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To: Perseverando

There were a bunch of mistakes that led to the Great Depression. In no particular order:

The use of margin purchases in the stock market. This has more recently been duplicated these days with sub prime housing mortgages. People with a dime could buy a dollar of stock, as long as they promised to eventually pay the other 90 cents. Gambling.

The physical market was horribly price deflated. Prices were low because there was no money to buy things.

Hoover tried to fix things from the top down. This doesn’t work when people on the bottom are starving, and can’t wait.

Even with the Dust Bowl wiping out thousands of farms, there was still far too much food for people and animals, so the bottom dropped out of the already low price for food.

There was no international buffer because of the international depression.


7 posted on 12/12/2019 5:13:45 PM PST by yefragetuwrabrumuy (Liberalism is the belief everyone else should be in treatment for your disorder.)
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To: yefragetuwrabrumuy

Let’s see: A major market crash after the GOP wins total control of the house + Wh. I say wipe the slate clean b4 the rats know what hit them. Get rid of all/most of government. Better yet we have 70 senators with Hillary in the WH. Slap her around.


8 posted on 12/12/2019 5:20:27 PM PST by DIRTYSECRET (urope. Why do they put up with this.)
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