The Great Depression--Who or what was to blame?

[Marv]

It's a pretty debatable topic and opinions tend to be widely spread. Most of us would have studied this in school to varying degrees, so what do you reckon?

Here's the wikipedia link;

en.wikipedia.org/wiki/Causes_of_the_Great_Depression

[dlbpharmd]

Interesting, but I need Brinn to explain to me what I just read.

[Cameraman Jenn]

Oh, Great Depression, I was wondering what the Gret Depression was....

[Lord Mhoram]

My friend wrote a paper recently arguing that, contrary to popular belief, the inept Coolidge was not primarily to blame for the Depression, but that it was a result of a much broader international economic trend. *shrug* Pretty interesting.

[dANdeLION]

Haliburton.



*runs*

[Ur Dead]

If I read the history of the GD. The unemployment rate in the US was 33 percent. That means 1 out of every 3 persons was unemployed. Plus those who were employed didn't make wages that would allow them to spend for luxuries.

There wasn't a FDIC so if a bank failed then you lost your saving.

Alot of laws and safe locks came from that period. FDR was flanbouant enough to make people feel better. And he did try to stop the slide. The war was finally the push to get job back.

Like all things what worked well back then can be abused by others later in time.

[SoulBiter]

Remember also that as banks started collapsing that people got scared and there was a run on the bank. People and business tried to take all their money out at one time. The problem was that the bank didnt have enough money to give everyone their money back. They had loaned that money out to others. A domino effect insued. The banks started closing their doors and going bankrupt. People couldnt get at their money and thus couldnt make payments for rent, for food, for other living expenses. This affected business and they started having to lay off workers.....

[Avatar]

Good point. I'm not sure there is a single event that can be blamed...it was a causal chain.

--A