depression - Economic Depression
The Depression was aggravated by poor monetary policy. Instead of pumping money into the economy, and increasing the money supply, the Fed allowed the money supply to fall 30%. The “New Deal” created many government programs to end the Depression, but government programs alone could not end it. Unemployment remained in the double-digits until 1941, when the U.S. entry into World War II
created defense-related jobs.How does the media refer to it when they the present economic crisis is discussed? They refer to it as a recession, an economic down turn, a slowing of the economy, a depression? Actually, they avoid using the term “depression” and constantly ask if there are signs of a recession? The fact is if you are one of the Americans who has been “laid off,” foreclosed on your house for inability to make mortgage payments, working part time because it is impossible to get a full time job and have no medical benefits to rely
on in the event of illness, then you are in a Major Depression…of more than one kind.
I try to stay away from the mainstream news channels, because of my tendency to get migraines. All that abrupt flashing and shouting and ultra-vivid colors and trying to follow the straw men and red herrings and meaningless stories that don’t have points, but are shouted with urgency anyway. I’m surprised epileptics aren’t suing. I do watch The News Hour With Jim Lehrer and the BBC World News on our BBC America cable channel. So, I’m not ignorant of the news, I’m just choosy about who I let into my livingroom
to give it to me.
In its impact on industry and employment, the depression of the 1890s was on a par with the Great Depression of the 1930s. In some places it began before 1890, in a deep agricultural crisis that hit Southern cotton-growing regions and the Great Plains in the late 1880s. The shock hit Wall Street and urban areas in 1893, as part of a massive worldwide economic crisis. A quarter of the nation’s railroads went bankrupt; in some cities, unemployment among industrial workers exceeded 20 or even 25 percent.
Instant Economic Depression
Prosperous times as well as depressions are natural phenomenon that has been around since man started to trade goods. It is a natural part of economic evolution and the sequence of 5 steps forward and 3 steps back.
Economic booms are the effect of an increase in the money supply and economic bust are the effect of a decrease in the money supply.
Latin America and Economic Depression
Uruguay was a nation proud of being world champions at soccer. Twice they had won the gold medals in soccer at the Olympics. And Uruguay was unique in other ways. It was the only state in South America that recognized the Soviet Union. Uruguay was a constitutional democracy led by intellectuals from the professional classes.
