Forrest Gump

Watergate Scandal – On the morning of June 17, 1972, several burglars were arrested inside the office of the Democratic National Committee (DNC), located in the Watergate building in Washington, D.C. This was no ordinary robbery: The criminals were connected to President Richard Nixon’s reelection campaign.  They had been caught while attempting to wiretap phones and steal secret documents.  While historians are unsure about whether or not Nixon knew about the Watergate espionage operation before it happened, he took steps to cover it up afterward, raising “hush money” for the burglars, trying to stop the FBI from investigating the crime, destroying evidence, and firing uncooperative staff members. In August 1974, after his role in the Watergate conspiracy had finally come to light, the president resigned. His successor, Gerald Ford, immediately pardoned Nixon for all the crimes he “committed or may have committed” while in office. Although Nixon was never prosecuted, the Watergate scandal changed American politics forever, leading many Americans to question their leadership and think more critically about the presidency.

Quote:

"Life is like a box of chocolates; You never know what you're gonna get."

Interpretation:

Life is full of mystery and wonder.  No one chooses their destiny or the life into which they are born; one may be born into a family of great wealth and power and might be destined for greatness, another into a family of utter poverty and desperation, along with mental or physical incapability’s, being destined for a life of shame, etc.

1920's Spring Break Blog

Significant Economic Factors Behind the Stock Market Crash of 1929:

Credit Boom – In the 1920s, there was a rapid growth in bank credit and loans. Encouraged by the strength of the economy, people felt the stock market was a one way bet. Some consumers borrowed to buy shares. Firms took out more loans for expansion. Because people became highly indebted, it meant they became more susceptible to a change in confidence. When that change of confidence came in 1929, those who had borrowed were particularly exposed and joined the rush to sell shares and try and redeem their debts.

Buying on the Margin – Related to buying on credit, practice of buying shares on the margin.  Meant you only had to pay 10 or 20% of the value of the shares; borrowing 80-90%.  Enabled more money to be put into shares, increasing their value.  Many made huge profits by buying on the margin and watching share prices rise; however, investors were left utterly exposed when prices fell.  Margin millionaires got wiped out when the stock market fall came, and banks who had lent money to those buying on the margin suffered as well.

Irrational Exuberance – False expectations. In the years leading up to 1929, the stock market offered the potential for making huge gains in wealth. People bought shares with the expectations of making more money. As share prices rose, people started to borrow money to invest in the stock market. The market got caught up in a speculative bubble; shares kept rising and people felt they would continue to do so. The problem was that stock prices were not being driven by true economic fundamentals but the optimism / exuberance of investors.  By October 1929, shares were grossly overvalued. When companies posted disappointing results on October 24 (Black Thursday), many investors began to feel that it was a good time to cash in on their profits; share prices began to fall and panic selling caused prices to plummet dramatically.  By 1930 the value of shares had fallen by 90%.

Mismatch between production and consumption – The 1920s saw great strides in production techniques, especially in industries such as that of automobiles. The production line enabled increases in production on an unprecedented scale; however, demand for consumer goods was struggling to keep up.  Toward the end of the 1920s, many firms found themselves with an overwhelming surplus of goods, leading to a sharp decline in profits and falls in share prices.  By 1929, there were already warning signs of a battered economy with falling car sales, lower steel production, and slow housing construction.  In spite of this, however, people continued to buy shares.

Agricultural Recession – Even before 1929, the American agricultural sector was struggling to maintain profitability. Many small farmers were driven out of business because they could not compete in the new economic climate. Better technology was increasing supply, but demand for food was not increasing at the same rate; therefore, prices fell and farmers’ incomes dropped.  It was virtually impossible for unemployed farmers to get jobs elsewhere in the economy.

Weaknesses in the Banking System – Before the Great Depression, the American banking system was characterized by having many small to medium-sized firms. America had over 30,000 banks. The effect of this was that they were prone to going bankrupt if there was a run on deposits. In particular, many banks in rural areas went bankrupt due to the agricultural recession. This had a negative impact on the rest of the financial industry.  Between 1923 and 1930 5,000 banks collapsed.

Racism in the 1920's

Quote:

"Though men and women drop from the ranks they remain with us in purpose, and can be depended on fully in any crisis. Also, there are millions who have never joined, but who think and feel and -- when called on -- fight with us. This is our real strength, and no one who ignores it can hope to understand America today." Hiram Wesley Evans, The Klan's Fight for Americanism, The North American Review (March-April-May 1926)

Interpretation:
Even if members withdraw from the Ku Klux Klan, they remain tied to it through their perception of racial issues.  They continue to believe and live by the ideas behind white supremacy, essentially continuing their membership in the Klan without the label.  Countless civilians who have never officially joined the Klan but possess the same ideals previously discussed also indirectly contribute to the success of the Klan.  This reality is the very thing which strengthens the Klan and its causes.  It is an incredible American feat.

D. W. Griffith’s The Birth of a Nation helped increase the population of the Ku Klux Klan by relating historical acts of racism to Americanism.  It made racist ideals seem fundamental to the advancement of the American nation.  Without such ideals, our glorious nation would have never even come to be, convincing numerous American citizens to join the fight for the betterment of their country.     

WWI (Part 2)

Reasons why the U.S. entered WWI:  German U-boats, sinking of the Lusitania, interception of the Zimmerman Telegram,  cutting of the transatlantic cable, sinking of 3 U.S. Naval ships, sinking of the Sussex, and the Russian revolution.

Cartoons
1)German U-Boats
2)Sinking of the Lusitania
3)Interception of the Zimmerman Telegraph
4)Cutting of the transatlantic cable
5)Sinking of 3 U.S. Naval ships
6)Sinking of the Sussex

The Russian revolution is missing; after Russia was liberated, the U.S. was more willing to enter the war.

1920's In-Class Assignment

1.  Unlike the majority of U.S. residents at the time, President Harding believed that World War I was not necessarily at fault for the increased moral degradation of the American people.  He was convinced that, instead, the disregard of American law on behalf of highly influential, authoratative figures within the nation paved the way for other members of society to follow, subsequently leading to horrific ethical corruption.  If respect for the law was to be maintained, such figures of influence had to have led by example.

2.

     With a lack of temperance, upper-class members of American society often fell victim to alcoholism, leading them to engage in disorderly conduct.  Excessive spending on alcoholic beverages in an attenpt to satisfy their addiction  impoverished a number of them.  The drinking also diseased them, attacking, and gradually weakening, their livers.  They soon found themselves alone, unwanted, friendless, and in utter despair.  With little to their name and virtually no hope for bettering their condition, they resorted to a life a crime.  Seeing no purpose in living such a life of distaste any longer, many committed suicide.



In the latter portion of the 19th century and into the early 20th century, alcoholism was the number cause of marital divorce in the U.S.  It plagued matrimonies with extreme domestic violence and uneccesary spending, shattering homes and ,in turn, the lives of children across the nation.

WWI (Part 1)

How the following factors lead to war:

1) Imperialism:  as a result of it, intense rivalries among various nations arose across the globe.

2) Militarism:  military expansion simply made war inevitable, for, it sparked tension among numerous countries on a national scale.

3) Nationalism:  nationalistic nations often acted on behalf of their own interest, completely ignoring that of neighboring nations and harming them as a result.  This only served to heighten resentment and the potential for combat among the nations.

4) Alliances:  once a nation began to have issues with another, a domino effect was initiated; the nations' allies were dragged into the conflict, blowing it out of proportion and igniting a war.

American Imperialism

     The political cartoon above illustrates the incredible extent of American imperialism by the end of the 19th century.  It also conveys the astute pride the U.S. had in having dominion over such a wide array of global nations, depicting iconic, nationalistic symbols, such as the eagle, colonial stripes, and state stars, about the globe.

Factors contributing to the U.S. decision of becoming an imperialistic nation in the latter portion of the 19th century include:  nationalism (as expressed above), militarism (Naval base and troop expansion), humanitarianism (westernization), and economic opportunity (natural resources and new markets for manufacured goods).