Institution that caused the great depression.
The Federal Reserve loaned out extra lines of credit to lower banks and those banks loaned out the extra credit to the people. In Capitalism there wouldn't be extra money given to banks to loan out. The banks would restrict credit and the business cycle would stablize itself.
When the economy turned bad starting in the mid 1920s people couldn't pay back all of their credit, banks lost money and failed, and the Great Depression started.
The Federal Reserve loaned out extra lines of credit to lower banks and those banks loaned out the extra credit to the people. In Capitalism there wouldn't be extra money given to banks to loan out. The banks would restrict credit and the business cycle would stablize itself.
When the economy turned bad starting in the mid 1920s people couldn't pay back all of their credit, banks lost money and failed, and the Great Depression started.
Thanks to socialist institutions like the Federal Reserve, we entered the Great Depression, only to be saved by the capitalistic industrialists of the WWII era
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Get the fiber attack mug.Like the literary terms 'cyberpunk' and 'steampunk' and especially punk music in the real world, the punk in 'fiberpunk' refers to the struggle for individuality, self-worth, and human identity in the often dehumanizing industrial and post-industrial world. Fiberpunk is an anti-boundary, anti-discrimination and anti-expectation approach to DIY fiber arts (crochet, knitting, sewing, etc).
Fiberpunk is not about the way you dress or what music you listen to - it's about crafting with a vengeance out of anything you can get your hands on.
Fiberpunk is not about the way you dress or what music you listen to - it's about crafting with a vengeance out of anything you can get your hands on.
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