the manufactured great depression

Oct 2012
1,989
407
NC
#1
I heard a theory once (spoken as fact by the person) that the great depression was manufactured to re-distribute wealth to rich powerful moguls by breaking the small guy / business.

It was put for that they actually tested the theory by bankrupting Florida first to see if their scheme would work. It did work, so they did it later at the national level.


I'm a little ignorant about this time period , so I looked it up. Turns out Florida did have a "depression" much earlier than the national great depression.

The Great Depression hit much earlier in Florida than 1929's stock market crash | Bradenton Herald


The economic downturn actually started significantly earlier in Florida, where people were already struggling to make a living wage, if they had a job at all. Many lost their investments and life savings; properties lost their value or were destroyed by hurricanes. The tourism industry took a severe hit, and the citrus industry, which at the time made up over 50 percent of the revenue for the state, fell by more than 35 percent in just a few months. All of this happened in Florida before the nationwide stock market crash in October 1929.
In 1926, people started to realize the bad investments that had been made, and the Florida land boom came to a traumatic halt. Banks and the credit system failed and left the majority of people without their life savings.




I imagine this theory would have some traction with the numans of the world.

Any thoughts?
 
Last edited:
Nov 2017
3,380
85
FL Treasure Coast & South Central FL
#2
Actually, the plain and simple explanation is: people were borrowing money to invest money. That amounts to a PYRAMID SCHEME! It could not have sustained. Even a small downturn caused a domino effect causing it all to come crashing down way farther than it would have.

 

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