Friday, November 18, 2011

  "In late 1929 the Great Depression hit worldwide as a result of the crash of the stock market in America and resulting mass bank failures. Germany was particularly affected because its economy had become deeply linked to the U.S. economy. Unemployment goes from about 1.5 million workers in 1929 to 4 million workers in 1930. The Nazi’s capitalized on the severe economic disaster. By 1930 they had become the second largest party in the Reichstag after the Social Democratic Party (SPD), it now became impossible to form a majority in parliament without them. Street fights between Nazi and Communist forces intensify. The centrist government under Chancellor Heinrich Brüning, invokes article 48 of the Constitution and declares a state of emergency in order to keep the government functioning because the Nazis are completely uncompromising and will not work with the more moderate parties."
   The term Great Depression refers to Economic depression across the nation, this all started when the stock prices started to fall. "The Great Depression had devastating effects in virtually every country, rich and poor .Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most,There were multiple causes for the first downturn in 1929. These include the structural weaknesses and specific events that turned it into a major depression and the manner in which the downturn spread from country to country,  as stated on http://en.wikipedia.org."
   " Nazism was founded out of elements of the far-right racist volkisch German nationalist movement and the violent anti-communist Freikorps paramilitary culture that fought against the uprisings of communist revolutionaries in post-World War I Germany. The ideology was developed first by Anton Drexler and then Adolf Hitler as a means to draw workers away from communism and into völkisch nationalism. Initially Nazi political strategy focused on anti-big businessanti-bourgeois, and anti-capitalist rhetoric, though such aspects were later downplayed in the 1930s to gain the support from industrial owners for the Nazis, focus was shifted to anti-Semitic and anti-Marxist themes", http://en.wikipedia.org.
    I chose this passage because i think the hardships we are facing in today's economy is somewhat of the same as what occurred throughout this era. A lot of individuals today are facing unemployment at this present time. It may not be the same as it was in 1929 but it is somewhat of a recurring action that is taking place.