AMH 2020 0001 page 1 March 3 2015 After WW1 Germany is starving Hoover goes to Germany and does a huge food relief program o Saves many people from starving o Is appointed to Harding s cabinet o 1928 elected president of US Never been a politician Only ran for president and didn t have to break a sweat to win that Not good at communicating with people Never spoke a word to his Butler for 4 years US economy has been increasing in 1920s SNL Bubble Dot Com Bubble Housing Bubble Times when there is seemingly no way you can lose in stock market o There was no safety net back there No unemployment benefits food stamps or social security Nothing to protect your money No securities and Exchange commission No FDIC Federal Deposit Insurance Coalition o CDs Certificates of Deposits Stock market is a game o People began buying on margin credit Get bill later American Radio Stock got up to 400 dollars a share but they didn t know what they did AMH 2020 0001 page 2 Hoover wanted to let the economy pick itself up Didn t try to bail out the banks or help the people Forced to react o Gives money to millionaires o Makes Hoover look terrible Republicans lose control of Congress in 1931 Soldiers want their money for fighting in the war Congress votes to give them half of it o They blow through it and want the other half of it They become known as the bonus army descend on Washington to protest o Camp out and spend days going around to congress men and women asking them to vote for the release of their money o Approved in House of Representatives but defeated in the Senate Hoover gets frightened that the poor pathetic men pose a threat to government o Hoover orders the US army to attack veterans o Hoovers popularity goes down further Democrats know that they will win the Presidency Turn to Governor of New York Roosevelt o Has been struck by paralysis from his legs down o He is in a wheel chair Roosevelt does the new deal and wins easily AMH 2020 0001 page 3 The worst of the Depression occurs after Roosevelt s inauguration Hoover was defeated and Roosevelt wasn t in office yet Hoover wanted Roosevelt to help with the economy but Roosevelt didn t want to do it because If things get better it looks like Roosevelt isn t needed If things get worse it looks like Roosevelt isn t keeping his word Huge national companies were being threatened and Hoover can t do anything and Roosevelt won t do anything States try to stop people from taking money out by using the Bank Holiday bill o Gives the Governor of a state the right to close the banks on holidays Like Christmas and New Years However nothing said that you can t close it on other days Governors in 16 other states follow suit and when Roosevelt becomes president he orders a nationwide Bank Holiday shutting down the nation s banks The 100 Days Phony thing that has existed since 1933 Answer since 1933 has been nothing Roosevelt s first 100 days he passes 100s of bills o He had no grand strategy or plan to establish his new deal o Threw bills against the wall to see what worked Congress is happy to vote for anything he passes out because they want the depression to end o He insured Bank deposits But first he had to audit all of the banks AMH 2020 0001 page 4 o Creates the CCC and WPA CCC Civilian Conservation Corp Bulk of people who are unemployed are between 18 and 26 Living at home with mom and dad so they can use up their limited resources Takes the young men out of cities to work in national parks on conservation projects in national forests o Make about 20 buck a month 400 dollars a month now get room and board so this money is spending Don t get to keep the entire amount per month Half goes to parents back in the city to help them money out WPA Works Progress Administration Provides jobs for millions of Americans Finds people a job in their profession o Hire people to build things that they are specialized to build o Doesn t matter how esoteric your job is they will find a way to hire you o labor protection minimum wage low interest loans for farmers social security Roosevelt s second term is cursed Slash government spending Mess with number of court justices AMH 2020 0001 page 5 New deal only lasts for 5 12 years in office Good Neighbor Policy o US going to stay out of Latin American business and stuff o But we do exactly what we were doing before Support Musolini Conspire with Chase bank to put Batista into power o Over thrown by castro 25 years later
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