Question

List the causes of great depression ?

Answer 1

the causes of great depression were,
High production,
overpopulation
rising prices of Good for poor class.

Answer 2

hii viewer here's ur answer

Fear and uncertainty over the financial future of Europe after World War I drove capital into the US and spurred a wave of speculation in US stocks as a safe haven. The US central bank wanted to clamp down on this speculation and began to tighten money. Eventually this broke the back of the stock market bubble in 1929 and sent the markets and the economy tumbling lower in a contagion of financial panic.

What followed in 1931 was a series of sovereign debt defaults and financial chaos around the world.

It began with the default of Credit Anstalt in Austria, a bank partly owned by the Rothschilds and widely considered to be impregnable as the Rothschilds were considered the ultimate “insiders”. The fact that they were also Jewish also contributed to the wave of racism and persecution against Jews that followed as well.

This shook confidence throughout Europe. Capital began to flee Germany and then the UK, with each government forced into default.

If the US Federal Reserve, as it was formed in 1913 had been left alone by the Federal Government it might have been able to effectively combat this crisis as the Fed’s original purpose was to stimulate the US economy and suppress unemployment by buying corporate paper. But in the aftermath of World War I Congress ordered it to also support the US debt.

In the words of economist Martin Armstrong:

“With the Great Depression, the major banking collapse took place largely due to the Sovereign Debt Default of 1931. Banks failed as money vanished from circulation collapsing the velocity. Asset values collapsed and land, which had sold for $2.50 an acre during the mid-1800s, fell to 10 cents. No degree of limiting fractional banking would save the day when the bond market collapses. We see the huge spike in foreign bonds listed in 1928 on the NYSE, and the collapse as defaults began to rage from 1931 onward.

Franklin Roosevelt altered the Fed usurping all power to Washington. The branches remained, but they no longer served the purpose of managing the local economy. It was now one-size-fits-all. It would be Congress who appoints the directors and Fed Chairman, while the technical ownership of a rescue fund for bankers is only there in name, not reality. “

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