General Notes Pt.1 Flashcards
The Red Scare:
The First Red Scare, which occurred immediately after World War I, revolved around a perceived threat from the American labor movement, anarchist revolution, and political radicalism that followed revolutionary socialist movements in Germany and Russia during the 19th–early 20th century.
Main Reasons for GD:
The main reasons for the Great Depression were the 1929 stock market crash, which was fueled by overvalued stocks and excessive speculation, leading to bank failures and a sharp decrease in consumer spending, further worsened by tight monetary policies and the gold standard that limited the ability to increase the money supply to stimulate the economy
Bull vs. Bear Market:
A bull market is when stock prices are rising, while a bear market is when stock prices are falling.
Margin Call = What?
A margin call is a request from a brokerage firm to an investor to add cash or securities to a margin account after the account’s value falls below a certain level
Black Thursday and Tuesday:
Black Thursday and Black Tuesday were two days in late October 1929 that marked the beginning and end of the Wall Street Crash, also known as the Great Crash
Thurs: Oct. 24
Tues: Oct. 29
What was a bank run?
A bank run is when a large number of customers withdraw their money from a bank at the same time, often due to concerns about the bank’s financial stability.
What was credit and installment?
“Credit/installment” during the Great Depression meant buying goods by borrowing money and paying it back in regular installments over time, essentially allowing people to purchase big items like cars or appliances with a small down payment and then paying off the rest in monthly payments, which was a common practice in the 1920s that contributed to the economic crash when many people couldn’t keep up with their debt repayments.
What were hobos?
During the Great Depression, hobos were migrant workers who traveled from place to place in search of work
What caused the dust bowl?
The Dust Bowl, during the Great Depression, was primarily caused by a severe drought in the Great Plains combined with poor farming practices like over-plowing, which stripped the land of its natural grasses, leaving the topsoil vulnerable to being blown away by strong winds, creating massive dust storms; essentially, a combination of extreme weather and destructive agricultural techniques led to the disaster.
What were “rail riders”?
“Rail riders” during the Great Depression were people, often unemployed and desperate for work, who would illegally hop onto freight trains to travel across the country in search of jobs, essentially hitchhiking on trains without paying a ticket, often referred to as “hobos.”
What were the bonus marchers?
“Bonus Marchers” during the Great Depression refers to a group of World War I veterans who marched on Washington D.C. to demand immediate payment of a promised bonus for their military service, which was supposed to be paid out much later, due to the desperate economic situation during the Depression; they were also known as the “Bonus Army.”
What was Repatriation?
“Repatriation” during the Great Depression refers to the forced or coerced return of large numbers of Mexican immigrants and Mexican Americans back to Mexico, primarily due to widespread unemployment and anti-immigrant sentiment in the United States, where many were pressured to leave the country, even if they were American citizens; essentially, a mass deportation campaign targeting people of Mexican descent.
