Question by samantha: How would you compare the Great Depression to today’s recession?
I learned in economics that the Great Depression itself is nowhere near comparable to today’s recession, but I’m wondering how to compare the two in terms of reactions. As in, how America has reacted to each.

Thanks!
I know it’s not comparable economically, but I’m saying in terms of how people reacted.

Best answer:

Answer by PLANETEARTH
Its the same thing just 2010

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Question by : What would be the most effective way (in your opinion) to get out of the current economic recession?
As you may know, the world is over populated…war is one of the options that had been used in the past to end economic disasters? Do you think war is a viable option?

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Answer by Well Duh!
How about quit spending? Not a good time to grow government. This administrations talks about cleaning up the mess it was left, but they are only creating more debt and more mess. We don’t need another war.

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Question by Knight: What would the second great depression look like?
I know the world narrowly avoided the sencond great depression in 2008 and 2009, but what would that have looked like? I am having a hard time visualizing it.

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Answer by Spock (rhp)
stay tuned — it’s still coming.

unofficial unemployment is already at 20%. declining wages will soon be the norm.

batten down the hatches — offload debts and payments. things are going to be rough for about 20 or 30 years.

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Question by Abbey: What is a good book on the great depression that a teenager would enjoy reading?
I have to read a book on or about the great depression. I don’t normally read school assignments, but since i’m failing and i’m allowed to choose what book I want to read, I suppose I should read something interesting. I’m a mature 16 year old and would like reading about maybe drugs in the 1930s or something along the lines. Pretty much just anything that would keep my attention and would also let me learn something.

Best answer:

Answer by Ty
twilight

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Obama could use basically the same argument he uses now – just leave out the “recession” word and replace it with “economic boom”.

Obama could say we need to spend like crazy during good times, because the roads are falling apart and the country needs a overhaul.
Obama could argue either way and still sound convincing.

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Answer by Ghost of Tom Joad
Actually, recessions are when you need to spend money. Look up Keynesian economic theory if you don’t understand why. Bill Clinton showed that economic boom times is when Democrats can balance the budget, but now is not the time for a balanced budget. A balanced budget would actually make this recession much worse.

I can turn this around though and ask why Republicans always ask for more military spending regardless of how secure we currently are or whether we are at war or at peace. They also ask for tax cuts (mostly for the wealthy) regardless of the budget situation or the economic situation.

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Answer by kamcrash
I don’t know about the cost of books, but I can give you some information from my grandparents.
They were married in 1928 and lived in Northern Utah.
During the depression, they rented a one room house, approximately 15 x 20 feet, for $ 5 a month. The house still stands today and looks like a small chicken coop.
My grandfather worked three jobs in order to pay for the rent.
They strung a blanket across the room, dividing the “house” into a bedroom and living/kitchen area.
Apparently, there were a lot of homeless people out and about. My grandma called them hobos.
There were many known incidents of violence on the part of the hobos, because they were hungry, tired, displaced etc…
When my grandpa would return from work, he would start whistling a certain song when he reached the end of their road. This was to alert grandma that it was him and all was well.
They said it was common practice to bathe in the canal, and that everyone had bedbugs.
My grandma’s family was “well-off” and still felt a tremendous impact from the depression. Unable to pay the farm workers, they lost a lot of equipment and crop to theft… the workers taking it in lieu of pay.
I was also told stories about families that shipped their kids to relatives and neighbors and fellow church members, because they didn’t’ have means to support them.
The lessons of the Great Depression are many. My grandparents taught their children and grandchildren (those willing to listen) to be resourceful and not to count your chickens before they hatch.
Good luck with your story.

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Question by Emran R: How would a person during the great depression end up in a hooverville?
during the great depression some people had to live in hoovervilles. how would they end up in these hoovervilles and what would be a story of a person that ended up in a hooverville?

Best answer:

Answer by A Canadian
Directly from Wikipedia:

A Hooverville was the popular name for shanty towns built by homeless men during the Great Depression. They were named after the President at the time, Herbert Hoover, because he allegedly let the nation slide into depression. The term was coined by Charles Michelson, publicity chief of the Democratic National Committee. The name Hooverville has also been used to describe the tent cities commonly found in modern-day America.

Homelessness was present before the Great Depression, and hobos and tramps were common sights in the 1920s, but the economic downturn increased their numbers and concentrated them in urban settlements close to soup kitchens run by charities. These settlements were often formed on empty land and consisted of jerry-built shacks and tents. Authorities did not officially recognize these Hoovervilles and occasionally removed the occupants for technically trespassing on private lands, but they were frequently tolerated out of necessity. The New Deal had special relief programs aimed at the homeless, the Federal Transient Service (FTS), which operated 1933-35.

Some of the men who were forced to live in these conditions possessed building skills and were able to build their houses out of stone. Most people, however, resorted to building their residences out of box wood, cardboard, and any scraps of metal they could find, together with a stove, bedding and some cooking utensils.

Most of these unemployed residents of the Hoovervilles used public charities or begged for food from those who had housing during this era. Democrats coined other terms, such as “Hoover blanket” (old newspaper used as blanketing) and “Hoover flag” (an empty pocket turned inside out). “Hoover leather” was cardboard used to line a shoe with the sole worn through. A “Hoover wagon” was an automobile with horses tied to it because the owner could not afford gasoline

All you have to do is google “Hooverville” and you’ll find a lot of information.

Perhaps it’s time to change the name to Bushville soon? I hope things don’t get that bad again.

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However, they have been unclear on what effect this would have on a medium income family (aka, the average US family).

Best answer:

Answer by BasudebSensEconomics
The effect of a recession on a medium/ average/ median income family would be as follows: If the family is one of pensioners who do not work fulltime or part time, there would be no effect except that their sons and daughters may seek financial help because of their losing jobs or suffering reduced wages. They will also suffer lower rates of return form their fresh savings. If the family consists of a fixed salaried income husband with spouse and children / couples with children, they will have to live with stagnant income and run the risk of loss of jobs or salary cuts. Families will have to bear with delay in entry into suitable jobs by their graduate / school-leaving adult children. Families dependent on small businesses may see their business activites, turnover, profir margins and net income fall. With slack demand and intensifying market competition, some may have to shut down their businesses. As the recession goes deeper, families may see their savings and asset values fall both due to the need for selling such assets to cover their expenses as well as due to fall in the prices of assets. Moving into new, larger homes may have to be deffered by some families. People may focus on cutting wasteful expenditure, reducing weekend trips and tourism travel, economise og gas and electricity consumption. Hoever, the economy will hit the bottom in about 9-18 months after which the economy will come out of recession and start growing again with inventories very low, employment, production, incomes and investments slowly picking up.

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Best answer:

Answer by augie6_1
It is hard to say of course but there were a number of factor affecting the Great Depression.

There has never been one consensus explanation for the Great Depression. Since 1929, economists and historians have developed a number of competing theories to explain the American economy’s disastrous performance in the 1930s, and their debates over the true causes of the Depression—which have profound public-policy implications even today—have often been quite contentious.

From Shmoop

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Weather its football , Basketball, or any other sport ?

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Answer by Kevin C
The immediate impact would be a drop in the average attendance at at games. Furthermore, merchandise sales and other luxury items would decline.

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