https://padlet.com/devlerh/q9z3ni6ezb0t6qki GNED1119 - Assignment 2 en-us 2021-03-23 01:20:02 UTC 2024-05-25 20:56:35 UTC hello@padlet.com https://padlet.net/icons/png/1f60e.png devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1340953408 Written by Devin Heyduk & Brianna Ouellette]]> 2021-03-23 02:37:45 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1340953408 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1340962487 The great depression happened because of a devastating stock market collapse that sent ripples of recession across the planet. One of the countries that were affected most was Canada. Because of this, many Canadians were left jobless, hungry, and in some cases, homeless. The great depression is the very reason for social services creation and is still used to this day. By the year 1933, Canadas Spending had dropped by 40 percent. Spending wasn't the only thing affected during these times: Birth rate, immigration, and exports were also affected drastically.  It wasn't until World War II that employment rates finally started increasing again. In essence, World War II was one of the main reasons Canada was able to resuscitate the economy, pulling us out of the great depression.

I chose this website because it had a great deal of information on the effects of the great depression in Canada. Something I found interesting was that the thing that pulled Canada and many other countries out of the great depression, was in fact World War II. ]]> 2021-03-23 02:41:37 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1340962487 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341070660 This website provides information about the market crash in '08 like how it happened, why it happened and the effects of it. The market crash in '08 happened because lenders became more lenient with their lending standards to extend credit to those less qualified; this resulted with lots of people taking out loans they couldn't afford and then this caused housing prices to escalate to where people could not afford them.

This website was chosen because it gives a very good summary of what happened in '08 to where even people who don't understand the stock market all that well can understand what had happened back then.]]> 2021-03-23 03:33:24 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341070660 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341101418 This website describes the effects of the collapse in Canada, and Canada vs. US banking comparing what happened to them and what we had done differently. They mention that unlike the US, Canada's banking system was created as a system of large financial institutions where their size actually helped them in the long run; this website also mentions that the US has been experiencing bank failures since the 1930s whereas Canada has had no such thing. Although Canada's economic collapse was as traumatic as the US's, none of our banks failed like theirs.

I chose this website because although we know what happened in the US with the Market Crash, it's important for us as Canadians to know how it effected us.]]> 2021-03-23 03:49:36 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341101418 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341121268 2021-03-23 04:02:27 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1341121268 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345635431 The great depression was by far the worst and longest recession in the industrial age to this date. The stock market collapse happened because in the 1920s, there was exponential economic growth. This lead to America doubling its national wealth. Because of this, many people started investing into stocks. By the year 1929, production started reducing which in turn increased unemployment, leaving the stock market as a whole, extremely overvalued. Despite things taking a turn for the worse, the stocks continued to climb until eventually it all came crashing down. On October 24th, 1929, anxious investors began to dump their overvalued stocks all at once. On the day known as "Black Thursday",  12.9 million shares were sold which only induced more fear, and in just 5 days later, resulted in "Black Tuesday" with another 16 million shares sold. Because of this, millions of shares were deemed worthless, leaving many investors wiped out completely and the average person broke. Many people were forced to rely on credit cards and to go in debt. By 1930, industrial production was approximately cut in half and people began to wonder if banks could be trusted with their money, so everyone withdrew all their savings. The banks didn't have enough money to pay everyone back and had to start liquidating loans to pay off the deposits. This continued over the next 3 years. As you can see, this is a short list of the many events that lead to a catastrophic domino affect.

I chose this website because it was very informative on the events that lead to the stock market crash that caused the event known as "The Great Depression". One piece of information I found useful was that it wasn't solely one thing that lead to the recession. It was a large amount of things that built up over just a few years.]]> 2021-03-24 00:22:02 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345635431 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345777513 The great depression was a world wide recession that put many countries greatly in debt. It started in 1929 because of a stock market collapse and lasted until the late 1930s. By 1932 American stocks were only worth 1/5th than they were, in 1933 half of all banks closed their doors forever, and 750 thousand farms were lost due to bankruptcy, and financial issues in 1935. Every country was greatly affected, including Germany. Germany had a 25 percent unemployment rate and It's believed that this is what gave Hitler and the Nazi Government Party their chance to become elected which ultimately led to World War II and many horrendous war crimes.

This video was chosen, because it gave a lot of interesting information all in under a minute. Something that I found informative is how Hitler was able to win the election and come into power all due to the stock market crash, which resulted in the great depression.]]> 2021-03-24 01:10:22 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345777513 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345902667 In the year 1918, World War I had just ended 4 years prior, and America is going through cultural change, and economic growth as it enters into the 1920s (the roaring 20s). Soldiers had just came back from the war, production and projects are reviving again and everything is going fantastic. Technology is making great advances such as the radio and other house hold appliances. Because companies were making so much money they started paying their employees more who then started investing into company stocks, and getting loans from banks to buy more stocks. Banks eventually began to borrow money from their clients and started investing in stocks as well. As stocks continued to climb manufacturers decreased in production and sales because companies had over estimated their own growth. As mentioned in a previous post this is what gave way to the market collapse. Over time investors began to second guess the market and On "Black Thursday", a news paper released a headline that said "Prices of stocks CRASH in Heavy Liquidation." Which set the path of a downward spiral as soon as markets opened.

I chose this video, because it gave some additional information that I had not yet encountered. Something I learned was the minor but interesting details of why the stock market collapse happened that were simply overlooked in previous videos and websites.]]> 2021-03-24 01:54:18 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1345902667 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346001551 1. What did you learn about the topic that surprised you most?

Devin: The thing that surprised me the most was the fact that the great depression lasted for about a decade and the only thing that repaired the economy, was the beginning  of World War II.

Brianna: That the failure of banking in the US could affect the whole world like it did. It's kind of scary.

2. Provide a real-life example of how this topic is relevant or interesting for you.

Devin: Back in 2008, I remember there was a recession and it was stated that it was almost as bad as the great depression. At the time I was really young but was always curious as to how stocks and the economy worked and the causes for a recession.

Brianna: We've already had people playing with a stock market during covid, big example being GameStop.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

Devin: It would be to never get a loan to invest, or don't invest with your money that you can't afford to lose.

Brianna: Make sure that whatever loan you're getting or mortgage, you can actually pay it back when it comes time.]]> 2021-03-24 02:32:21 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346001551 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346020143 2021-03-24 02:39:45 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346020143 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346056892 2021-03-24 02:54:20 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346056892 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346070170 2021-03-24 03:00:29 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346070170 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346081773 This is a photo that shows how tough times got not long after the market collapse. Unemployment rates skyrocketed, America had a 25.6 percent unemployment rate and Canada had a staggering 30 percent! ]]> 2021-03-24 03:05:59 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346081773 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346088775 This video is as it's titled: it's a 5 minute history lesson of the Financial Crisis. Despite the short length of the video the information relayed is super thorough and helps give you a better understanding as to what happened in '08. Basically investors were looking for a new way to make money so they looked towards mortgages, but little did they know by doing this it would later cause the whole stock market to collapse, not just in the US but all over the world.

I chose this video because as I had previously stated, it's a good way to get a better understanding of what actually had caused the market crash in '08.]]> 2021-03-24 03:09:32 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346088775 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346089668 This video is a compilation of news channels, prominently in the US and the UK, going over how well the stock markets were doing before the crash, and then going over and showing how much they dropped and how quickly. It really is chaotic and is unfortunate that the effects of what happened in the US hit countries all around the world as well.

I chose this video because it's one thing to hear about what happened in '08 but it's a whole different thing to actually see it happening because you can see how stressed and panicked these people are.]]> 2021-03-24 03:09:58 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346089668 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346090449 This is a photo of a graph showing the drop and the timeline of what had happened with some nice little imagery to go along with it. This photo mentions the Lehman Brothers filing for bankruptcy much like the video by The Plain Bagel did.]]> 2021-03-24 03:10:22 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1346090449 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350547789 2021-03-25 00:06:16 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350547789 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350554330 2021-03-25 00:09:13 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350554330 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350565615 2021-03-25 00:13:54 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350565615 briannaouellette https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350571939   VVV]]> 2021-03-25 00:16:33 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350571939 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350979638 2021-03-25 02:49:24 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1350979638 devlerh https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1351051024 2021-03-25 03:20:08 UTC https://padlet.com/devlerh/q9z3ni6ezb0t6qki/wish/1351051024