Here on the North American Continent, also know as the United Sates of America, the Mississippi River runs through ten states; Minnesota, Wisconsin, Iowa, Illinois, Missouri, Kentucky, Tennessee, Arkansas, Mississippi, and Louisiana.
Back in 1927, the most destructive river flood in U.S. history was registered as the Mississippi overflowed largely because of heavy rainfall in 1926. They say 27,000 square miles of land was under 30 feet of water for months causing the displacement of almost 700,000 people.
Two years later, in 1929, steel and automobile production, two large portions of the American economy at the time, were in decline. European investors grew increasingly uneasy about investing in the U.S. economy and pulled out. That propelled a wave of fear that couldn’t be settled, by October, 16 million shares were sold off; Wall Street crashed, and the Great Depression followed. The Great Depression lasted from 1929 to 1941, and no depression has lasted as long or has touch nearly the amount of lives.
How did we rebound? Well, Franklin D. Roosevelt had to come out and tell the truth about state of the economy and the country in general, but weather or not we rebounded is up for debate.
After Roosevelt’s inaugural address on March 4, 1933, and his promise of a “new deal,” a plethora of federal agencies came into existence.
Civilian Conservation Corps (CCC)
Agricultural Adjustment Administration (AAA)
Tennessee Valley Authority (TVA)
Federal Deposit Insurance Corporation (FDIC)
Securities and Exchange Commission (SEC) -to police Wall Street activity
Federal Emergency Relief Administration (FERA)
National Recovery Administration (NRA)
Committee for Industrial Organization (CIO)
🤣Woah! Yeah, I mean it’s not a secret Roosevelt increased the federal government tenfold, and expected them to carry the country out of the depression, but the steel industry and the private sector in general was back in business because of WWII.
Flood, Great Depression, and then WWII began in December of 1941. The war ended in 1945, which was the same year FDR died, but I think many question his decisions regarding the sizable increase of the federal government because the federal government’s role was supposed to be limited with little intrusion in the lives of citizens, but..
at least he came out and told the truth. And I think citizens at that time weren’t really thinking about how the fed’s involvement could effect the future, or what kind of precedence it would set for future emergencies. Today, we almost expect federal intervention during times of emergencies.
But like I said, I think at that time people were in a real desperate situation, and the government came offering with their hand out.
Nooz Buffet 