the info I was given in school never satisfied me, it was something like
>muh overproduction, peasnts couldn't afford shit while the economy grew too fast.
On the internet however, some libertarians yell that it was the FED all along, some Sup Forumsacks will say it was the jews and some will even say that those two are synonymous. Reddit meanwhile will claim that it was the day capitalism got BTFO. So which one is it?!
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(((think)))
liquidity crisis, people were dumb back then
It was the federal reserve. When the economy started to go into recession they brutally contracted the money supply which was the opposite of what would have possibly helped. That made the recession the worst depression in modern history.
The Great Depression was the result of currency devaluation (beggar thy neighbor) and a bubble in securities from World War I that they were trying to sustain.
Feds are increasing our money supply at the moment, do they know what will happen when they can't?
You need to study it for a while before you wrap your mind around it but it was the FED, which is a kike creation. In 1913, the FED was allowed to takeover the money system. They allowed a huge credit boom which then ended in the credit bust. Issuing credit leads to inflation and when they raise rates, it all crashes.
They tightened credit before the recession, not after. After, they tried to 'push the string' and use easy credit to re-inflate the economy.
The top corporate tax bracket in under FDR was 99.5%. That assuredly fucked some shit up.
This famalam.
That's why George W Bush was a great president, because he avoided this in 2008.
>posting a french source
are you just testing if people actually link .pdf links?
so they refused to print money? sounds like they did it the libertarian way and failed, hmm?
But surely that was not the actual rate that was paid? I know that the supposedly high marginal tax rates of the 50's and 60's were actually not as high because of various exemptions.
It wouldn't have mattered if they had printed more money; it would have just ended up as excess reserves.
It was the FED all along.
(((The fed, the banks, shit mortgage bond peddlers, gibsmedatshouse policies, no glass steagle, crony capitalism, corporate socialism.))) So basically it was jews. And stupid people. And greedy people (greedy poor and greedy rich). So... It's just what people do.
Good thing we figured that pickle out now that we have QE and NIRP/ZIRP
This, + FDR pushing the new deal collapsed market-driven recoveries.
Exemptions were given if you reinvested your profits in growing your business (ie. more employees, better equipment etc.) or surrounding infrastructure (local transport/amenities for your workers).
In other words, the tax system was designed to encourage against the stupid shit that goes on today with many companies today where they literally suck money out of circulation and squirrel in away in offshore bank accounts.
Of course similar(ish) types of tax exemptions exist today but in many ways, corporate responsibility was much better in those days. Maybe not in regards to health and safety but definitely in terms of the social contract businesses make with the state and populace when it came to "sharing" of the fruits of labour.
This FDR didn't "get us thru" the Depression, he was one of the biggest players in prolonging it. I'm surprised how many Sup Forumsacks parrot that shit tier high school meme.
Ah, I knew it was something like that.
It's really pathetic how government and business have cooperated over the years to fuck over the middle-class. Wages have been stagnant for decades and we're down on goods-producing jobs, but it doesn't matter as long as we can inflate the price of securities and run towering government deficits.
>implying that 99.5% tax rate with exemptions is business fucking over the people
>that's not government fucking over the people who run businesses and employ people
There are a lot of businesses that are in cahoots with the government but I'd say there are many who aren't, your local baker isn't going to be calling his Senator for some favors.
Never said that 99.5% tax rate is business fucking over people, just was not surprised that the tax rate was not really that high.
But I agree with what you say. The businesses that seem to thrive today are the ones who don't actually produce anything.
>not really that high
That's a good thing, the government is too large and too inefficient to justify the taxes we are paying.
>Comparing apples and oranges
Printing money just creates excess reserves
I agree. I really do not like what the govt. does with our money; picking fights, spying on us and favoring certain businesses are really not worth spending money on.
>favoring businesses
This is the biggest problem, there shouldn't be any favors, for example a solar energy company that has been bleeding money in California has been given Millions of dollars, when it should be failing for being inefficient.
This. He was the worst possible president to have during the depression. The new deal was an abysmal failure. The Democratic Party won elections because of Roosevelt’s talent for turning on the spigot of federal dollars at the right time (before elections) and in the right places (key states and congressional districts).
That's not even the worst; think of how much the debt and equity markets have soared while GDP has been trudging along, and median income has been stagnant. So many companies get free money to speculate in what are essentially financial casinos, not producing anything, and expecting to be bailed out when things go south.
Yeah, it's a big racket, that's why we need to get good people into the government, even local stuff can make a difference. My community has a problem with houses getting flooded and we need to drainage system, meanwhile where my uncle lives, they have a surplus and their bills for garbage pick up have been cut because they have enough cash.
>to drainage
*a new water
If Roosevelt didn't win the election, American would have never joined WW2, and Hitler would have crushed the Allied forces in Europe and helped his fellow Europeans experience an economic miracle.
America would have never risen to a super power and you wouldn't be making even half of what you're making now.
Be sure to thank the Jews.
When I learned about it as a child it was blamed on people abusing credit because it was new and they were just too stupid to understand how it worked. They also said that it wasn't exactly obvious what had happened and that it was a mix of things, but mostly had to do with the credit abuse.
>all this implying
Hitler was shit and lost, deal with it.
The coming crash will be multitudes worse that the crash of 29. The Fed already admitted they caused the crash. This is old news.
Hitler wanted to save Europe from international banking cartels.
He wanted all Europeans to experience the same economic miracle that Nazi Germany experienced.
With the Jews pushing their agent Roosevelt into the war, the US has destroyed Europe and became the world super power.
For all the shit talking American Sup Forums users do to the Jews, they have benefited immensely from Jewry.
I know it makes you mad.
>Hitler wanted to save Europe
>He wanted all Europeans to experience the same economic miracle that Nazi Germany experienced.
Kek, tell that to the polish
The great depression was preceded by a debt-fueled economic boom similar to 2008 but instead of housing, it was centered around consumer goods and services. Eventually, when the debt bubble burst, they had a nasty case of debt deflation on their hands.
Anyone who says the Smoot-Hawley Tariff Act had anything to do with it is an imbecile pushing free trade BS.
The Poles, through the influence of Jews, were massacring Germans in their lands.
Germany invaded Poland to save their fellow civilians.
There will be a major crash in 6-10 months, screencap this
The place I work at just up and moved to Mexico. Half of nothing is still nothing. Fuck those slimy globalist kikes.
Yeah, eventually the Jews betrayed us.
That's our punishment for our Sins against Germany.
America was already a superpower user. We were already the world's largest economy for many decades by that time.
Only by relative measurements.
I'm talking in absolute terms. The US benefited immensely from the aftermath of WW2, because we were able to monopolize almost every single industry.
Americans would be a lot poorer today had they never interfered in WW2.
looks familiar?