money to continue survive.

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Mao's Great Famine (great leap forward)

1.      The country is in a state of economic turmoil and has created an unprecedented famine, almost around 45millions people death. Mao has to overcome the traditions of an ancient society, state of mind, and the ancient way of life, he had to put an end to the famine and the ensuing suffering. In order to achieve the plan, Mao went to Moscow. China leaders admired the Soviet leaders and after two days they meet each others and both countries signed friendly treaties. The Soviet Union offers a large number of weapons, factories, industrial and agricultural equipment, as well as various consultants. This treaty guarantees China's dependence on the Soviet Union, because Soviet Union has given China a lot of help, China not only to continue to be affected by Moscow, and faithfully in accordance with the economic model, China has to repay the huge debts that have been signed.

2.      The first step of the Soviet model, the implementation of large-scale development of the Communist Party of China reform, half of the national arable land affected, there are 3 million poor peasants get profits. From 1949 to 1950 when the Land Reform was initiated. Were assigned a piece of land. After that had a good life for 2 years. The year of 1950 was still hard. But from 1951 to 1952 the peasants had a good life. They grew grain on their own land had enough food. That was before the state’s monopoly of the grain market.

3.      November 1957, Mao return to Moscow, but his long-time ally became his main rival, and when Nikita Khrushchew declared that Soviet economic production would exceed the United States in 15 years, Mao was challenged. He said that China's steel production will also exceed UK in 15 years. In the spring of 1959, Mao came another form of arrogance, the great helmsman in the next three years to produce one million tons of steel, due to the lack of iron and steel production, farmers are also very hard to contribute, they do their best make a small blast furnace. Nominally, China began to produce millions of tons of steel, but in fact, all produced are not used metal. At the end, tens millions of farmers non stop working for days and nights and at last it turned out it was a useless work. This is the mysterious progress indicator in the socialist world. The consequence is that the farmer really works to die. This is part of Mao’s strategy, and he thinks it is worth paying the cost of sacrificing the countryside in order to keep the city, industrial and political center.

4.      The distance between paddy seedlings, the type of seeds, the amount of fertilizer used. Apply to a crop of land, plant another crop. All the decision make by leadership and the leadership is ignorant, at the end it caused all farmers completely discouraged. The poor harvest caused the first shortfall, but Mao asked for more. In order to increase the agricultural production he asked the commune to compete with each other, the party awarded the ceremony to the most recorded people's communes, and the people's commune residents are a serious lack of food. Commune taxes paid on cereals are based on false numbers, and the real harvest of a region is almost entirely taken by the state. Even worse, the spring of 1959 was a disaster. That well-known debt, has been ready to use, China has buy hundreds of factories from Soviet Union. Mao asked to speed up repayment, although it meant that people in the rural would go hungry.

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(THE HISTORY OF INFLATION)
1. In the video, they mentioned about the crisis and hyperinflation that happen in many country in the past. Example such as Canada. The government limit to supply paper money to keep the currency. What can i related is that when the supply of money decrease, the interest rate will increase. Many investors like to invest to get a higher profit. So, the currency within a country will retain.
2. In normal situation, many people like to make loan. When economy become worst and inflation occur, many people become unemployed. Their purchasing power decrease. Many people don,t have enough money to pay for the high interest rate and the loan. So, bank have to take risk.
3. Based on the video, Norway's government always increased the salary and the salary keep raising rapidly in the past. The supply of the money increases in market. What i can related is that with a surplus of money holding, many people buy bonds. the price of bond increase due to increase in demand for bonds. Thus, the interest rate low.
4. When inflation occur, the value of the money decrease. Many investors stop invest money in the bank to avoid the loss. So, the supply of money decrease, interst rate increase. Many people stop borrowing from bank. Many bank have to stop their operation.

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The Great Leap Forward
- China had gone through a big crisis during the Great Leap Forward which was introduced by Mao.
- Many people died due to starvation (nearly to 30 million)
- Private land has gone and taken by the commune.
- People were urged to make steel as Mao thought that steel production would be the key for China development. However, the steel cannot be used as they had no quality at all. This method was a huge waste of resources and human labor.
- They also wanted to increase farmer output. But it cannot be accomplished as many people had move to indusrtry.
- Most people died due to lack of food and they were begging for food.
- As a conclusion,  we should make plans based on reality and economy in our country. We should not  gamble our country's fate as leader's mistake can lead to suffering.

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The Great Depression ( 1929 - 1939 )
1) This was the deepest and longest lasting economic which is the rate of economic growth is slowing down and possibly entering into recession in the history of the Western Industrialized World.

2) Levels of trade collapsed between countries. By 1932 the value of European trade had fallen to one- third of its value of European's most respected banking houses and currencies stumbled.

3) The main reason of the stock market to crash is because The Fed fund rates began raising.

4) Interest rates were being raised again, this incident preserved the dollar's value.

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Abdulrahman khaled

The great depression

The great depression was the worst economy catastrophe of 20th which had  been tormented Americans

It happened through many phases , it  did not happen over night ., the financial or the momentary phase which explain why it is began .

The wasteful. momentary policy from nineteenth twenty , from the federal Reserve System that had been created just years a go .which had made it the worst

The collapse of NYC stock exchange in 1929 was only the remarkable sign of tremendous economic crisis that spread quickly from wall  street to main street   , which has record essential valuations in spite of destroy economic conditions such as rising unemployment.

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The Great Depression

After watching the video, here is the 4points I do able to relate to Chapter 8 (Money, the Price Level, and Inflation)

1. Money is any asset that people are generally willing to accept in exchange for goods & services or for payment of debts. The economy could not function without money. As we can see in the video, the crisis of the economy forced  Clara Hancox's father took all her money in the piggy bank when she was just a child. Her father says sorry to her as he has no choice except of taking the money and continue to survive. Without money, the business between the consumer and seller could not work well, as they do not accept any valuable things other than money.

2. To continue surviving in the tough situation when the great depression is happening, citizens forced to trade their clothes, furniture, wedding rings and other things they have to get the money. As an example, the old man's father have to sell the house and land to have the money. They loss everything in a single day and forced to move out in 30 days.

3. As money is acceptable and has medium of exhange, everyone are eager to have it. The citizens save their savings in the bank but what happen when the great depression makes them fear of losing all their money. Hence, everyone is lining up infront of the shuttered down bank but still get nothing. This forces george to hang himself with depression after he get know that he could not get back even 10cent from his 5000 dollars of savings.

4. Due to the happening of the great depression, everyone try to leave the country to find their way out. According to the video, this is the first time the citizens leaving the country as fast as they can instead of other visitors coming in to the country. From the video, we knew that even bankers and professors also trying to get away to find a better future at other place. This has related to the importance of money in a country. A country that is out of money will force the citizens to move out and the value of the money will goes down.

No matter what, the great depression has ended. We should realise the importance of money and control the value of money as well as we can, to make sure the tragedi wont happen in Malaysia.

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The video that I choose is:
THE GREAT DEPRESSION(1929-1939)
1. It was the worst economics crisis depression experienced by the industrialized Western world. The Great Depression caused the stock market crash and depositors rushed to take out their money from banks.
2. Purchasing power reduced and people stopped purchasing items and this led to a reduction in the number of items produced.
3. Thus a reduction in the workforce caused people lost their jobs. It was a sharp rise in unemployment. They were unable to saving money or investment or spending.
4. Also the natural disasters, dust storms, or “black blizzards” caused million people had abandoned their farms in this “Dust Bowl” and raised unemployment rate, I think this is also the significant to the depression in that time.

MONEY, as a medium of exchange and store of value is important to our daily life. It almost become our NEEDS. Without money, we cant buy anything and it is hard for people to survive.

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Mao's Great Famine  （great leap foward)

In order to achieve the great leap forward plan, Mao Zedong went to Moscow, to ask for financial assistance to Stalin, and consolidate the strategic alliance with the Soviet union. Two countries signed a treaty of friendship. The Soviet Union will provide China with a large number of weapons, factories, industrial and agricultural equipment, as well as various consultants. Therefore, China not only continue to be affected by Moscow, but also need to follow their economic development plan, and repayment of the huge debt has been signed.

1 )On the economic front, large-scale agricultural reform implementation of the Communist China, so land redistribution is a chance for the farmers, hence the enthusiasm of the farmers shall rises and relatively increased the productivity, it will also increase the GDP in China, it is a way to boost economic development in China.

2) Communist China adopted a reform: the farmers to eat in the cafeteria community, which in some places or even cancel the usage of money, to establish a system of 'work points'. According to the score to allocate food to see how many people meet the production goals, the concept of wages disappeared. Hence no one was motivated. Productivity was very low. That was one of the reasons for low grain productivity，and this will affect the economic development in China.

3 ) Agriculture and industry all over the country, production figures are forged to meet or even exceed the goals set by the Communist China. The consequence is that the tax paid by the commune on grain is based on a false figure, and in some cases the real harvest is almost all taken away by the state to pay the huge debt. (The debt is the hundreds of factories that have been built to be used from the Soviet union.)  Beijing's promise to pay back to Moscow in the form of agricultural products, Mao Zedong asked to accelerate the repayment, although it means that people will starve in the countryside. Therefore, the false situation is serious on that time, it will make the economic losses, and slow down the economic development.

4) Mao Zedong request the production of one million tons of steel in the next three years, due to lack of iron and steel production, farmers have to make a contribution. At that time, Mao Zedong advocated national steelmaking, increase the iron and steel production, to reduce the gap with western economy, it is joined the national steel, they even put tools, plus the most concentrated steel that abandoned agriculture side, so that the national economy has suffered a serious setback, people's lives are greatly affected by famine and starvation of millions of people. This will slow down the economic development in China.

Economic is an important subject that directly links to the living standard of a country's nationals. Any wrong economic decision made by the country leaders must be a disaster. Hope that the Chinese never forget such a big lesson that costs them the lives of 30++ million nationals.

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Amal Ikhwanuddin

The Great Depression (1929-1939)
1. A great country like America and Germany had gone through a big crisis at that point of time which lasted for about 10 years until they can recover from the crisis they suffered.

2. The stock market crash, bank failures, poverty and unemployment are some of the factors that causes the great depression to happen during that period of time.

3. The great depression was ended in america by Franklin D. Roosevelt with his "New Deal" that helps many sectors in order to recover from the crisis it had been suffering from.

4. A great depression could be a valueable lesson in economics world as it tell the world what are the causes that could lead to a massive crisis and also what are the ways in order to solve a crisis.

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The video that i choose is
'' THE GREAT DEPRESSION'

1.      Despite being the world’s largest national economy in the present, The United States once faced a serious economy crisis which is The Great Depression that lasted for 10 years from 1929 to 1939 as mentioned in the video.

2.      When the economic downturn occurred, people were fear of losing all their money, they rushed to the bank to withdraw their savings, but the banks were short of cash and consequently shutdown of banks were caused and millions of accounts were distinguished.

3.      This dark economic time of The United States had led to many consequences during this 10 years, including poverty, unemployment that was getting worse throughout the crash, declining production by farms, etc. It had caused so many impacts to the people’s lives.

4.      The Great Depression was ended when Franklin D. Roosevelt was elected as the new president and the New Deal was signed into law which was designed to create jobs, allow unionization and provide unemployment insurance.

As a conclusion, money is so significant and economy crisis is so horrible that it can affect people’s lives. All of us should learn from the mistakes from the past and never make them again to promise a better future.

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The video i choose is "The history of Inflation"

- Ludwig von Mises say that 'When a government increases the quality of paper money, the result is that the purchasing power of the monetary unit begins to drop, and so prices rise. And this called Inflation.' This sentence mean that when government that is Central bank produce more paper money and increase the money in the market. The people in market have more cash but the number of the good is remain unchanged. Because of the cash in hand is more than the quantity of the good, the people was willing to pay more to get the good and it make the price of good increase. This is called inflation. We also can follow the demand &supply theory, when the demand of a good is more than the supply of the good, the prices of the good will rise. In this situation will make the value of the money become worse.
- Hyperinflation is when the prices of goods and services rise more than 50 percent a month. The severity of price increases distinguishes it from the other type of Inflation. From the video ,John have say an example that is in Zimbabwe. In year 2007, the currency of the Zimbabwe is in the normal price level. But start from 2008, the people in Zimbabwe become 'Millionaire' or 'Billionaire'. They need to the big amount of money to buy a normal or a necessary this such as bread and other. Sometime, they use barter approach to replace the use of the money. Because of the Zimbabwe's government   stopped filing official inflation statistics and keep print its currency make the number of the paper money in the money increase. This make the Zimbabwe face the Hyperinflation problem.
- When hyperinflation, the low value of the money. From the example in the video, the people burn the money to keep warm when in war, and we can saw that the worker swept a lot of money beside the road.
- From the video, John have mention the government can issued the bond, people can take the money to central bank to open an account, then the central bank will pass the money to the government. Government can collect the exist money in the market through this way to decrease the number of paper money in market and this can increase the value of the money. Issued bond can solve the inflation problem of a country.

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THE GREAT DEPRESSION (1929-1939)
1. I really surprise and feel sorry that americans had suffered those hard time during 1929 - 1939.
2. United States went into economics recession which leads to unemployment, poverty, plunging farm income and slow down the economics growth. I start realised that money is very important to us.
3. As the video shows many Americans rushed to withdraw their deposits in bank. As a result, bank run was happened.
4. I think Fed must take action to control this situation. For example, the Fed influences the quantity of money by setting the required reserve ratio, making the last resort loans and by conducting open market operations.

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The video that i interested in is "the history of inflation"

In the beginning part of the video, the economist Ludwig Von Mises said that "When government increase the quantity of paper money, the result is that the purchasing power of the monetary unit begin to drop, and so prices rise. This is called inflation." I very agree this statement, when the central bank print a lot of money and use is to buy government securities, although the total money in the country was increased, but the value of these still the same because the price of a goods is equal to total money divide by total goods in a market, when the total money increase but total goods remain the same, the result is prices of  every goods will increase, inflation happen.

In the video, John show that in history, some of the countries have very big amount of money such as 5 billion in a paper, but what actually value of the money is very small.

Inflation also happen seriously when war. During the war, the goods are more valuable than money, people have a lot of money but very little of goods, so they able to pay a big amount of money to buy little goods, so inflation happen. In 1945, German burn money to get warm, can imagine how small the value of money are during war.

In conclusion, value of money in modern world is getting lower because increase of paper money.

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ILAKIYA

1. THE GREAT DEPRESSION (1929-1939)
- i was really quite surprise that a country like USA has gone through these kind of crisis, thats the reason why i choose these video.
2.  It was said in the video  that the only visible sign to these massive economic crisis was because of the collapsed of New York stockexchange.
3.The crashed of the stockmarket leds to many failures. Some of the bank were forced to close because of the crash of the stock market.
4. People start to get panic and rushed to withdraw their savings and this causes more banks to shut down.
5. HOW THEY GET RID OF THE GREAT DEPRESSION
- newly elected president...introduced a program namely NEW DEAL..where it consisit of 3R S' Relief, Recovery and Reform..and they fought with the crisis aggrresively.

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sorry for my posted  before, that only for tested.

i state to the last video which is "the story of inflation"

the interesting part is when they talk about central bank,one thing come to my mind, "supervisory powers" means that that refers to the power of oversight over an inferior body. and also discuss about future exchanges. he's mention that, financial exchange where people they can trade standardised the future contract.

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Dr. Ema Zull

1. My personal favourite inflation story is The Great Leap Forward & The Great Famine in China.

2. It told about the policy put forward by China's Mao Tze Tung in order to make China the biggest iron maker in the world.

The Policy, named as the Great Leap Forward was done in the communism setting.

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Mao's Great Famine HDTV great leap foward, history of china