Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: CowboyJay
Economic policies did not cause the Great Depression. That was caused by the combination of an over-valued stock market and poor agricultural practices. There was NO labor shortage during the depression.

You have overlooked what may have been the largest factor of the Great Depression. Stock market panics and agricultural problems had occurred plenty of times before this. What made the Depression different was a collapse in the American banking system that began around 1930. 30% of the American money supply evaporated as small banks failed throughout the country. This was a deflationary event without parallel, and made the American recession far greater than that of the rest of the developed world.

79 posted on 02/19/2006 1:07:44 PM PST by Pelham ("Borders? We don' need no stinking borders!")
[ Post Reply | Private Reply | To 57 | View Replies ]


To: Pelham

Thanks for the info :)


83 posted on 02/19/2006 11:14:13 PM PST by CowboyJay (Rough Riders! Tancredo '08)
[ Post Reply | Private Reply | To 79 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson