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What made the Great Depression so much worse than previous downturns?
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>>1815677
The fact that the national unemployment rate actually was over 1/3rd of the working population, contrary to meme stats that claim the same is true today.
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the president literally stopped giving a fuck for a while
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The free market
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>>1815684
Well Greece is getting close to that, the poor lads.
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It was kind of like the recent housing bubble where the government guaranteed toxic assets repackaged as subprime mortgages except here the federal reserve was guaranteed as a reliable lender of last resort for all banks so it affected the entire financial system.
Because it is unlikely someone would be so inept it is possible both were intentionally orchestrated to aid in political efforts to extend government control over the economy.
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People can remember it
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>>1815730
Five posts in and the big gubmen conspiracy theory libretardians are already here.
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>>1815677
because paper money is tried to the federal reserve, naturally, and they printed more bills than the actual amount of money the reserves or banks actually held.
this is perfectly fine to do, so as long as everyone doesn't turn in their bills for redemption at the banks all at the same time, which guess what? exactly that happened to cause the great crash.
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>>1815684
How did it come to be 1/3 and not a lower number?
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>>1816854
By counting all people who can't work(elderly, children, disabled, etc.) and combining that with people who don't work, unironically.
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>>1815677
Free market capitalism. Until government intervened the country was running itself into the ground.
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>>1815730
>It was kind of like the recent housing bubble where the government guaranteed toxic assets repackaged as subprime mortgages except here the federal reserve was guaranteed as a reliable lender
>Federal Reserve
That's not how you spell "Latin America and German municipalities."
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>>1817230
Ironic shitposting is still shitposting
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>>1817358
He's right and literally only indoctrinated Jewcucks from mises.org would disagree.
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>>1815832
Do you have extreme mental retardation, because that is too stupid even for an autist.
The Great Depression was caused by deflation. This was the most significant feature of the event which you should have learned in basic school was that IT WAS FUCKING CAUSED BY DEFLATION!
Maybe in your infinite wisdom you are thinking about Wiemar Germany, but really now... How can you be that fucking stupid.
The US was on the fucking gold standard until 1971. That took 5 seconds of googling.
DO YOU NOT UNDERSTAND WHAT THE GOLD STANDARD IS! ARRRTGH THE RETARDATION!
Even thought the Federal Reserve existed they weren't printing money because they had the fucking gold standard.
Arrrgh. Too much herp derp.
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Balance Sheet Recession
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>>1815677
it also fucked the rest of the world and caused WWII
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Jews who have no understanding how economy works were behind it.
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>>1815677
Government intervention. The same reason the depression essentially lasted until the end of WW2 thanks to the new deal.
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>>1815677
Fucking gubmint fucking up with the free market.
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>>1815743
Most politicians are looking to achieve short term political goals and quick fixes, not to genuinely represent voter's interests. To me this is a moderate position and anything else is incredibly naive, if I'm wrong please correct me.
Otherwise your post is just one among many "hurr ur stoopid" posts seen all over the internet.
>>1817272
What are you referencing? Latin America and Germany borrowed heavily from the US in the 20s, but it is not like they could easily retrieve all the money lended.
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>>1815677
Roosevelt meddling with the recovery.
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>>1820475
>>1820504
>>1820649
(You) got me
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>>1820615
This here shows you a monetary policy that is too tight for the circumstances.
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>>1818270
t. actual economist
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>>1820196
Always trigger me when some retard attribute the poverty and inflation in 30s Germany to the unenforced Versailles treaty instead of the Great Depression
Thread posts: 29
Thread images: 7
Thread images: 7