List what you know personally or heard someone say about the great depression (not the one were in now "aka greater depression".
One little problem with the deflation theory is that wages were cut. The bank my father worked for cut wages across the board 33 percent during the depression. My understanding was unemployment was 30+ percent. Some who had cash at the beginning of the event made money because they could buy cheap. There is always two sides.
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Wow if then doesnt mirror whats happening right now then I dont know what does. Seems pretty much like Obama is going the same route for all intents and purposes although his agenda might be a little different.only 2% of bank deposts were lost unlike that they make it out to be,the reason we have the FDIC to insure bank deposits, so banks make reckless loans with our deposits for high interest if it doesn't work out who cares, the goverment prints the money or ads credit adding to inflation problem. 25% of the population was unemployed so the remaining 75% that had jobs experienced deflation in prices so they could buy more with their money (like todays prices to silver and gold but up in fiat money) the problem was every thing was rationed so you could only buy so much anyway. Their were many families in one house sometimes 1 family per room and people kept everything nothing went in the trash. There were several depressions in the past before the great depression they usually were mild and lasted between 6-18 months like the depression of 1920, the 1929 "great depression" was make "GREAT" by goverment intevention. and the gold confiscation illegal and wasn't a confiscation like door to door, they asked people to turn it in for $20 an ounce and you were fined and/or did jail time if you got caught. 1933 coins are NOT EXEMPT they executive order said rare or collectable coins but never specified what that meant intentionally so they could take anything they wanted. The reason we have all these old rare coins now is because people didn't turn them in to be melted down. The "new deal" was alot of goverment spending that actually wasted resources that prolonged the problem. Roosevelt is seen by Austrian Economist as one of the worst presidents in history, because of uncontolled spending, starting S.S. knowing it wouldn't work but would create a breadbasket of voters for the Democ party, think about it the slaughtered lots of cattle raise the price of meat to help farmers but is it a good idea when people can't afford to buy meat at the price before the rise, or pay farmers subsidies NOT to grow too much corn or wheat so the price doesn't fall? it seems there was a small depression arising president hoover acted to intervent in the free market and then Roosevelt continued the proccess that prolonged and make the depression worse like Bush starting the "stimulus" after the housing bubble and then with Obamas even bigger debt spending for "quantitative easing" New Deal = QE 1 & 2 thats is why we are still in a ressesion or as Austrians econ. call a inflated depression and that is why it is lasting so longand getting worse.
That is the truth of it.During the great-depression people as a whole were different. Crime rates were very low.There was a lot of self reliance, shared suffering. People in generally played by the rules .Our family were, farmers they did not have much but they could get by. You could see the lessons learn in how my father in law did things and saw the world. Wish I had learned more from him.
Not the case now. Now it is all about Me and if I don't have my stuff I am taking it from someone else . Your not going to see that change.
buttermilk was a great treat back then and a quick source of energy.on his death bed he was still dreaming of drinking cold buttermilk out of a bucket while he was working the fields. It seemed that it was a pleasant memory.
My mother was 13 at the beginning of the depression. She saved everything. Bread bags, rubberbands, twist ties, aluminum foil, wrapping paper, you name it, she threw nothing away that she felt she could use later. Unlike my father, she wanted nothing to do with farming. She didn't even want a house plant.