.BBC Radio Panic Of 1926 - 1920s > .
Clerical prankster, fake new, and the anxious credulous .... apology inevitable.
Wednesday, June 4, 2014
Monday, June 2, 2014
Economy of the Soviet Union - 5-yr plans
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1928 > .
1928-10-1: USSR introduces first five-year plan under Joseph Stalin - HiPo > .Dark History of the Soviet War Machine - Timeline > .
The plan set a series of economic goals to be achieved between 1929 and 1934, with the intention of rapidly industrialising the USSR in case of war with the West. Based on Stalin’s policy of Socialism in One Country, the five-year plan called for a complete change in the culture of the Soviet Union that affected agriculture just as much as industry.
A vital ingredient in being able to fulfil the industrial goals of the five-year plan was an increase in agricultural productivity. Improved agricultural output would release peasants and farm labourers from the land and allow them to become industrial workers. The first five-year plan is therefore probably most famous for the introduction of the policy of collectivisation, where hundreds of peasants were put together to work on enormous farms that covered thousands of acres.
The dramatic increase in food output per peasant as a result of mechanisation on collectivised farms freed up former agricultural workers to move to the new factories instead. This led to the number of industrial workers almost doubling between 1928 and the end of the plan in 1932. However, significant opposition to the process of collectivisation meant that overall productivity remained low in many areas and caused widespread famine in the countryside as Party officials seized food for the cities yet left the agricultural workers with nothing.
In the factories, however, production soared. Although the targets were constantly revised to the point where they could never be achieved, the first five-year plan firmly set the USSR on the road to becoming a world superpower.
23-6-15 Soviets [Disastrous Attempt] to Abolish Money - Asianometry > .
Economic History of the Soviet Union - MRU >> .
Economic History of the Soviet Union - MRU >> .
A vital ingredient in being able to fulfil the industrial goals of the five-year plan was an increase in agricultural productivity. Improved agricultural output would release peasants and farm labourers from the land and allow them to become industrial workers. The first five-year plan is therefore probably most famous for the introduction of the policy of collectivisation, where hundreds of peasants were put together to work on enormous farms that covered thousands of acres.
The dramatic increase in food output per peasant as a result of mechanisation on collectivised farms freed up former agricultural workers to move to the new factories instead. This led to the number of industrial workers almost doubling between 1928 and the end of the plan in 1932. However, significant opposition to the process of collectivisation meant that overall productivity remained low in many areas and caused widespread famine in the countryside as Party officials seized food for the cities yet left the agricultural workers with nothing.
In the factories, however, production soared. Although the targets were constantly revised to the point where they could never be achieved, the first five-year plan firmly set the USSR on the road to becoming a world superpower.
Sunday, June 1, 2014
1929 Stock Markets Slump & Crash
.Hoover's Mismanagement of the Great Depression - Biog > .Reminiscences of a 1929 Bubble - TCO > .
1929 1/3 - US Economy Crashes Hard - B2W - tgh > .
1929-10-24 Stock Market Crash - Black Thursday - ExHi > .
1929-10-24 Stock Market Crash - Black Thursday - ExHi > .
1932-7-8 Dow Jones falls to lowest point during Great Depression - HiPo > .
The Great Depression | US history lecture - CynHist > .
The Great Depression | US history lecture - CynHist > .
Stock Brokers Didn't Jump off Buildings b/o 1929 Stock Market Crash - SiHi > .The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange collapsed.
It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects. The Great Crash is mostly associated with October 24, 1929, called Black Thursday, the day of the largest sell-off of shares in U.S. history, and October 29, 1929, called Black Tuesday, when investors traded some 16 million shares on the New York Stock Exchange in a single day. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the Great Depression.
The "Roaring Twenties", the decade following WW1 led to the crash. It was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with the hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
Despite the inherent risk of speculation, it was widely believed that the stock market would continue to rise forever: on March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker Charles E. Mitchell announced that his company, the National City Bank, would provide $25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, and call money declined from 20 to 8 percent. However, the American economy showed ominous signs of trouble: steel production declined, construction was sluggish, automobile sales went down, and consumers were building up high debts because of easy credit.
Despite all the economic warning signs and the market breaks in March and May 1929, stocks resumed their advance in June and the gains continued almost unabated until early September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before the crash, economist Irving Fisher famously proclaimed "Stock prices have reached what looks like a permanently high plateau." The optimism and the financial gains of the great bull market were shaken after a well-publicized early September prediction from financial expert Roger Babson that "a crash is coming, and it may be terrific". The initial September decline was thus called the "Babson Break" in the press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity.
On September 20, 1929, the London Stock Exchange crashed when top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery. The London crash greatly weakened the optimism of American investment in markets overseas: in the days leading up to the crash, the market was severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery.
It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects. The Great Crash is mostly associated with October 24, 1929, called Black Thursday, the day of the largest sell-off of shares in U.S. history, and October 29, 1929, called Black Tuesday, when investors traded some 16 million shares on the New York Stock Exchange in a single day. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the Great Depression.
Despite the inherent risk of speculation, it was widely believed that the stock market would continue to rise forever: on March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker Charles E. Mitchell announced that his company, the National City Bank, would provide $25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, and call money declined from 20 to 8 percent. However, the American economy showed ominous signs of trouble: steel production declined, construction was sluggish, automobile sales went down, and consumers were building up high debts because of easy credit.
Despite all the economic warning signs and the market breaks in March and May 1929, stocks resumed their advance in June and the gains continued almost unabated until early September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before the crash, economist Irving Fisher famously proclaimed "Stock prices have reached what looks like a permanently high plateau." The optimism and the financial gains of the great bull market were shaken after a well-publicized early September prediction from financial expert Roger Babson that "a crash is coming, and it may be terrific". The initial September decline was thus called the "Babson Break" in the press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity.
On September 20, 1929, the London Stock Exchange crashed when top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery. The London crash greatly weakened the optimism of American investment in markets overseas: in the days leading up to the crash, the market was severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery.
The combined 25% decline of October 28–29, 1929 remains the worst two-day decline (as of 25 March 2021).
...
In 1932, the Pecora Commission was established by the U.S. Senate to study the causes of the crash. In 1933, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks, which take deposits and extend loans, and investment banks, which underwrite, issue, and distribute stocks, bonds, and other securities.
After, stock markets around the world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of Black Monday, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, as well as Black Monday of March 16, 2020 (−12.9%), were worse in percentage terms than any single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929 was larger than that of October 19, 1987, and remains the worst two-day decline as of 25 March 2021).
...
In 1932, the Pecora Commission was established by the U.S. Senate to study the causes of the crash. In 1933, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks, which take deposits and extend loans, and investment banks, which underwrite, issue, and distribute stocks, bonds, and other securities.
After, stock markets around the world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of Black Monday, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, as well as Black Monday of March 16, 2020 (−12.9%), were worse in percentage terms than any single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929 was larger than that of October 19, 1987, and remains the worst two-day decline as of 25 March 2021).
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sī vīs pācem, parā bellum
igitur quī dēsīderat pācem praeparet bellum therefore, he who desires peace, let him prepare for war sī vīs pācem, parā bellum if you wan...
