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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (457451)2/18/2009 1:53:21 PM
From: i-node  Respond to of 1576346
 
Umm, let's see. High consumer debt, coupled with stagnant wages despite rising productivity and a growing income gap between the well off and the middle class. When the market crashed, people stopped spending and tried to hoard what money they had, which led to a deflationary spiral.

While these might have been contributors to the Depression, the fact is that these are "normal" things that happen during economic cycles.

There is nothing "abnormal" about up and down economic cycles. Shit happens.

You might do things to speed up or slow down one event or another, but you're not going to do something that stops the economic cycle from occurring.

Depressions aren't caused by presidents.



To: combjelly who wrote (457451)2/18/2009 2:22:14 PM
From: tejek  Respond to of 1576346
 
What did anyone do that caused the Great Depression?"

Umm, let's see. High consumer debt, coupled with stagnant wages despite rising productivity and a growing income gap between the well off and the middle class. When the market crashed, people stopped spending and tried to hoard what money they had, which led to a deflationary spiral.

Let's not forget that the whole stock market was a house of cards ready to fall...people were encouraged to borrow money to buy stocks.


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