1929, economic misery spread quickly throughout the country. The misery started first in the financial sectors most hit by the crash, and then the circle of waves of bank failures, insurance company failures, and business failures vibrated out into the broader economy in unemployment and lost wealth. Locations like Idaho were somewhat isolated from the financial shocks for a short season, but within one year, all were to come and understand the devistation of capital and crises of confidence in the broader economic markets. The photo shown aside is a clip from a riot of unemployed individuals marching to protest their unemployment as they sought jobs to feed their familes. http://www.5min.com/Video/The-Great-Depression-1354261
The debt that the US has amounted today, and that political leaders are throwing at the severe recession is unparalled in scope or size. If current stimulous and market stabillity funding fails to support the current economic base, then home prices may fall further, and we may see another downfall of mortgages and abandoned homes. Consumer credit cards, commerical loans, and commercial real estate appear to be next for the downturn.
While our times have certainly changed in terms of population, communications, transportation, technology, and culture -- it would behoove us all to be mindful of the past and take whatever lessons we might gleam from our history. In this post I put up a few stories of people who describe living through the Great Depression.
There will be many that look to the past to see what we can learn. One short film that was prepared recently was one that covered the lives of five individuals that lived through the Great Depression. http://www.youtube.com/watch?v=hbEVeKIghCk
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