Remake of 1930s Depression v. 2008 Financial Crash by Edwin Juarez Esparza https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1 Let's compare these Economic Events en-us 2024-04-10 12:44:49 UTC 2024-04-15 12:26:15 UTC hello@padlet.com https://padlet.net/icons/png/1f4a1.png both were very large financial crashes that caused several businesses, even large ones, to go bankrupt https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949523401 2024-04-10 12:52:21 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949523401 the one in the 1930s was caused around the stock market, while the one in 2008 was mostly linked to the retail/housing market and morgages https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949525217 2024-04-10 12:54:02 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949525217 the 2008 great recession lasted from 2008 to 2009 (about a year and a half), while the great depression lasted from 1929-1941 (12 years) https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949532656 2024-04-10 13:00:14 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949532656 Both happened because of the risky investments that were made, because of how confident the people was that the prices of the houses and stock were going to continue going upwards edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949536152 2024-04-10 13:03:09 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949536152 In both situations, people freaked out, and started to save more money, and because there wasn't money flowing, the economy got stuck edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949538381 2024-04-10 13:04:51 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949538381 the great depression was somewhat caused by over production yet a lack of consumption of consumer goods, and the great recession was caused by many people not paying their mortgages and thus losing their house yet despite the large amount of available housing this cause not enough people were buying houses which was major factor that lead to the great recession https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949539887 2024-04-10 13:06:09 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949539887 Real GDP plummeted by 31% and the level of prices decreased by 22% during the 1929–1933 Great Depression. During the recession of 2008–2009, real GDP decreased by less than 4 percent as price levels increased gradually. edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949545809 2024-04-10 13:09:50 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949545809 Causes: Great Depression started with the 1929 stock market crash; 2008 crisis stemmed from the housing market collapse. https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949552133 2024-04-10 13:13:21 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949552133 edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949557071 2024-04-10 13:17:01 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2949557071 The U.S. government response to the Great Depression of the 1930s included the New Deal policies initiated by President Franklin D. Roosevelt. These policies aimed to stimulate the economy through public works projects, financial reforms, and social welfare programs. edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950489871 2024-04-11 03:56:34 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950489871 During the 2008 financial crisis, the U.S. government responded with various measures, including the Troubled Asset Relief Program (TARP), which provided financial assistance to banks and other financial institutions. Additionally, the Federal Reserve implemented monetary policies such as quantitative easing to stabilize the financial system and stimulate economic growth. edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950490048 2024-04-11 03:56:46 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950490048 https://www.sanders.senate.gov/wp-content/uploads/Too-Big-to-fail-leg-summary.pdf edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950490374 2024-04-11 03:57:06 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950490374 Responses: Great Depression saw the New Deal; 2008 crisis had TARP and Fed interventions. edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950496563 2024-04-11 04:04:36 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950496563 Global Impact: Great Depression affected the world deeply; 2008 crisis had global consequences but was more focused. edwjua4736_ https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950496679 2024-04-11 04:04:47 UTC https://padlet.com/edwjua4736_/lcjjzgbbjgog9gj1/wish/2950496679