Great Depression

1 Pages 289 Words

Could the Great Depression of the mid 1920’s to late 1930’s have been prevented? Could we have prevented laying off 1/3 of the labor force and make people beg for minimum wage jobs during the 1930’s? Could we have prevented people panic selling their stalks in October of 1929 when the stalk market crashed? Could it be blamed on economic problems brought to us by WW1? I believe that the Great Depression could have been prevented and I have the answers to these questions and more in the following paragraphs.

Many people prospered in the 1920’s but many did not. Prosperity was unequally shared the wealthy got wealthier and the poor got poorer. If you were rich you were rich that’s it, but if you were poor you were either a laborer or a farmer. However it wasn’t going to stay that way forever, on October 24,1929 people suddenly started selling there stalks. Over 12 million in stalks were lost on one day but New York bankers held the market. Five days later October 29, 1929 the market crashed again this time for good loosing over $30 billion was lost people named the day black Tuesday. The solution to this problem would have been very simple if the government at the time had any common sense at. All they would have to do is what the government following up the September 11, 2001 event did when everyone started to panic sell their stocks the president rallied all the head honchos of the country and made them make some sort of public message telling the people its ok we don’t need to panic sell our stocks there is nothing bad going to happen you don’t need to sell your stalks....