Americans need to remember we survived "The Great Depression"

Americans need to remember we survived “The Great Depression”

You know with how things are today, we have it alot easier than say almost 80 years ago when the stock market crashed on October 29, 1929. Look at these facts of that time:

The depression had devastating effects in both the industrialized countries and those which exported raw materials. International trade declined sharply, as did personal incomes, tax revenues, prices, and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by 40 to 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most. At the time, Herbert Hoover was President of the United States. Even shortly after the Wall Street Crash of 1929, optimism persisted. John D. Rockefeller said that “These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.”

“Prosperity will return again”. I love that quote by J. D. Rockefeller. It reminds me of an article I just recently read by Clark Howard which is linked at the end of the article.

The depression era in America lasted almost a decade! One of the causes of the depression era was debt. And we as Americans well know that debt is a killer. Just remember that when you went to purchase that HDTV, ipod or blue ray dvd player, it wasn’t George Bush who stuck his hand in your wallet and swiped that credit card, it was YOU! You have a decision on whats more important, gas and food or party time and entertainment. It’s a choice and that’s what is a great thing about America. It is our FREEDOM OF CHOICE. It’s just a matter of making the logical choice. And I never want to lose this FREEDOM OF CHOICE! You dig what I’m sayin’?

For more on The Depression. Click Here.

Clark Howard on how Americans feel about the economy and I suggest everyone read it. Read the full story.

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Tags: america, choice, Clark Howard, freedom, george bush, j.d. rockefeller, the great depression

2 Responses to “Americans need to remember we survived “The Great Depression””

Ron (International Trade) Coble Says:
June 29th, 2008 at 1:13 pm
I have to register my disagreement with your summation. Although I did not live through the 1st great depression both my parents and grandparents did. My father is 88 now and believes, as I do, that because of the sense of entitlement that has been embedded in a very large portion of our population, this will become a very violent depression.

There are also other arguments against a recovery - the USA is the most indebted country in the history of mankind on the face of this Earth - we can never repay the debts that our government (and fellow citizens) have incurred. There also is the fact that China and India are emerging economic powerhouses and China a super military power with hundreds of billions in surplus.

I wish that I could be as optimistic as you.

Ron Coble
agnerrah Says:
July 3rd, 2008 at 12:07 pm
The are many significant differences between 1928 and 2008:

Our coinage is no longer money.
Only 3% of the population lives on enough land to raise their own food
Too few people have enough family and friends to form a self help group
The population is too dependent on industrial energy production
The population is not educated in basic lifestyle provision
The population has been sold into economic slavery to a foreign power
The disparity in real wealth is exponentially greater

Anyone telling you the coming crisis is something we have overcome before, is selling you a bill of goods to feather their own nest and further insulate their circumstance from the majority of the urban and suburban masses.