Great Depression Economic

There is no single theory of what caused the Great Depression and never will be, Morris argues. Macreconomics is a social science, and such a massive event always takes its shape from a terrible confluence of factors. The mismanagement of the gold standard, the growth in consumer credit, the insistence on deflation, and the inability of the major European belligerents of World War I to agree on a reconstruction agenda are just a few of the shocks that pushed the world into an economic Armageddon.

During the harshest year of the Great Depression, Lorena Hickok, a top woman news reporter of the day and intimate friend of Eleanor Roosevelt, was hired by FDR’s right-hand man Harry Hopkins to embark upon a grueling journey to the hardest-hit areas of the country to report back on the degree of devastation. Distinguished historian Michael Golay draws on a trove of original sources - including the moving, remarkably intimate, almost daily letters between Hickok and Eleanor Roosevelt - as he re-creates that extraordinary journey.

El colapso del mercado de valores de 1929 no provocó la Gran Depresión en sí misma, pero fue un poderoso punto de partida simbólico para el mayor desastre económico del siglo XX. En ese oscuro día de octubre de 1929, se perdieron fortunas y el temor a la inseguridad financiera aumentó en todo Estados Unidos y el mundo. En 1932, el punto más bajo de la Depresión, un tercio de los estadounidenses no tenían trabajo e incluso había más gente desempleada que en otros países.

The casino was alive and well in Will Roger's time. It was called Wall Street then as well. But mainstream media allowed for the total exposure of the criminal greed of the Street. Bankers were determined not to allow that mistake to rain on their next financial orgy, so that Will Rogers would have had no voice in the days of the ponzi housing bubble and subsequent crash. Things are different now, and mainstreet is even more vulnerable than in the roaring twenties.