Causes of the Great Depression include the following:
Federal Reserve Money supply decreased and prices dropped
Banks failed Low investment return Consumers withdrew funds
International Trade Tariffs of 100% were imposed on raw materials entering the United States, thus the exporting countries imposed tariffs of their own. www.minneapolis.fed.org Which do you think was most damaging to the country’s economy?
The failure of the Nation’s banks and the Stock Market crash, caused two-fold damage to the economy.
The banks having invested in Germany before World War 1, had also loaned money to America’s European allies. These banks depended on the interest payments received against these loans, if payments from Germany which were due to the …show more content…
households lost on average nearly $5,800 in income due to reduced economic growth during the acute stage of the financial crisis from September 2008 through the end of 2009. [1] Costs to the federal government due to its interventions to mitigate the financial crisis amounted to $2,050, on average, for each U.S. household. Also, the combined peak loss from declining stock and home values totaled nearly $100,000, on average per U.S. household, during the July 2008 to March 2009 period. This analysis highlights the importance of reducing the onset and severity of future financial crises, and the value of market reforms to achieve this …show more content…
an estimated $648 billion due to slower economic growth, as measured by the difference between the Congressional Budget Office (CBO) economic forecast made in September 2008 and the actual performance of the economy from September 2008 through the end of 2009. That equates to an average of approximately $5,800 in lost income for each U.S. household.
The U.S. lost $3.4 trillion in real estate wealth from July 2008 to March 2009 per the Federal Reserve. This is roughly $30,300 per U.S. household. Further, 500,000 additional foreclosures began during the acute phase of the financial crisis than were expected, based on the September 2008 CBO forecast.
The U.S. lost $7.4 trillion in stock wealth from July 2008 to March 2009, per the Federal Reserve. This is roughly $66,200 on average per U.S. household.
5.5 million more American jobs were lost due to slower economic growth during the financial crisis than what was predicted by the September 2008 CBO forecast. http://www.pewtrusts.org/en/research-and-analysis/reports/2010/04/28/the-impact-of-the-september-2008-economic-collapse Could this happen again?
The answer is absolutely.
History has a way of repeating itself. Banks are trying to repeal the Dodd-Frank Wall Street Reform Act of
Federal Reserve Money supply decreased and prices dropped
Banks failed Low investment return Consumers withdrew funds
International Trade Tariffs of 100% were imposed on raw materials entering the United States, thus the exporting countries imposed tariffs of their own. www.minneapolis.fed.org Which do you think was most damaging to the country’s economy?
The failure of the Nation’s banks and the Stock Market crash, caused two-fold damage to the economy.
The banks having invested in Germany before World War 1, had also loaned money to America’s European allies. These banks depended on the interest payments received against these loans, if payments from Germany which were due to the …show more content…
households lost on average nearly $5,800 in income due to reduced economic growth during the acute stage of the financial crisis from September 2008 through the end of 2009. [1] Costs to the federal government due to its interventions to mitigate the financial crisis amounted to $2,050, on average, for each U.S. household. Also, the combined peak loss from declining stock and home values totaled nearly $100,000, on average per U.S. household, during the July 2008 to March 2009 period. This analysis highlights the importance of reducing the onset and severity of future financial crises, and the value of market reforms to achieve this …show more content…
an estimated $648 billion due to slower economic growth, as measured by the difference between the Congressional Budget Office (CBO) economic forecast made in September 2008 and the actual performance of the economy from September 2008 through the end of 2009. That equates to an average of approximately $5,800 in lost income for each U.S. household.
The U.S. lost $3.4 trillion in real estate wealth from July 2008 to March 2009 per the Federal Reserve. This is roughly $30,300 per U.S. household. Further, 500,000 additional foreclosures began during the acute phase of the financial crisis than were expected, based on the September 2008 CBO forecast.
The U.S. lost $7.4 trillion in stock wealth from July 2008 to March 2009, per the Federal Reserve. This is roughly $66,200 on average per U.S. household.
5.5 million more American jobs were lost due to slower economic growth during the financial crisis than what was predicted by the September 2008 CBO forecast. http://www.pewtrusts.org/en/research-and-analysis/reports/2010/04/28/the-impact-of-the-september-2008-economic-collapse Could this happen again?
The answer is absolutely.
History has a way of repeating itself. Banks are trying to repeal the Dodd-Frank Wall Street Reform Act of