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The Real Cause of the Great Depression

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  • jaredsxtn
    2012-11-21 07:59:45 PM
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    Many individuals blame President President Hoover for the Great Depression, but if one looks closely at the Roaring Twenties there is ample reason to believe that the underpinnings of the Great Depression were set well before that fateful October day in 1929. The Twenties saw massive growth under President Coolidge, but it was growth that was not real. Tax cuts and de-regulation funneled money up to the top while many fell behind. What goes up must eventually come down and down it went. By the time President Coolidge left office, it took only eight months for the economy to completely collapse on President Hoover's lap.

    I believe that we should take a closer look to Mr. Coolidge and how eerily similar the collapse of 1929 resembles the collapse of 2008. Low taxes and de-regulation led to a short period of economic prosperity and then a severe crash. Will we ever learn from our history and start making common sense monetary reforms or will we continue to follow the likes of President Cleveland and others like him?