John Moser
👤 SpeakerAppearances Over Time
Podcast Appearances
This says to me that the problem is not that people didn't have money to spend.
They just didn't have the confidence to spend it.
And then that, of course, created a situation where, guess what?
They also didn't have the money to spend because they were losing their jobs.
In fact, I'm working on a book now called The Great Depression Facts and Fictions.
Ten chapters, each dedicated to a popular myth about the Great Depression and seeking to debunk it.
And a lot of the myths are...
Not entirely wrong, but the thing is, as you say, it's complicated.
There are lots of different factors at play.
The cumulative effect of a series of disasters between 1929 and 1933 converted what otherwise would have been a blip in the economic history of the United States into an absolute catastrophe.
When studying any period in history,
it's easy to forget that the people who lived through it didn't know what things were going to be like in two years, two weeks, two months, even, even two weeks.
So the, the, the attitude in 1930 was okay.
This stuff happens in the economy.
We're in a tough spot now, but within a few weeks, within a few months, it's going to improve.