Social and Cultural Effects of the Depression. Sports provided a distraction from the Depression. Also new forms of expression flourished in the culture of despair. The Great Depression brought a rapid rise in the crime rate as many unemployed workers resorted to petty theft to put food on the table.
They could not have grown crops from the fresh wet soil and they couldn't travel along the river as good.
January 17, 2018 09:00 ET | Source: Umbra Applied Technologies Group, Inc.
TAMPA, Fla., Jan. 17, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE Umbra Applied Technologies, Inc. (OTC:UATG) Chairman is pleased to issue the following letter to shareholders today:
January 17, 2018
UATG Shareholders
Re: Umbra Applied Technologies Group, Inc.
2018 Chairman’s Letter
(UATG:PK) Year 2018
Chairman's Letter
“UAT Group and its subsidiaries, operate with the understanding that what we do matters and as such our decisions bear consequences.”
Dear Fellow Shareholders,
First, I would like to wish everyone a prosperous New Year and I hope everyone enjoyed the holidays.
As the Chief Executive of a publicly traded company I am the fiduciary for all shareholders, many of whom have invested in UAT Group based on long-term goals such as retirement or to pay for a childs higher education. As such, I advocate and otherwise direct corporate governance practices that are in keeping with long-term value creation for our shareholders and clients. Last year I asked my executive team to help me outline a new strategic frame-work for long-term value creation that could be completed within the year. I am pleased to report that we have been successful in our execution and were so against significant odds.
Over the course of the past 12 months, many of the assumptions on which our plans were based, including low interest rates on capital and an expectation for continued globalization, have failed to sustain despite indicators to the contrary. With U.S. reflation, increasing rates, renewed growth, the increasing turbulence in Asia as a catalyst to geopolitical tensions, the prospective withdrawal of the United Kingdom from the European Union reshaping Europe and the United States undergoing a fundamental reformation of long held fiscal strategies; the economic environment has been and remains quite volatile. This does not mean that this company or the market at large is expected to be impacted negatively but it is a factor when crafting a long-term execution strategy.
<span>In the 1920 the German economy collapsed as a result of B. Inflation. This inflation was so severe that it was referred to using the term hyperinflation. The cause of the hyperinflation was the massive war debt aquired by Germany as a result of the First World War. At the outset of the war Germany had removed its currency from the gold standard and borrowed heavily to finance its campaigns. The resulting debt meant that German currency was not backed by any real asset and so it lost purchasing power.</span>
