I have to do a report on the causes of the great depression, and I’ve already got the crash of banks and stock market down, so what happens next?
trying to fix it was the biggest issue. no one remembers the depression of 1920 because nothing was doen about it and it was over in 8 months. the free market system works if we let it.
February 21st, 2010 at 9:05 am
trying to fix it was the biggest issue. no one remembers the depression of 1920 because nothing was doen about it and it was over in 8 months. the free market system works if we let it.
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econ101
February 21st, 2010 at 9:40 am
What happened is the very same thing that is happening today. The "progressives" and that includes Franklin D. Roosevelt thought that government could solve all the problems of a normal free market system that has natural cyclical ups and downs. They thought that by raising taxes and spending on governemnt programs to "smooth" out the ups and downs, they could create a socialist UTOPIA. This is like telling Mother Nature, hey, we little piss-ant humans are going to change things so that the leaves no longer fall off the trees come autumn, and we’re going to stop the snow from falling come winter. Capitalism is closer to the most natural occurances in the world than anything the "progressives, liberals, Marxists, Fasicist, Democrats" can come up with.
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February 21st, 2010 at 10:00 am
The republicans were in office at the time – they didn’t take much notice of the Great Depression. In fact Hoover said, "This isn’t a real recession – it’s just a little depression" – well – "Depression" stuck. So anyway, the republicans were really slow to have any programs for relief. As the economy collapses further and further, it drags down more and more industry, home building, food production – everything – no work – no money – can’t pay the bills – the bill collector can’t get paid – etc.
Anyway, after the republicans engineered this last big recession we’re in now, at least Obama came in and fed some money into the system to keep whole sections of the economy from collapsing entirely.
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