Are we doomed to repeat history...the great depression?

  • Thread starter Thread starter sidney9435
  • Start date Start date
S

sidney9435

Guest
Herbert hoover was president when the market crashed in 1929

the election that year everyone voted democratic...hoping they would fix the economy...it made it worse and depression set in

does this sound familiar


Franklin D. Roosevelt, elected in 1932, primarily blamed the excesses of big business for causing an unstable bubble-like economy. Democrats believed the problem was that business had too much money, and the New Deal was intended as a remedy, by empowering labor unions and farmers and by raising taxes on corporate profits. Regulation of the economy was a favorite remedy. Some New Deal regulation (the NRA and AAA) was declared unconstitutional by the U.S. Supreme Court. Most New Deal regulations were abolished or scaled back in the 1970s and 1980s in a bipartisan wave of deregulation.[24] However the Securities and Exchange Commission, Federal Reserve, and Social Security won widespread support.
typo...the next election in 1932
 
Hard to say - The world is a lot richer today, we have more wealth to work with. We do have the lessons of the depression. Economies were less diverse and smaller. Corporations have more power and reach today. Europe was still dealing with the destruction and demographic collapse from WWI as well as the rise of fascist states.

We'll probably make a fresh set of mistakes that screws up in a different way.
 
Sadly, the real truth is, no matter who wins, a depression would be basically unavoidable due to the company. The winning President could somewhat "band-aid" it. But in reality, he cannot prevent it. So I think your question (If it is a question) is kind of irrelevant.
 
Sadly, the real truth is, no matter who wins, a depression would be basically unavoidable due to the company. The winning President could somewhat "band-aid" it. But in reality, he cannot prevent it. So I think your question (If it is a question) is kind of irrelevant.
 
Back
Top