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by nisha on February 8th, 2009

nisha

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The Great Crash of 1929 was the immediate but not the mostimportant cause of the Great depression Do u agree or disagree why?

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  • by bagicide stayed 10 months too long on February 8th, 2009

    bagicide stayed 10 months too long

    I'd have to say I agree. It was just the boil bursting. It had been coming to a head for a long time before that. We were in a terrible drought in most of the country, just like we are now. We'd had people buying into a new technology (cars) in droves, just like they are now (computers) and the demand had peaked, just like now. Everyone who was going to buy one had. We had tremendous personal debt, largely due to those cars. We had stock market manipulation and Ponzi schemes, just like now. We had tremendous resources going into Prohibition, just like now. We had a complete disinterest in enforcing the rest of the law, just like now. In fact, I'd say that almost every law or regulation put in place by Roosevelt to prevent a return of the Great Depression has been deregulated by either Reagan or Clinton. I think Clinton's deregulation of the banks and energy was the last straw. It took a few years for the effects of Enron and Wall Street and the loan sharks known as store-front check cashing to be felt, but boy are we feeling it now.

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