David Kennedy on the Causes of the Great Depression
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Gibberish! Milton Friedman (for one) explained the why and how the Great Depression came into existence!
Iamfatbrain 2 years ago
Banks loan money they do not have, it becomes apparent when society has lost its money and cannot pay its debt to the bank, the bank in a bind collapses. This is called a run on the bank and in 1927 if formed the great depression and in 2008 a credit crisis.
The Great Depression caused by massive marginal lending in the USA that ecompassed the major funds of the globes fractional lending banks ran. The situation fuelled extreme groups like the Nazi party resulting WWII.
TTTopGun 2 years ago