A libertarian's take on what caused the great depression

[Masterhawk]

A libertarian offers a different take on what caused the great depression

 

[RabidAlpaca]

This is a debate site, not a video sharing site. You should at least be able to form at least a one sentence stance or opinion about the thread you created. You're just being lazy.

 

[Masterhawk]

This is a debate site, not a video sharing site. You should at least be able to form at least a one sentence stance or opinion about the thread you created. You're just being lazy.

I'm sharing alternate viewpoints

 

[RabidAlpaca]

I'm sharing alternate viewpoints

You're lazily resharing videos like an octogenarian Facebook user, so no surprise that nobody watched the video nor engaged with the thread. You can do better.

 

[Moonglow]

The Edsel Ford cause the Great Depression?

 

[OrphanSlug]

The video is too close to trying to rewrite history, we have concrete reasons for the Great Depression (and to be honest reasons why initial reactions made matters worse.)

 

[SocTheory]

The reasons for the Great Depression in the United States lie in gold money. Or linking paper and non-cash money to gold. At the turn of the century, industry in the United States and all other countries grew rapidly. Whereas gold was not mined as quickly. Since the amount of gold money must be equal to the amount of the value of goods in order to keep prices constant. Whereas the lack of gold led to deflation, and deflation led to an economic crisis and the Great Depression. The depression ended with a reform that changed the gold exchange rate of the dollar, thus increasing the amount of paper and non-cash money allowed. Whereas subsequently, so that these crises of monetary circulation did not recur, paper and non-cash money were completely decoupled from the gold rate. The exchange rate of money began to be determined by their exchange rate for all commodities, not just gold. This is the real cause of the Great Depression in the United States.

 

[lemmiwinx]

Ever notice things go to crap when the government gets involved? I have.

 

[Waddy]

The main cause of the Great Depression was credit saturation. Production was geared to credit, which meant that there was too much production. When businesses and households had to finally economize in order to reduce their credit balances, the over production became apparent, and a downward spiral began. Everything else is simply and addendum to this.

 

[SocTheory]

The main cause of the Great Depression was credit saturation. Production was geared to credit, which meant that there was too much production. When businesses and households had to finally economize in order to reduce their credit balances, the over production became apparent, and a downward spiral began. Everything else is simply and addendum to this.

Currency circulation was tied to gold. Where will gold for loans come from when industry grows?

 

[Waddy]

Currency circulation was tied to gold. Where will gold for loans come from when industry grows?

Credit was not tied to gold. Nor were margins, which is a type of credit. Credit saturation finally meant that people had to slow down spending to pay down credit. Credit saturation was a leading cause of the Great Depression. Fractional banking makes a mockery of the gold standard anyways.

Today we evade that problem, or have so far, because we can always create new credit. So we don't know how close we are to credit saturation at this time. One thing to watch is the velocity of money in circulation.