What started the Great Depression

[Buck]

A look at history can often tell you what went wrong so you can avoid
at least some of the worst of it.

http://www.shambhala.org/business/goldocean/causdep.html#political

http://hoover.archives.gov/exhibits/Hooverstory/gallery06/gallery06.html

[CarolAnn]

Well, that shambhala link has sort of a zen error message:
"You step in the stream, but the water has moved on. This page is not here."

The second link worked, and it read about like I expected it to - the textbook classic explanation of black Friday and the speculation that gave Wall Street it's big crash.

I haven't seen much (if any) evidence that people learn from history - ever. If they did, there would never be a second marriage, a second child or a second mortgage! ;)

[Unemployed_trader]

"What started the Great Depression" Most people think it was the market crash of 1929 and forgot to go into the details. After the market crash the U.S. economy was still intact since less than 10% of the population was invested into the stock market. It was governments constant intervention that made it worst by spending money that it didn't have therefore printing was its only option. 3 years of spending resulted with a watered down the U.S. dollar(inflation) destroying most of everyone's life savings. This is when the depression happened!
To control the sheeple from any independence FRD confiscated all gold for fiat dollars at $20.67/oz. (executive order 6102) and then turned around and sold them for $35/oz. to the world market. The end result was even worst and the U.S. dollar dropped another 41%.
WW2 broke out so our efforts was focused on trying to survive rather than owning 2 or more homes. It was Eisenhower who really won the war and not the control monger FRD. If Eisenhower protracted the war we would be in far worse shape and the Marshall plan would be far too costly to employ.
SO far all I see is the first phase and hopefully not the other two.

[walls0stone]

one can look at all those facts, and yes I agree they were all factors. but in my own heart of hearts I bleave the event was brought around by the roaring 20's and like children in the Bible..the lavish spending and selfish acts, got us a kick in the head. BUT I feel that the DEP was actualy Devine intervention as we were a spoiled world, that was about to enter into a second world war (and only God knew that) and so a generation of people were fired like clay into stone so that when they were needed, they could be used for his grace.... to let men go to war, and women go to work with out so much as a wimper.

I feel todays situation will humble many and those people will be used for a task much like before.

[flatwater]

Good post wallsOstone and I agree 100%. The most we can do is pray that the people will wake up but as I read the story that doesn't happen.

[Unemployed_trader]

I hope it is only a speed bump that we are in but today 90%+ of the population one way or the other have money invested into the market.

The negative reason was when the Democrat's did a my way or the highway to the Republican's and locked them out in the rewriting of the stimulus package. This was a power grab using the public's money to by votes and new voters. This is how the Democrat's did it in the 1930's and is now what they are doing again. I can tuff out a spending spree like this one but if you've seen a drug addict then you know that democrat's are looking for more spending. Bend over and pull out your wallet Crazy Nancy and Dingy Reed need more of your hard earned cash. :o