- Apr 2023
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www.kanopy.com www.kanopy.com
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Aby Warburg died of a heart attack52:41 on the 26th of October, 1929,52:45 at the age of 63.
Aby Warburg, scion of a major banking family died on October 26, 1929, just two days before Black Monday on October 28, the stock market crash which marked the end of the "Roaring Twenties" and the beginning of the Great Depression.
Could family influences or changes at that time have caused small, but underlying issues relating to the crash at that time? What was the reaction of the Warburg family on early Monday the 28th?
Aby, as the oldest, would have inherited the bank, but by arrangement with his younger brother in their youth apparently gave it to his brother in exchange for books.
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- Feb 2023
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socialsci.libretexts.org socialsci.libretexts.org
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Great Depression ushered in the election of Franklin Delano Roosevelt in 1932
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- Oct 2022
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teachingamericanhistory.org teachingamericanhistory.org
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To meet our domestic emergencies in credit and banking arising from the reaction to acute crisis abroad the National Credit Association was set up by the banks with resources of $500,000,000 to support sound banks against the frightened withdrawals and hoarding. It is giving aid to reopen solvent banks which have been closed. Federal officials have brought about many beneficial unions of banks and have employed other means which have prevented many bank closings. As a result of these measures the hoarding withdrawals which had risen to over $250,000,000 per week after the British crisis have substantially ceased.
Hoover provided support for the banks in crisis, trying to stabalize the withdraws and panic
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There has been the least possible Government entry into the economic field, and that only in temporary and emergency form.
He's trying to limit the amount of federal control and only trying to promote the help of state and local government.
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These measures have served those purposes and will promote recovery.
Hoover didn't really DO anything; FDR was the one who made sure everything was in order, all the groups and laws he made. Hoover on the other hand, didn't. He just provided for some public work projects and helped a little, but definitely not as much as FDR. He should've done more.
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But of highest importance was the necessity of cooperation on our part to relieve the people of Germany from imminent disasters and to maintain their important relations to progress and stability in the world.
Why was Hoover so stuck on helping Germany? Yes, it is the right thing to do, and to support Germany as it struggles, but our country was facing an economic panic; why help others with resources we desperately need ourselves?
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As our difficulties during the past year have plainly originated in large degree from these sources,
I find it odd how Hoover is blaming almost everything on other countries instead of taking accountability and doing something about it. He's using a victim perspective instead of fixing it.
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- Aug 2022
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www.vox.com www.vox.com
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With few exceptions, most market democracies have recovered from the 2008 financial crisis. But the public has not recovered from the shock of watching supposed experts and politicians, the people who posed as the wise pilots of our prosperity, sound and act totally clueless while the economy burned. In the past, when the elites controlled the flow of information, the financial collapse might have been portrayed as a sort of natural disaster, a tragedy we should unify around our leadership to overcome. By 2008, that was already impossible. The networked public perceived the crisis (rightly, I think) as a failure of government and of the expert elites.
Martin Gurri argues that had the financial crisis of 2008 happened in the 20th century, the elites, through their control of the flow of information, might have portrayed it as a natural disaster we should rally around our leadership to overcome. But with the advent of the internet, we got the "networked public", and the elites and government lost their monopoly on information.
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- Aug 2020
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www.theguardian.com www.theguardian.com
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editor, M. S. P. (2020, August 16). End of UK furlough scheme ‘means needless loss of 2m jobs.’ The Observer. https://www.theguardian.com/uk-news/2020/aug/16/end-of-uk-furlough-scheme-means-needless-loss-of-2-million-jobs
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www.nber.org www.nber.org
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Bordo, M. D., Levin, A. T., & Levy, M. D. (2020). Incorporating Scenario Analysis into the Federal Reserve’s Policy Strategy and Communications (Working Paper No. 27369; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27369
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