Essay about Stop the Great Depression

Submitted By jonhmarks
Words: 3680
Pages: 15
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“We have arrived!” I said, quite dramatically. “My partners and I have traveled back to save the world. Listen well. You are approaching what will be the worst economic depression the world has ever known, and, it now being 1927, you have a mere three years to stop this depression from happening.” The crowd was amazed; one woman fainted. One of the politicians seemed puzzled about what we were saying, possibly because the past decade in which he had lived had seen peak growth. Evidently, he had found our cassandrism a bit too much to swallow. In addition to this, with the discovery of hire purchase, even the middle-lower classes were able to afford lavish material goods and maintain a relatively higher standard of living. All of this tended to encourage complacency. So, we were speaking against expectation, and, clearly, not everyone was going to believe our warnings.

Most of the politicians, however, were at least curious about this ‘Great Depression,’ as we were calling it. What was it? They were curious to know. What were the causes, and what would be the end result? “What can we do to stop it?” one voice from the crowd cried out. “Can it even be stopped?” another said. I told them that they hadn't cause for despair, for my partners and I were there to offer our assistance to the world, if only it would listen and act upon what we would say. “What you are about to hear,” I said, “will be highly devastating and somewhat shocking. It is crucial, though, that you suspend your disbelief and attempt to understand all we are about to explain to you. Your entire economy and many lives hang in the balance.” Upon issuing this warning, I proceeded to explain...

“The Great Depression, as the future will call it, will be considered the worst economic tragedy the world had seen in memorable history because this depression ended up affecting not only United States of America but also the rest of the world. You might wonder why this was the case. Well, by 1929 Europe and the rest of the world was still attempting to recover from the devastation caused by World War I; therefore, Europe relied heavily on the United States to aid it in a number of areas. You might think of it like a mother and her very young child. If the mother is separated from the child, and there is no surrogate to be found, it will be impossible for the child to survive.

“It will begin with a great stock market crash, followed by widespread unemployment. I have an article here in my pocket from the New York Times.” (I retrieved the paper from my pocket and, unfolding it, began to read.) 'Unemployment rose and wages fell for those who continued to work. The use of credit for the purchase of homes, cars, furniture and household appliances resulted in foreclosures and repossessions. As consumers lost buying power, industrial production fell, businesses failed, and more workers lost their jobs. Farmers were caught in a depression of their own that had extended through much of the 1920s. This was caused by the collapse of food prices, with the loss of export markets after World War I, and years of drought that were marked by huge dust storms that blackened skies at noon and scoured the land of topsoil. As city dwellers lost their homes, farmers also lost their land and equipment to foreclosure.' (New York Times, np.) “No, no,” several people muttered aloud. “This must not be.”

“As scary as this might sound,” I continued firmly, “I still believe that if we all work together, we might actually be able to stop this from becoming a reality. Although, there won't be an easy solution. You will need to listen to my partners and me about what policies should be imposed and what not to impose. It will call for some difficult decisions that will run counter to what you will be naturally inclined to do. But, after all, what you will naturally do is what leads to the depression.” Several people slowly shook their heads, agreeing.

“First I would like to point out the
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