I try to learn more in depth about topics that interest me. I was reading about the Great Depression, but it is so hard to understand for me what exactly cause it, as I read it, it feels like a mix of fancy words that don’t tell me much (likely due to my lack of knowledge and english not being my 1st language). So, could anyone explain me in simple words what exactly cause the Great Depression?
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Same thing that causes almost every recession – the Republican love of “deregulation.” For the past 100 years, there has been a pattern of Republicans screwing up the economy, Democrats coming in and getting everything pretty much straightened out, rinse and repeat.
It takes a little while for government policies to affect the economy, so there is a lag, but it keeps happening. Harding/Coolidge/Hoover’s Great Depression got fixed by FDR, (Truman/Eisenhower was kinda the reverse but that’s mostly because there’s always a recession after a big war), Nixon/Ford inflation crisis resolved under Carter (yes, there many other factors), Reagan/Bush S&L crash/recession got better under Clinton, W caused a big recession and Obama fixed it, you could argue Biden is fixing Trumps’s economy (though I think, as much as I hate to give Trump a break, COVID threw a monkey wrench into everything.
Thanks for attending my TED rant.
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