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What did the over borrowing have to do with the great depression?
Treboo09
You see this question has interesting overtones given the present day situation in the economic market: If I go to the bank & ask them to lend me some money then the decision to lend it to me is entirely theirs. I cannot make them lend me anything. So I am saying it's not a situation of 'Over borrowing'.... It is lending money to people the banks knew, or should have known full well, that they were unable or unlikely to be able to repay the loan. So to reiterate it is, was, not over borrowing: It's all about 'dodgy dealings' by the banks.
Wiki User
∙ 15y ago
Wiki User
∙ 13y agothere was unemployment people were broke and lost their jobs and they could not afford to pay back the government for the money they borrowed
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Who was affected by the great depression-?
The Great Depression affected many people all over the world.
The Great Depression was felt .?
By countries all over the world
When did the Great Depression occur name one cause of the Great Depression?
The Great Depression started in October 1929 when the New York Stock Exchange crashed and everyone was poor instantly. Another cause of the Great Depression was over-farming in the Midwest which caused huge dust storms that ravaged crops.
Was there a Great Depression in Sweden?
Of course, the depression which started in 1929 in the United States spread to nations all over the world, including Sweden. Sweden having recovered in 1934 was however the first nation to fully recover from the Great Depression.
What were the interest rates during the great depression in the US?
Very low to entice borrowing so that when the currency printers contract the supply of THEIR fiat currency, everyone will get squeezed and they can pick up cheap labour, cheap property, cheap chattle etc. Then we start it all over again. It keeps them from getting bored.
Which factor was a major cause of the Great Depression of the 1930?
excessive borrowing to buy stocks leading to the Stock Market crash of 1929
Who was president when the Great Depression was over?
Franklin Roosevelt was president when the great depression ended and the great war began.
Who was affected by the great depression-?
The Great Depression affected many people all over the world.
How many businesses failed during Great Depression?
In the Great Depression, over 11,000 banks failed, and over one million family farms were lost.
What factor was a major cause of the Great Depression of the 1930?
Excessive borrowing of stock leading to the stock crash :) Have fun on study island! OPINION: The main cause of the great depression was the life style of the 1920s america. the people at that time did not save money. they over-consumed as they had high wages, and there were low prices. the only matter was to live the life you have and to benefit from it as much as possible.
Who lives in Hooverville?
homeless people during the great depression Over 1,200 people were homelss.
The Great Depression was felt?
By countries all over the world
The Great Depression was felt .?
By countries all over the world
How did FDR overcome his challenges?
he over came the great depression
What were the effects of the Great Depression in the South?
Over populating in the north. & urbanization.
Who took charge over the great depression?
Franklin D. Roosevelt .
How did Africa deal with the effects of the Great Depression?
they got over it LOL!
