Personal Experiences During The Great Depression

Name: Hoang Nguyen
Period: 2
Due date: January, 12, 2015
Start / Stop dates: Started October, 24, 2014 ---
Ended December, 12, 2014
Total amount of money I ended: $5,154.44
Penalties: $750
Total amount of money. $4,404.44
Page requirements: 7 pages

Personal experiences:

After Mr.Moore closed the first contest, then he opened the second one. And I am

supposed to gain $6,250, which is the minimum amount of money to literally pass this contest

without getting any punishments. I ended with making money, but that is just a little bit of

money. At the beginning, I bought 400 shares of LAKE, which is the best stock that relates to

Lakeland Industries- a company produces protective clothing, chemical protective

People at the time before the depression were using credits to

buy cars, houses, household supplies, healthcare, and pay for their daily lives, then after credit

cards declined in amount of using, this way was not popular than before during the Great

Depression. At this time, people lives was very difficult, and as consumers couldn't afford for

their lives, business closed, and more people lost jobs, this circle just repeated and at one point

it will be an end. During this time, people actually thought that there wouldn't be any way to make

this goes back to equal line as it's usual before. But eventually, the Great Depression ended by

the boost in economy during the World War II. The American sold weapons for its alliances,

and by stay in a great geographical position, the U.S. stayed out of the war. Industry rose fast,

people have job, either be soldiers or workers, or entrepreneurs. Then, after this crisis, it came

with another one, which happened in 2008, basically this crisis has a lot of things similar with the

Great Depression. I still remembered that year when the highest unemployment ratio went very

high, business and companies failed, bankrupt, insurance companies closed because they

Well GDP means Gross Domestic

Product, which can be basically understood is the total amount, or value of by making or selling

any products inside border of country. For example, if a country makes a phone inside the

country, even though it is made by a foreign company, so the phone's value will be counted in

that country's GDP. And because GDP also represents for the performance of how that

country doing on its economy. Therefore, every single country has to keep track on that, except

for those countries, which never care about economic. To determine the exact GDP,

professional created a standard to evaluate it included four components, which every country

has, and those are investment, consumption, government purchase and net export. The most

important part to determine GDP is consumption, which is based on customers, also mean us.

Therefore, how much we spend to buy stuffs determined how high of GDP, consumption has

approximately 70% in the whole GDP of any country, and if a country has a high unemployment

rates, it will affect seriously to the GDP, because when people don’t have job, they won’t