Past Economic Shocks And Precious Metal PricesLCR Coin
The Great Depression Starting with perhaps the most famous economic event – The Great Depression. For many people, even those born many years later, the Great Depression is a familiar benchmark for economic disaster. The massive stock market crash of 1929 sent personal and corporate wealth into a violent and shocking freefall. Unemployment numbers rocketed out of control, and the US entered an almost 20-year economic downturn, only climbing out following the end of World War 2. There were a lot of reasons for the crash, with the Federal Reserve refusing to step in to shore up thousands of collapsing banks as a way of punishing them for wild spending, ultimately prolonging the disaster. Following the start of Great Depression was the New Deal, a controversial measure by President Roosevelt to repair the damage by having the government intervene to artificially stimulate the US economy. This is a decision that is still controversial today, with many people uncomfortable at increased governmental involvement in the markets.