Results for - What do you know about the Great Depression?
2,197 voters participated in this survey
1. As some of you may know in the 1930s the world suffered a catastrophic financial collapse known as the "Great Depression". During this time period unemployment was around 25%, consumer prices dropped by 48%, farm prices dropped by 60%, international trade dropped by 50% and over 5000 banks failed. Did you know that the Great Depression was this bad?
2. A lot of the media are comparing our present economic situation with the Great Depression of the 1930s. For those who lived through those times it was referred to as "the Dirty Thirties". Do you know anyone who lived through this time?
3. The majority of experts believe the Depression was caused by uncontrolled speculation on Wall Street and banks that were not regulated. To buy shares you only had to put down 10% in cash. The rest of it you borrowed from a bank with the shares as collateral. On October 28 and 29, 1929 (AKA Black Monday and Black Tuesday) the Wall Street stock market crashed. Stocks dropped by 68% and in today's dollars 319 billion dollars were lost by investors. Does this seem similar to the stock market crash we had in 2008?
4. Once the US market crashed the rest of the western industrial countries markets also crashed plunging the entire world into the worse economic down turn in history. It took over ten years for the world financial markets to start to recovery and full recovery wasn't made until after WII. Presently economists are predicting that it will be 10 to 15 years for the world to recover from our "Great Recession". Do you think they are right?
07/19/2014 Living 2197 26 By: ktkat1949