(Reading selection) The Worst Depression of Modern History

Together, the 1929 stock market crash and the great depression formed the largest financial crisis of
the 20th century. The panic of October 1929 has come to serve as a symbol of
the economic contraction that gripped the world during the next decade. The falls
in share prices on October 24 and 29, 1929 were practically instantaneous in
all financial markets, except Japan.

The 1929 crash brought the Roaring Twenties to a shuddering halt. As tentatively expressed by economic
historian Charles Kindleberger, in 1929 there was no lender of last resort
effectively present, which, if it had existed and were properly exercised,
would have been key in shortening the business slowdowns that normally follows
financial crises. The crash marked the beginning of wide-spread and
long-lasting consequences for United States. Historians still debate the
question: did the 1929 Crash spark The Depression, or did it merely coincide
with the bursting of a loose credit-inspired economic bubble? Only 16% of
American households were invested in the stock market within the United States
during the period leading up to the depression, suggesting that the crash
carried somewhat less of a weight in causing the depression.

However, the psychological effects of the crash reverberated across the nation as business
became aware of the difficulties in securing capital markets investments for
new projects and expansions. Business uncertainty naturally affects job
security for employees, and as the American worker faced uncertainty with regards
to income, naturally the propensity to consume declined. The decline in stock
market caused bankruptcies and severe macroeconomic difficulties including
contraction of credit, business closures, firing of workers, bank failures,
decline of the money supply, and other economic depressing events.

The resultant rise of mass unemployment is seen as a result of the crash, although the crash is by no
means the sole event that contributed to the depression. The Wall Street crash
is usually seen as having the greatest impact in the events that followed and
therefore is widely regarded as signaling the downward economic slide that
initiated the Great Depression. True or not, the consequences were dire for
almost everybody. Most academic experts agree on one aspect of the crash: It
wiped out billions of dollars of wealth in one day, and this immediately
depressed consumer buying.

The failures set off a worldwide run on US gold deposit and forced the Federal Reserve to raise
interest into the slump. Some, 4,000 banks and other lenders ultimately failed.
Also, the uptick rule, which allowed short selling only when the last tick in a
stock’s price was positive, was implemented after the 1929 market crash to
prevent short sellers from driving the price of a stock down in a bear raid.

Economist and historians disagree to what role the crash played in subsequent economic, social and
political events. The Economist argued in a 1998 article that the depression
did not start with the stock market crash. Nor was it clear at the same time of
the crash that a depression was starting. They argued that there must be some
setback, but there was not yet sufficient evidence to prove that it will be
long or that it need go to the length of producing a general industrial
depression.

But The Economist also cautioned that some bank failures are also to be expected and some banks may
not have any reserves left for financing commercial and industrial enterprises.
They concluded that the position of the banks is the key to the situation, but
what was going to happen could not have been foreseen.
1. What happened during the Great Depression?
During the Great Depression, individuals relied on themselves and one another to get by. It began after the stock
market crash of October 1929, which was swift and severe, and the Great Depression created the largest financial
crisis of the twentieth century. Great Depression results Economic contraction that gripped the world throughout
the next decade. Many things actually occurred during the Great Depression that had an impact on personal
income, tax revenue, profits, and pricing. It sent shockwaves through the financial community, and banks began to
fall as a result. Shortening of businesses also occurred, which exacerbated financial problems, workers suffered
income instability, bankruptcies and serious macroeconomic issues occurred, and many other things. Almost every
industry was affected during the Great Depression, resulting in sharp drops in industrial output and employment as
failing companies laid off people, slowing economic development, reducing business activity, and increasing the
unemployment rate. It took longer to quantify the entire impact of the Great Depression as the ripple effects
spread. People suffered terribly during the Great Depression, particularly those from the United States. People
during depression die as a result of overthinking, which leads to suicidal behaviour.

2. What is meant by the line, “The Roaring Twenties was put to a halt
because of the Great Depression”?

- It means that the people were shouting or asking for justice because the decade of economic growth in 1920s
was stopped because of economic crisis. The Roaring Twenties was a period of economic and cultural change in
the United States, including other highly industrialized Western hemisphere nations. This time was characterized
by continued financial and economic growth, and a cultural upswing. The Roaring Twenties was a time when many
people were defying Prohibition, indulging in modern dance and clothing trends and ignoring many of the
conventional moral standards. However, the phase was cut short by the Wall Street Crash of 1929 which preceded
the 12-year Great Depression.

3. How will this article help explain the financial difficulty experienced by
today’s generation?

-it helps today’s generation that somehow to avoid or get warn, because it shows every circumstances about
financial difficulty that leads 20th Century to Great Depression. Although we are experiencing some of the financial
difficulty but not yet too severe to go into depression like 20th Century. But the real estate collapse and subsequent
financial crisis and then the COVID-19 pandemic had a lasting impact that still reverberates, and some
millennials/today’s generation may jokingly think they have no future.

Because of the pandemic every countries financial affects, government funds went here, mostly to the sick people,
poor people, and to equipments or medicine. This pandemic has been spreading for almost 3 years, which until
now has not ended, but thank god and it is not as bad as before, we can breathe now, hopefully this pandemic will
disappear and end.
You are to explain the four topics in the fourth quarter with authentic examples and describe the
struggle, if any, in understanding the topics and its. Application in real life.

-Our first topic in fourth grading is “The Six Trigonometric Ratios” in this topic we learn about
trigonometry that deals with the relationships of the lengths and the angles of triangles. And it’s more
about solving right triangles, and Pythagorean theorem is very useful for solving right triangles. The Six
Trigonometric Ratios are sine, cosine, tangent, cotangent, cosecant, and secant, they are used with right
triangles to find side length and angle measures, but they can also be used as functions in equations.

For example: If we have been given with height of the building and the angle formed when an car is
seen from the top of the building, then the distance between car and bottom of the building can be
determined by using the tangent function, such as tan of angle is equal to the ratio of the height of the
building and the distance. So far, for me there is no struggle about this topic but at first im confused of
what ratio should I use in the problems.

- Our second topic in fourth grading is “Angles of Elevation and Depression” in this topic we are able to
learn How to determine and illustrate the angle of elevation and depression. An angle of elevation is the
“upward” angle from the horizontal to a line of sight from the object to a given point, For example:
Placing ladders against a flat wall or surface makes an angle of elevation from the ground. Whereas an
angle of depression is where the angle goes “downward” from the horizontal to a given point, as shown
below.

Trigonometry can be used to solve problems that use an angle of elevation or depression For example: A
girl is looking the cars at the top of the building that makes an angle of depression from the girl. For me
the struggle is when I illustrate the given problem, because sometimes I get confused about it.

- Our third topic in fourth grading is “Laws of Sine” in this topic we are able to solve oblique triangles,
because The law of sine is used to find the unknown angle or the side of an oblique triangle. Generally,
the law of sines is used to solve the triangle, when we know two angles and one side or two angles and
one included side. It means that the law of sines can be used when we have ASA (Angle-Side-Angle) or
AAS (Angle-Angle-Side). The Law of Sines states that each side of a triangle is proportional to the sine of
the opposite angle.

The sine rule is used when we are given either two angles and one side, or two sides and a non-included
angle. Example for this topic is Bermuda triangle, imagine length of two sides and the angle between
them is given and you gonna solve for the missing side. For me the struggle is when I illustrate the given
problem, because sometimes I get confused about it.

-0
The cosine rule is used when we are given either three sides or two sides and the included angle .
Example for this topic is Pizza imagine the length of three sides are given and you gonna solve for its
angle. For me the struggle is when I illustrate the given problem, because sometimes I get confused
about it.

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