The Great Depression was caused by much more than Black Tuesday, the day the stock market crashed. From what I understand, the biggest thing that caused the depression was the loss of confidence in the banking system. There was a run on the banks, destroying their financial base, which in turn forced them to liquify assets. That had the net result of turning what had been good investments into bad, putting the banks in worse conditions.
Warning!!! First Signs That U.S. Consumers Are In Very Serious Trouble
There are a number of very serious differences between the economy of the 1920s and the economy today. I could talk about a lot of different things that fall into this, but the main point is that the government is meddling in the economy much more today, than they were back then. Giving Congress the benefit of the doubt, that meddling has largely been done with the intent of making things better; but Congress seems incapable of learning the lesson that there are always unintended consequences to their actions. Some of those actions include:
- Not allowing banks to fail. While nobody wants to see banks fail, buying up their debt and/or assets to prevent failure or to pass those assets on to other banks at a reduced cost, merely puts off the financial impact, while increasing the national debt.
- Not allowing major corporations to fail. Instead, the government props them up with taxpayer dollars.
- The trillion-plus-dollar spending packages due to COVID relief and the “infrastructure bill” have jacked up the national debt to previously unheard of levels.
- Increased dependence on the protection provided by Welfare and other related programs adds to the national debt, while training people to depend on the government to take care of them, rather than taking care of themselves. In the case of a recession or depression, more people would be receiving that aid, driving the national debt rise even faster.
- The FDIC, which exists to guarantee depositor’s funds, was in its infancy, with only the largest banks as members, before the Great Depression. Today, pretty much every bank is a member of FDIC, which is backed by the US government. Should the FDIC be unable to pay, the government would be forced to, increasing the national debt.
Each of these things has been done to help protect our economy, “cushioning” any impact from a negative turn in the economy. But the unintended consequence is that they all have the net effect of increasing the national debt, one of the major things that is driving us closer to a financial collapse. In other words, what they are really doing is kicking the collapse down the road, hoping that in doing so, they can make it disappear. That just means that when the collapse does finally come, it will be worse.
There’s another hidden consequence of these actions. That is, as the Federal Reserve keeps “printing” more money to meet all these government “obligations,” the value of our money on the international stage keeps going down. In other words, we get inflation. Eventually, Chinese products won’t be cheaper, but we’ll still be forced to pay for them, because we won’t be manufacturing competitive products here at home.
Attention: The US is Facing The BIGGEST Threat Of The Century!
So pay chose attention because this video will change your life forever for the good!
Prepper1cense 
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