Wednesday, November 5, 2008

Not Again! The Great Depression

For anyone interested in history the following excerpt and attached link gives some history on the Great Depression. Similiar parallels even though the current situation is no where close to then, but reading policies and actions from then, one can conclude that current policies or proposed future policies could lead to a repeat of history because of our failures to learn from history.

Great Depression in the United States, worst and longest economic collapse in the history of the modern industrial world, lasting from the end of 1929 until the early 1940s. Beginning in the United States, the depression spread to most of the world’s industrial countries, which in the 20th century had become economically dependent on one another. The Great Depression saw rapid declines in the production and sale of goods and a sudden, severe rise in unemployment. Businesses and banks closed their doors, people lost their jobs, homes, and savings, and many depended on charity to survive. In 1933, at the worst point in the depression, more than 15 million Americans—one-quarter of the nation’s workforce—were unemployed....


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