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Originally posted by paranoiaFTW
I am 14 and understand why the economy is collapsing. Despite what you think teenagers do understand those big "adult words" that are used to explain the situation.
Originally posted by Sestias
The more money that is in circulation the faster the economy will rebound.
Herbert Hoover, the president at the beginning of the Great Depression in 1929, cut back on all government spending, told people to stop spending and save, and in general advised the public to hunker down for a storm. The result was less and less gold and money in circulation, and that, of course, deepened the depression. Hoover is not remembered fondly by history. The tent cities that the dispossessed homeless put up were called "Hoovervilles" in his honor.
Franklin D. Roosevelt, the guy who created Social Security, the CCC, the WPA and other big government spending at the height of the depression is remembered well.
Those who do not remember history are doomed to repeat it.