In 1929 the country and the world came crashing into unbelievable grief and pain. The depression wiped out the wealth of the nation’s middle class, leaving, as usual, the wealthiest of citizens to flourish. The nation’s leadership was being led by the very people that caused its failure, no different than in 2008, as the leaders that caused the bubble were the one’s given the public funds to fix it
Politicians rarely visit cause and effects. The cause of the depression was many, but the nail in the cause and effects was a 16 percent tariff on goods coming into America signed into law as the world market was faltering; this was to protect American manufacturing. This type of leadership was almost the same in the housing market, with unpayable loans for houses that many were bought and resold with no humans ever living in them. The lowering of the score to buy added to this bubble was again the cause and effect that caused the nation to teeter on failure.
As a half-ass inventor with a workable patent, I was taught cause and effects. Everthing is connected changing one thing makes other parts of the object or problem to explode another direction. Passing laws with no idea the cause and effects is called russian roulette. The money in the past caused out landish and stupid ideas to fall to the wayside as being not econmically fisable. The new uncontroled spending has removed the only cause and effects that kept the country somewhat under control. Our new politicians of the last 40 years should be considered traitors to the nation’s future.
Hyperinflation is easy to understand; all wealth will be lost to inflated dollars, all saving wiped out; go to Google and type in Venezuela. The same type of leaders leading that country is leading America at this point and time.