The last time that our country has seen this much financial distress the American people were getting ready to be thrown into the midst of The Great Depression.
To combat the effect of that economic downturn during the early 1900's, the United States government took charge and enacted several mandatory government policies such as the National Industrial Revitalization Act and the highly contested (yet highly effective) set of rules and regulations affectively called 'The New Deal'. During this period, people through out the country developed habits which gave them fervor to fight their economic situation.
The US Stock market crash of 1929 wiped out 40 percent of the paper values of common stock, caused mostly by the country's large disparity between its ability to consume materials and this country's surplus. In essence, this country's production ability was too efficient for its own good.
Also, the presidential campaign of 1932 was dominated with the economic issues that caused The Great Depression; which was similar to the debates of Obama and McCain during the 2008 debates.
In addition, despite the fact that millions of Americans were out of work, bread lines were a common sight and thousands of people were in search of food, work and shelter, Franklin Roosevelt infused confidence into the hearts of Americans and morphed their support into the passing of the afore mentioned New Deal Program. Some say that Obama is well on his way to doing the same for his Stimulus Package.
Not to mention the similarities of World War II and our nation's current multi front war in Afghanistan and Iraq.
Taking these similarities in account and now totally focusing on the present; our country is in the midst of a similar economic as which was experienced during The Great Depression.
To combat the effect of that economic downturn during the early 1900's, the United States government took charge and enacted several mandatory government policies such as the National Industrial Revitalization Act and the highly contested (yet highly effective) set of rules and regulations affectively called 'The New Deal'. During this period, people through out the country developed habits which gave them fervor to fight their economic situation.
The US Stock market crash of 1929 wiped out 40 percent of the paper values of common stock, caused mostly by the country's large disparity between its ability to consume materials and this country's surplus. In essence, this country's production ability was too efficient for its own good.
Also, the presidential campaign of 1932 was dominated with the economic issues that caused The Great Depression; which was similar to the debates of Obama and McCain during the 2008 debates.
In addition, despite the fact that millions of Americans were out of work, bread lines were a common sight and thousands of people were in search of food, work and shelter, Franklin Roosevelt infused confidence into the hearts of Americans and morphed their support into the passing of the afore mentioned New Deal Program. Some say that Obama is well on his way to doing the same for his Stimulus Package.
Not to mention the similarities of World War II and our nation's current multi front war in Afghanistan and Iraq.
Taking these similarities in account and now totally focusing on the present; our country is in the midst of a similar economic as which was experienced during The Great Depression.
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