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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Another issue is that all of the safety nets we now have in place (some of which the conservatives are trying to erase) did not exist then. There were no limits on margin buying in the stock market. There was no FDIC to protect depositors when a bank got in trouble, there were no social safety nets when people got in trouble. Add in the enormous imbalance in wealth distribution (like now) and you have a recipe for disaster. When the collapse began, conservatives in control did all the wrong things to stop it.
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