Friday, November 21, 2008
The 'Great Depression' was a period in United States History when business was poor and many people were out of work.
That was the simplified version.
There are many good articles on The Great Depression
that cover a fairly detailed description. All
stories offered seem to include hard times.
Close family friends - when I was young -
shared a recipe with my Mom (correct me
if I'm wrong, Mom. I know you're reading this.
Is this a similar recipe?).
Goofy Cake? Or, was it Whacky cake?
It had a few of the key ingredients
of typical cake left out due to availability and/or
cost of the item at that time.
1929 was the year that thousands of investors
lost large amounts of money and, basically,
everything (including their shorts) when the stock
market dropped quickly. Called the "..longest and
worst period of high unemployment and low
business activity in modern times.." by some. The Wall Street Crash
happened when people realized that share prices had risen
too high and companies profits were falling as a result
of mass (over) production.
If you consider the sales of just vehicles in the
U.S. ...
...to the sales "projected" to guide production...
You see that the auto industry has been
making more than they are selling.
OR, better yet, look at the stock market drop
in 1929 and compare it to ...
...this year's stock market drop(s)..
...would you be surprised at the similarities?
We may not be in for an easy ride for a
few years to come, but this country could use it
to realize what we really have. Maybe we would
want less when we can appreciate some of the
small things in life that seem to be wasted details.
Our new President-elect, Barrack Obama, has
a great weight on his shoulders to actually
produce results from his promises. I'm not
saying that Senator McCain would have it all
straightened out - or, anyone for that matter.
Will our new President be blamed for the hard
times to be faced as President Hoover was?
An empty, inside-out turned pocket
became known as the "Hoover flag".
Forming a realistic outlook seems to be
completely out of America's grasp. Lets
just hope we can keep our heads above water.
Those that can remember the Great Depression
from their childhood can, probably, remember
great opportunities that followed the hard times.
The opportunities that allowed two generations
before me to build this country strong and
wealthy enough that we don't have any idea
what "nothing" is. They knew it first hand.
My children (and theirs) may have to learn
the true meaning of "nothing" all over but,
have we taught them how to put potatoes
in the cellar for a long, cold winter?
Our country - great as it is - has shown us
a wasteful, wanting way of life. Credit is
no life raft to float the economy.
Our job as parents just got tougher.
I'm going to go make a Whacky cake and
count out my penny jar...
There are many good articles on The Great Depression
that cover a fairly detailed description. All
stories offered seem to include hard times.
Close family friends - when I was young -
shared a recipe with my Mom (correct me
if I'm wrong, Mom. I know you're reading this.
Is this a similar recipe?).
Goofy Cake? Or, was it Whacky cake?
It had a few of the key ingredients
of typical cake left out due to availability and/or
cost of the item at that time.
1929 was the year that thousands of investors
lost large amounts of money and, basically,
everything (including their shorts) when the stock
market dropped quickly. Called the "..longest and
worst period of high unemployment and low
business activity in modern times.." by some. The Wall Street Crash
happened when people realized that share prices had risen
too high and companies profits were falling as a result
of mass (over) production.
If you consider the sales of just vehicles in the
U.S. ...
...to the sales "projected" to guide production...
You see that the auto industry has beenmaking more than they are selling.
OR, better yet, look at the stock market drop
in 1929 and compare it to ...
...this year's stock market drop(s)..
...would you be surprised at the similarities?We may not be in for an easy ride for a
few years to come, but this country could use it
to realize what we really have. Maybe we would
want less when we can appreciate some of the
small things in life that seem to be wasted details.
Our new President-elect, Barrack Obama, has
a great weight on his shoulders to actually
produce results from his promises. I'm not
saying that Senator McCain would have it all
straightened out - or, anyone for that matter.
Will our new President be blamed for the hard
times to be faced as President Hoover was?
An empty, inside-out turned pocket
became known as the "Hoover flag".
Forming a realistic outlook seems to be
completely out of America's grasp. Lets
just hope we can keep our heads above water.
Those that can remember the Great Depression
from their childhood can, probably, remember
great opportunities that followed the hard times.
The opportunities that allowed two generations
before me to build this country strong and
wealthy enough that we don't have any idea
what "nothing" is. They knew it first hand.
My children (and theirs) may have to learn
the true meaning of "nothing" all over but,
have we taught them how to put potatoes
in the cellar for a long, cold winter?
Our country - great as it is - has shown us
a wasteful, wanting way of life. Credit is
no life raft to float the economy.
Our job as parents just got tougher.
I'm going to go make a Whacky cake and
count out my penny jar...
6 opinionated prattle:
What a great pleonastic posting. Even with graphs. Speaking of that, I thought the most interesting was the comparison between car sales and bicycle sales. You think the "Green Movement" had something to do with this drastic increase. Those that experienced the "Great Depression" are our senior citizens today. Did you ever notice they seldom throw anything away and always have a few extra groceries put aside, a trait they learned during the depression. As a very young kid, I can remember the "grown-ups" talking about the depression and what they did. The days that the banks closed was written in my dad's diary and again when they opened. Tough times and shortly after the recovery, into World War II. No wonder it is called the "Great Generation". I am still trying to figure this "recession" out, whether it is mentally made up because we are being barraged by all news media with the fact that we are in a recession or is an adjustment period of the unknown during the national elections. No doubt,the big banks have been in trouble for a long time due to Freddie Mac and Fannie May. Real estate sales are down in the area but no more than what we experienced in 1986 / 1987. Still seem to be jobs for those that want to work and cost of living has increased a few percentage point but due more to high fuel costs earlier in the year. Today, on the morning news, it showed a line of people that stretched approximately three blocks if it were a straight line, waiting for a store to open to they could buy the latest innovated cell phone. No lines at a grocery store or food line as far as I know. Makes one ponder.
0900, Sunday, Football, One pot of coffee gone, Football, pote4ntially a fudge making day, football, nap, snow plowing ~ oh, I forgot this was suppose to be a weather advisory. Be aware that within a few minutes you will be getting snow. We got dumped on last night after midnight, almost an inch fell, I would be plowing right now but the little lady has not shoveled the deck off nor a path to the snow plow.
0910 oops, a second snow storm has swept down upon us, undetected on the Doppler. A very good football, nap, and fudge making day.
To your first comment :
I HAVE feelings, you know. But, maybe the post title was enough? That is about all our kids get in school pertaining to that era. A good example of pleonastic (in the event it is too big a word for some readers) is:
http://hyperboleprattle.blogspot.com/2008/11/winter-night-prattlin.html
There I go, again. Redundant use of words to explain prattle.
I just started taking a class on the market and the first thing we discussed was the difference between the market crash that brought on the Great Depression and this most recent decline.
What they were saying is the Great Depression was brought around by people borrowing to buy stocks believing they were safe. Unfortunately they weren't and as people took small losses they defaulted on those loans and there was nothing for the banks to repossess.
It took approximately 30 years for the stock market to recover. With this market decline it started back when people starting getting loans for homes they could not afford due to the adjustable rate on their loans. As those rates rose so did the fore closures. As people defaulted on their home loans lending partners starting to take huge losses because of the money they had invested through that equity.
So the big difference in the two declines is that now lenders at least have some property to resell and make some money back whereas they had nothing in the Depression.
You were right in your post as to us having to cut costs and learn on how to not be wasteful. it is a lesson we just never been taught.
Just as a side note that in every decline since the 1930 stock market crash we have reached pre decline levels within two years.
It will be interesting to see how Obama will do.
Good to read your blog, even if I'm a few days late - circumstances. And your right about the cake - it was Goofy cake- and all the expensive ingredients were left out. But, oh was it delicious. Haven't had it for a long time, should make one soon, for old time sake.
Love, hugs and Kissssssssssssss! Mom
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