Remake of 1930s Depression v. 2008 Financial Crash by Jackson Welch

5 similarities

jacwel8342 — 2024-04-10 12:54:22 UTC

10 differences

jacwel8342 — 2024-04-10 12:54:32 UTC

Provide an answer in that column for what the u.s did to respond to the crisis(executive actions, laws, new regulations, bailouts ect)

jacwel8342 — 2024-04-10 12:55:58 UTC

Find 1 primary source per event and paraphrase a quote from the document/individual

jacwel8342 — 2024-04-10 12:56:57 UTC

Great Depression

jayfin4499 — 2024-04-10 12:57:35 UTC

After election, Congress approved President Roosevelt's New Deal which provided $41.7 billion in funding for domestic programs such as work relief for unemployed workers.

The debt in 2008 for everything was much more than 1920

jacwel8342 — 2024-04-10 12:59:14 UTC

jayfin4499 — 2024-04-10 13:00:35 UTC

Congress passed the American Recovery and Reinvestment Act of 2009, which included $800 billion to promote economic recovery. The Recovery Act assigned GAO (Government Accountability Office) a range of responsibilities to help promote accountability and transparency in the use of those funds.

the 1920 crises lasted several years while the 2008 crisis only lasted a few months.

jacwel8342 — 2024-04-10 13:06:48 UTC

there was much less of an impact in the 2008 crisis compared to the 1920 crash.

jacwel8342 — 2024-04-10 13:07:35 UTC

the crash in 2008 started due to a mortgage crash

jacwel8342 — 2024-04-10 13:09:09 UTC

jayfin4499 — 2024-04-10 13:09:17 UTC

Both periods were marked by high volatility

jayfin4499 — 2024-04-10 13:09:48 UTC

Both had huge economic slumps

jayfin4499 — 2024-04-10 13:10:39 UTC

Both wiped out very large amounts of equity

The 1920 crisis was started due to a fall in stocks

jacwel8342 — 2024-04-10 13:11:33 UTC

during the 1920s the unemployment rate was 25%

jacwel8342 — 2024-04-10 13:12:13 UTC

the crisis in 2008 had an unemployment rate of 10%

jacwel8342 — 2024-04-10 13:12:34 UTC

jayfin4499 — 2024-04-10 13:13:16 UTC

Both caused a collapse in international trade

during the 2008 crisis the government slashed interest rates

jacwel8342 — 2024-04-10 13:13:31 UTC

jayfin4499 — 2024-04-10 13:13:37 UTC

Both caused an increase in housing prices

during the 1920 crisis the government increased interest rates

jacwel8342 — 2024-04-10 13:14:17 UTC

The crisis of 2008 was resolved much quicker than the one in 1920

jacwel8342 — 2024-04-11 12:30:58 UTC

October 18 1931, president hoover talking to the united states through the radio. "The depression has been deepened by events from abroad which are beyond the control either of our citizens or our Government."

jacwel8342 — 2024-04-11 12:34:30 UTC

On February 18 2009 at Dobson high school the president comments on the crisis by saying "It's a crisis that strikes at the heart of the middle class: the homes in which we invest our savings and build our lives, raise our families and plant roots in our communities."

jacwel8342 — 2024-04-11 12:37:14 UTC