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what caused the great depression? what were the global effects?

the great depression started in 1926 in england, and spread to the rest of the world and finally to the us in 1929.


the primary caused where systemic collapses in the financial sector caused the initial problems, and was exasturbated by protectionism and anti-inflationary policies. Had the government(s) not done this the depression likely still would have been but it would have be drastically lessened in scoop and scale.


*the very root cause of the great depression was england reverting to the gold standard, and the united states trying to support their effect in the mid 1920's
 
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
 
The Unitarians are the primary culprits.

Also, Fiat money caused it. Turns out their money was even worse than their cars.
 
Originally posted by: ironwing
The Unitarians are the primary culprits.

Also, Fiat money caused it. Turns out their money was even worse than their cars.
Click to expand...

The world was more or less on a gold standard before and during the GD. Sorry, you fail.
 
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
 
Originally posted by: Queasy
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
Click to expand...

Speaking of FDR...
I watched a 4 hour FDR program on History Channel International last night.
I started watching in the middle around 10pm and stayed up until 2am to see the parts I missed.
They did it from 8pm-12am, and again 12am-4pm.

It was very interesting.
 
Originally posted by: LegendKiller
Originally posted by: ironwing
The Unitarians are the primary culprits.

Also, Fiat money caused it. Turns out their money was even worse than their cars.
Click to expand...

The world was more or less on a gold standard before and during the GD. Sorry, you fail.
Click to expand...

so how deep is that sarchasm you just fell into?
 
Originally posted by: Queasy
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
Click to expand...

The New Deal didn't spend much money at all, which was actually part of the problem. While it was WW2 that got us out, ND had lowered unemployment by more than 25%.
 
Originally posted by: ElFenix
Originally posted by: LegendKiller
Originally posted by: ironwing
The Unitarians are the primary culprits.

Also, Fiat money caused it. Turns out their money was even worse than their cars.
Click to expand...

The world was more or less on a gold standard before and during the GD. Sorry, you fail.
Click to expand...

so how deep is that sarchasm you just fell into?
Click to expand...

Yeah, after his reply back (above) I saw what he said about cars...lol.
 
Originally posted by: LegendKiller
Originally posted by: Queasy
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
Click to expand...

The New Deal didn't spend much money at all, which was actually part of the problem. While it was WW2 that got us out, ND had lowered unemployment by more than 25%.
Click to expand...

The unemployment rate hit a high of 25% during 1933. It fell to 14% but rose back up to 19% right before WWII started in 1939.
 
Originally posted by: Queasy
Originally posted by: LegendKiller
Originally posted by: Queasy
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
Click to expand...

The New Deal didn't spend much money at all, which was actually part of the problem. While it was WW2 that got us out, ND had lowered unemployment by more than 25%.
Click to expand...

The unemployment rate hit a high of 25% during 1933. It fell to 14% but rose back up to 19% right before WWII started in 1939.
Click to expand...

25% - 19% = 6%/25% = ~25%.

The increase from 14% - 19% was a double-dip commonly associated with the increase in the top tax bracket to 79%. removing that results in the ND largely working.

 
Originally posted by: Queasy
Originally posted by: LegendKiller
Originally posted by: Queasy
Originally posted by: Linflas
Originally posted by: Queasy
What...they don't teach this in school anymore?
Click to expand...

What I was taught in school and the reality are 2 separate things. When I was in K-12 it was pretty much taught that it was all caused by greedy Wall Street traders and Herbert Hoover. Fortunately a savior in the name of Franklin Delano Roosevelt came along and single handedly saved the entire country from ruin and despair.
Click to expand...

Heh, they did lionize FDR way too much since it was essentially WWII that got us out of the Great Depression while the New Deal spent spent spent. However, I was taught it was a combination of the stock market crash, a run on collapsing banks, Smoot-Hawley, and other factors.
Click to expand...

The New Deal didn't spend much money at all, which was actually part of the problem. While it was WW2 that got us out, ND had lowered unemployment by more than 25%.
Click to expand...

The unemployment rate hit a high of 25% during 1933. It fell to 14% but rose back up to 19% right before WWII started in 1939.
Click to expand...

The program I saw yesterday said unemployment decreased from 25% at the beginning of his term to 20% by summer/fall 1941 before his 3rd election.

While it may not be a "25%" drop, it was a 20% drop.
No need to debate on semantics.
 
Originally posted by: LegendKiller
Originally posted by: miketheidiot
Originally posted by: oboeguy
The Fed did it
Click to expand...

sorry, nope
Click to expand...

Mike is 100% correct.
Click to expand...

So you (both) disagree with Big Ben (Bernanke), the current HMIC of the Fed? Nice.

Read it and weep

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.
Click to expand...

 
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