Many people have heard of the Great Depression, but what caused this economic downturn? One of the great signifiers of the beginning was the Stock Market Crash of 1929. With that came the disaster of thousands of banks collapsing through the 1930’s. With the failure of financial institutions came a reduction in personal spending. These three factors helped bring about this awful disaster.
In the beginning came Black Tuesday 1929. That day the value of shares in the Stock Market plummeted, causing people to lose fortunes. Within two months shareholders lost nearly 40 billion dollars. With no end in sight the country braced itself for the eventual repercussions of major companies and wealthy citizens losing so much capital in such a short time.
Following the market crash came trickling effects of this disaster. Throughout the 1930’s, 9,000 banks failed. This means that any bank that overstretched itself through loans could declare bankruptcy. Any person with funds in that bank would simply lose their entire life savings. Also, people stopped investing their money in banks, and banks stopped offering loans creating a series of continued problems.
A final cause came because of this lack of personal and commercial investment. Whether because of a loss of personal finances or a lack of commercial options, people stopped buying things. Without money to buy things the market continued its downward spiral, bringing banks and personal finances with it. This lack of personal spending perpetuated the problem of dwindling market values.
In the end the causes of the Great Depression were byproducts of each other. Starting with problems of an overextended market that crashed and died quickly over a few months, the spiral began. From there the failure of banks coupled with a lack of purchasing destroyed exchanging finances. Thus the United States created and endured the greatest financial disaster of the world.
The reading and the lecture are both about the cause for the Great Depression. The author in the reading states that Great Depression started with the Plummeting of stock market in the 1929 and spiraled down to thousands of banks collapsing through the 1930's which further lead to decrease in the personal spending and crashing the economy. The lecturer builds upon those same ideas to give a more comprehensive picture.
To begin with, according the reading, Black Tuesday in 1929 is the day many people lost fortunes due to plummeting value of shares in Stock Market. Supporting this idea, the lecturer explains that this was the consequence of huge, unplanned economic growth, which produced many unnecessary products on which people traded to large extent, that ultimately costed them almost 40 billion dollars within two months.
Secondly, the reading states that, more than 9000 banks declared bankruptcy as a result of steep share market drop. Banks had overstretched itself funding many local companies that failed in business, this caused loss of funds and many people lost their entire life saving and they stopped investing. The professor adds on to this point by drawing the attention towards the great Drought that caused loss of crops, many farmers to displace and increased the unemployment within the country.
Finally, the reading claims that, all the above factors results in dwindling personal spending. People did not invest and buy things anymore because of loss of finances and commercial options. In support of this, the lecturer brings up a point that this was because of bad foreign policy where the government imposed high tariff of imported goods in order to promote the local factories. But with failure of these local companies to produce goods, which resulted in no options in market, people stopped purchasing causing the market to plummet.
In conclusion both writer and lecturer agree that the Great Depression was caused by many reasons which worsened each others effects on the market.
Grammar and spelling errors:
Line 1, column 342, Rule ID: ENGLISH_WORD_REPEAT_BEGINNING_RULE
Message: Three successive sentences begin with the same word. Reword the sentence or use a thesaurus to find a synonym.
...onal spending and crashing the economy. The lecturer builds upon those same ideas t...
^^^
Transition Words or Phrases used:
but, finally, if, second, secondly, so, as to, in conclusion, as a result, to begin with
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 5.0 10.4613686534 48% => More to be verbs wanted.
Auxiliary verbs: 0.0 5.04856512141 0% => OK
Conjunction : 10.0 7.30242825607 137% => OK
Relative clauses : 15.0 12.0772626932 124% => OK
Pronoun: 21.0 22.412803532 94% => OK
Preposition: 52.0 30.3222958057 171% => OK
Nominalization: 4.0 5.01324503311 80% => OK
Performance on vocabulary words:
No of characters: 1706.0 1373.03311258 124% => OK
No of words: 327.0 270.72406181 121% => OK
Chars per words: 5.21712538226 5.08290768461 103% => OK
Fourth root words length: 4.25242769721 4.04702891845 105% => OK
Word Length SD: 2.46302891243 2.5805825403 95% => OK
Unique words: 191.0 145.348785872 131% => OK
Unique words percentage: 0.584097859327 0.540411800872 108% => OK
syllable_count: 495.0 419.366225166 118% => OK
avg_syllables_per_word: 1.5 1.55342163355 97% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 2.0 3.25607064018 61% => OK
Article: 8.0 8.23620309051 97% => OK
Subordination: 0.0 1.25165562914 0% => More adverbial clause wanted.
Conjunction: 1.0 1.51434878587 66% => OK
Preposition: 3.0 2.5761589404 116% => OK
Performance on sentences:
How many sentences: 13.0 13.0662251656 99% => OK
Sentence length: 25.0 21.2450331126 118% => OK
Sentence length SD: 60.0792376192 49.2860985944 122% => OK
Chars per sentence: 131.230769231 110.228320801 119% => OK
Words per sentence: 25.1538461538 21.698381199 116% => OK
Discourse Markers: 6.76923076923 7.06452816374 96% => OK
Paragraphs: 5.0 4.09492273731 122% => OK
Language errors: 1.0 4.19205298013 24% => OK
Sentences with positive sentiment : 7.0 4.33554083885 161% => OK
Sentences with negative sentiment : 4.0 4.45695364238 90% => OK
Sentences with neutral sentiment: 2.0 4.27373068433 47% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.3311221396 0.272083759551 122% => OK
Sentence topic coherence: 0.104999605717 0.0996497079465 105% => OK
Sentence topic coherence SD: 0.0805672762177 0.0662205650399 122% => OK
Paragraph topic coherence: 0.179941914617 0.162205337803 111% => OK
Paragraph topic coherence SD: 0.0453722366411 0.0443174109184 102% => OK
Essay readability:
automated_readability_index: 15.7 13.3589403974 118% => OK
flesch_reading_ease: 54.56 53.8541721854 101% => OK
smog_index: 3.1 5.55761589404 56% => Smog_index is low.
flesch_kincaid_grade: 11.9 11.0289183223 108% => OK
coleman_liau_index: 13.29 12.2367328918 109% => OK
dale_chall_readability_score: 9.42 8.42419426049 112% => OK
difficult_words: 94.0 63.6247240618 148% => OK
linsear_write_formula: 10.5 10.7273730684 98% => OK
gunning_fog: 12.0 10.498013245 114% => OK
text_standard: 12.0 11.2008830022 107% => OK
What are above readability scores?
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Write the essay in 20 minutes.
Rates: 80.0 out of 100
Scores by essay e-grader: 24.0 Out of 30
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.