Quote:
Originally Posted by GregE
The great depression lasted for ten long years.
Were it not for WWII the conventional wisdom is that it would have lasted a hell of a lot longer.
And, while we're on the subject of WWII, consider if you will that had the depression been shorter and/or milder it's quite possible that there never would have been a WWII. Hitler barely had enough support to come to power as it was and Japan's aggression in Asia was (in their eyes) about gaining enough natural resources to become economically self-sufficient and thereby depression proof.
Trust me, if the world sinks into another great depression what follows will be damn ugly.
Perhaps even as ugly as it got during the last one  |
It was not the war that pulled us out. The jobs the war created revitalize the economy, that was already moving ahead.
They drafted 15 million + people and forced them into war to lower the unemployment rate. During this time, Americans were 'FORCED' to work, no strikes allowed, money was controlled. Before the depression was over, employment levels and production levels, were returning to the levels before the depression, the eco was turning around on it's own and through other regulations.
Then War came, they forced Americans to serve and work, forced the unemployment level to drop, and try to count that as saving the Country. You HAD to work, even if it wasn't forced the cost of living was so high that the entire family (over and under the limits at the time) were FORCED to work.
Our Country was only in a recession, removed from the depression, when we went to war.
We aren't close to a depression... Not even .000000001% close. Not the worst state in the entire Country, at 15% unemployment is even close to depression or even some of our harder recessions.