What exactly caused the Great Depression?

They are not equal, first one is general allowing one to fit all kinds of people, organizations and corporations while second one reduces the possible conspirators to a small fraction.

an economic bubble, as already stated by

>plurality
>small fraction

No, everyone who doesn't think there's a global Jewish conspiracy that controls everything and is responsible for every tragedy in the world is a RETARD.

Most communists accept that the Zionists are an ultra-influential group, though they tend to conflate them with "white supremacists" and "capitalism" to make their views more palatable to American kikes.

The 1920 tax cuts under the Republicans.

good one

When stock brokers started basically making laws and regulations in the stock market, especially in wall street. These regulations seemed to be useful and could pay off, but look where they led the world.

Europe stopped buying american stuff

It was a joke you mental handicap

Widespread low self-esteem.

The Laffer curve is a stupid joke made up on a bar napkin by Reagan’s dumbest advisor. While theoretically sound, never since its inception has a tax cut produced a gain in revenue, and anyone whose argument to support a tax cut is ‘muh Laffer curve’ is either a charlatan hoping to line their own pockets or a fool who fell for voodoo econlmics.

deregulation

>While theoretically sound, never since its inception has a tax cut produced a gain in revenue
Aren't you contradicting yourself there? I haven't checked but I'll take your word for it that a tax cut has never resulted in increased revenue, however the economic reasoning behind the curve is so sound you might as well accept it as fact. Taxes increase the "drag" on the economy, there comes a tipping point where greater taxation WILL start to have seriously detrimental effects on the overall economy and result in businesses starting to close up since they can't be profitable anymore. In general most nations in the west are massively overtaxed at the moment and it's mostly because of social security schemes.

Astounding how legislative practices are almost always written about as being possible catalysts for an economic downturn or boom, but the actions of the unelected Federal Reserve are never written or talked about. Almost as if that Americans fully realized just how much power these officials had they would be torn out of their positions of power.

That’s what I mean by theoretically sound, it has internal logical consistency with everything we know about macroeconomics, but the trick is to know where you are on the curve, which is impossible. So far tax cuts in its name have failed to produce any increase in revenue, making the case that we’ve never been at the point Laffer said we were at. Nobody in the West is overtaxed except maybe the poor, whose wages have been declining or stagnant in real value for a decade. The wealthy are taxed less now than they were under Reagan and Laffer, and even less than they were in the ‘60s. If the wealthy weren’t such greeey fuckwits then they wouldn’t shoulder so much of the tax burden, they pay most of the money because they have virtually all of the wealth.

Fundamentalism

>panic of 1907 happens
>tl;dr some random person gambled away other people's money
>JP Morgan bails out the economy
>suddenly he becomes the bad guy because the economy is dependent on him
>blueprints for federal reserve drawn up to stop runs on banks
>WW1 happens and government needs new levels of control over nation's finances
>federal reserve becomes a thing, ostensibly to deal with financial crises though in reality to expand government control
>lots of boys come home traumatized war veterans with a hole to fill
>proliferation of electric power, combustion engines and electronics
>consumer goods become affordable to lower-middle class
>roaring 20s happens
>risky lending begins to fuel industrial growth and spending
>stock bubble bursts
>not a big deal unless you invested in silly shit which most people didn't
>fed doesn't back risky lenders
>bankruptcies place pressure on more moderate lenders who also start to go bust in the bearish economy
>it snowballs yet the fed doesn't bail them out which was why it was created in the first place
>doesn't help that Hoover is laissez faire, the government went from saying "spend and invest, it's ok, we've got your back" to "you must exercise fiscal discipline yourself"
>the government flip flops again and starts implementing protectionism, reneging on free market principles and losing even that last bit of credibility
>counter-protectionism causes global trade to break down
>after 4 years economy hits rock bottom and savvy investors start buying everything for firesale prices, bolstered by FDR's "new deal"
>economy recovers

Capitalism

The creation of the federal reserve.

This. Central banking is cancer. We never had a financial breakdown in the U.S. of that magnitude prior to the creation of the federal reserve.
Before then, banking panics rarely lasted over a year or two, and because our money markets were severable and compartmentalized, the contagion could be isolated in a particular area and burned out.
Then the masters of the universe decided it would be clever to replace our piecemeal financial system with a monolith so singular in construction that once infection set in, nothing less than a world war could reboot it.

bump