N*****d
发帖数: 9872 | 1 Run before you get bitten | N*****d
发帖数: 9872 | 2 Hehe
[在 Noktard (Speculator) 的大作中提到：]
:Run before you get bitten | N**Z
发帖数: 1733 | | N*****d
发帖数: 9872 | | d********9
发帖数: 3927 | | N*****d
发帖数: 9872 | 6 Great Depression那次也是共和党一手造成，跟目前有点相似
1. 贫富差距加大
2. 增加关税
3. 限制移民
The Federal Reserve, the nation's central bank, played a critical, if
inadvertent, role in weakening the economy. In an effort to curb stock
market speculation, the Federal Reserve slowed the growth of the money
supply, then allowed the money supply to fall dramatically after the stock
market crash, producing a wrenching "liquidity crisis." Consumers found
themselves unable to repay loans, while businesses did not have the capital
to finance business operations. Instead of actively stimulating the economy
by cutting interest rates and expanding the money supply--the way monetary
authorities fight recessions today--the Federal Reserve allowed the country'
s money supply to decline by 27 percent between 1929 and 1933.
Finally, Republican tariff policies damaged the economy by depressing
foreign trade. Anxious to protect American industries from foreign
competitors, Congress passed the Fordney-McCumber Tariff of 1922 and the
Hawley-Smoot Tariff of 1930, raising tariff rates to unprecedented levels.
American tariffs stifled international trade, making it difficult for
European nations to pay off their debts. As foreign economies foundered,
those countries imposed trade barriers of their own, choking off U.S.
exports. By 1933, international trade had plunged 30 percent.
A poor distribution of income compounded the country's economic problems.
During the 1920s, there was a pronounced shift in wealth and income toward
the very rich. Between 1919 and 1929, the share of income received by the
wealthiest one percent of Americans rose from 12 percent to 19 percent,
while the share received by the richest five percent jumped from 24 percent
to 34 percent. Over the same period, the poorest 93 percent of the non-farm
population actually saw its disposable income fall. Because the rich tend to
spend a high proportion of their income on luxuries, such as large cars,
entertainment, and tourism, and save a disproportionately large share of
their income, there was insufficient demand to keep employment and
investment at a high level. |
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