Home Front America 2
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The federal government took control of the economy to pay for World War 2. It overhauled the tax system, increasing tax brackets for the wealthy to 90% and implementing payroll withholding. Government issued war bonds that raised about 33% of funds and deficit spending raised 25% while taxes contributed 41%. The Office of Price Administration froze wages and prices and rationed goods to fight inflation. Rationing books with stamps were issued to ration meat, dairy and other goods. Women entered the workforce as factories converted to war production. Propaganda used cartoons to manipulate thoughts and support the war effort.
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Here are the steps:
1. Exchange $600 for KRW at rate of 1 to 1,176 = KRW 705,600
2. Buy cell phone in Korea for KRW 600,000
3. Ship phone to US for $5
4. Sell phone in US for $600
5. Exchange KRW 105,600 back to dollars at rate of 1 to 1,176 = $90
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Nielsen Review of US Consumer Market
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Speculation in food commodity derivatives markets contributed to the huge spike in global food prices between 2007-2008. The deregulation of these markets in the 1990s and 2000s allowed large financial institutions like Goldman Sachs to create commodity index funds, drawing huge amounts of speculative capital into food commodities. By 2008, speculators dominated long positions in key food crops like maize and wheat. This speculation amplified price movements driven by real supply and demand factors, causing food prices to rise over 80% in a year and contributing to increased global hunger.Monetizing the Colossal Costs of COVID-19
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Chapter_4_Consumer_Equilibrium_and_Market_Demand_Fall_2012.ppt
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The document discusses global economic growth and prosperity. It provides information on trends in global poverty rates, GDP measurements, and factors that influence economic growth. Key points include:
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Vietnam
The document summarizes the history of foreign involvement in Vietnam from the French colonization in the 19th century through the escalating US involvement and anti-war protests of the 1960s-1970s. It traces the rise of Ho Chi Minh and the Viet Minh in fighting for independence from France after World War 2, the US backing of a non-communist South Vietnam, and the growing American military commitment and anti-war movement as hundreds of thousands of US troops were sent to support the South Vietnamese government against the Viet Cong insurgency.
Civil Rights Movement
The Civil Rights Movement of the 1950s and 1960s aimed to end racial segregation and discrimination against African Americans. Key events and figures included Brown v. Board of Education in 1954 which overturned racial segregation in schools, the Montgomery Bus Boycott led by Martin Luther King Jr., and the March on Washington in 1963 where King delivered his iconic "I Have a Dream" speech. The Civil Rights Act of 1964 and Voting Rights Act of 1965 were passed to further promote racial equality.
Civil Rights Movement
The Civil Rights Movement prior to 1954 saw some progress such as the abolition of slavery after the Civil War and the founding of organizations like the NAACP in 1909. However, the 1896 Plessy v. Ferguson Supreme Court decision legalized racial segregation. Through the 1950s, the NAACP challenged segregation in the courts in cases like Brown v. Board of Education in 1954, which ruled that racial segregation in public schools was unconstitutional. However, implementation of desegregation met strong resistance in some southern states, as seen in events like the Little Rock Nine crisis. Non-violent protests grew the movement throughout the late 1950s and early 1960s, culminating in the March on Washington and passage of the Civil
The vietnamwar
The Vietnam War began as a conflict between North and South Vietnam following their division in 1954. The U.S. initially sent advisors and then troops to support South Vietnam against communist North Vietnam and Viet Cong forces. Despite massive U.S. bombing and troop deployments, the Tet Offensive in 1968 showed the war was not going well. Growing domestic opposition led to U.S. withdrawal under Nixon and the fall of South Vietnam to communist forces in 1975. The human and financial costs for the U.S. and Vietnam were immense. The war left deep scars and lessons about the difficulties of asymmetric warfare.
32 Slide Share
The 1920s saw social and economic changes in the United States. The period after WWI was characterized by isolationism, as seen in laws restricting immigration and the Red Scare targeting radicals. Culturally, the decade witnessed the rise of new technologies like automobiles, movies, radio and their impact on American life and values. The booming economy of the decade was fueled by mass consumption and consumer credit, but was unstable due to stock market speculation and an overheated real estate market, setting the stage for the Great Depression.
32 Slide Share
The 1920s saw social and economic changes in the United States. The period after WWI was characterized by isolationism, as seen in laws restricting immigration and the Red Scare targeting radicals. Culturally, the decade witnessed the rise of new technologies like automobiles, radio, and movies. The stock market boom led many to speculate, but the economy was unstable and ultimately collapsed with the 1929 crash. Overall, the Roaring Twenties represented a shift toward greater social liberalism and consumerism.
32 Slide Share
The 1920s saw social and economic changes in the United States. The period after WWI was characterized by isolationism, as seen in laws restricting immigration and the Red Scare targeting radicals. Culturally, the decade witnessed the rise of new technologies like automobiles, radio, and movies. The stock market boom led many to speculate, but the economy was unstable and ultimately collapsed with the 1929 crash. Overall, the Roaring Twenties represented a time of social liberalism, economic growth, and increasing consumerism in America.
32 Slide Share
After World War I and during the 1920s, post-war America experienced paranoia about communism known as the "Red Scare", which led to raids and deportations of suspected radicals. Conservatives also passed laws limiting free speech and criminalizing advocacy of violence. At the same time, the resurgent Ku Klux Klan grew to over 5 million members in the mid-1920s, influencing politics in the Midwest and South. Congress also passed restrictive immigration laws in 1921 and 1924 to stem the flow of immigrants from southern and eastern Europe and bar Japanese immigration. Prohibition began in 1919 due to pressure from progressive reformers, but led to a boom in illegal alcohol, organized crime, and corruption as gangs fought for control
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WW2
1) Germany invaded Poland in 1939 starting WWII. The Allies declared war on Germany but set up defenses instead of attacking. Germany then quickly defeated Denmark, Norway, Belgium, the Netherlands and France.
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Home Front America 2
- 1. Home Front Notes World War 2
- 2. Federal Government Takes Control of Economy:
- 3. How to Pay for War? Tax System overhauled Revenue Act of 1942 Brackets on wealthiest went up to 90% Additional brackets for lower and middle income levels 50 million people eligible to pay Withholding system implemented Meaning? Comprised approximately 41% of war funds
- 5. Department of Treasury Issued war bonds to raise money for the war effort and to fight inflation a.k.a. liberty bonds 8 major drives lasting 4-7 weeks Celebrities used in fund raising campaigns
- 6. Hollywood Goes to War
- 7. Liberty Bonds Payroll savings plan allowed you to have money deducted from pay check and converted in bonds Comprised approximately 33% of war funds
- 9. Deficit Spending Must spend money we don’t have National debt takes off from $42 billion to $279 billion Comprised approximately 25% of war funds
- 10. Office of Price Administration(O.P.A.) Fought inflation by freezing wages, and prices Set ceiling prices: maximum that can be charged on rent Rationed foods such as meats, butter, cheese, vegetables, sugar and coffee
- 11. ''Use it Up, Wear it Out, Make it Do and Do Without."
- 12. Rationing Books Issued to all Americans Could only purchase rationed items with stamps and cash
- 14. Educating on Rationing Books
- 15. What Could You Get? Based on point system Blue Stamps: canned foods (48pts mo.) Red Stamps: meat, fish, dairy (64 pts mo.) 2 lbs. Fruit/vegetables per person/month 1.5 lbs Meat per person/month 4 oz. Cheese per person/month
- 17. This was viewed as unpatriotic
- 20. Fuel Rationing Gas was determined by the sticker Most people received “A” 3gallons/wk Vital services received “C” unlimited
- 21. Cut Down on Trips
- 22. Speed Reduction
- 23. Ordinary Citizens Pitching In
- 24. War Production Board (W.P.B.) Rationed fuel and materials vital to the war effort such as: gasoline, heating oil, metal, rubber, and plastics Oversaw conversion of factories from consumer to war production Encouraged use of women and Blacks e.g. car factory=>tank factory fridge makers=>munitions (bombs/bullets)
- 26. Rosie the Riveter Women filled jobs in factories 38% of labor force by 1945
- 28. What problems did women face entering the workforce?(Swing Shift clips)
- 29. Propaganda Government endorsed effort to deliberately manipulate your thoughts and actions Why are cartoons widely used?