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Remembering the Great Depression

Posted: October 20, 2008 8:47 p.m.
Updated: December 22, 2008 5:00 a.m.
 

Our United States is beginning another financial crisis. I remember the financial crisis of 1929. I was born in 1916, which made me a teenager when Wall Street crashed. We heard about men jumping to their deaths from skyscrapers because they couldn't face the results of their financial ruin. No one took such a violent out in our little town of Crawford, Nebraska, but men were found standing on the street or leaning against buildings with defeated, sad faces.

To my teenage knowledge, all this came about from too much borrowing and charging too much interest. I got the impression President Hoover was at fault for everything. One poor man got all the blame for a huge part of the citizens' being irresponsible, money-wise. Well, it took many years to get things straightened out. Business began to flourish, and it was against the law to charge more than 10 percent for a loan of money.

Well, the greedy of the country, and the "need-it-right-nows" changed the name of "interest" to "carrying charge" and flipped our good old United States back into a mess again. We have plenty of food for all of us. We have plenty of housing for all of us. We have plenty of clothes, water, lights and entertainment. What we are long on is greed and short on sense enough to wait ‘til we can pay for the luxuries. I'm not saying luxuries are not needed, but they should just take their place in our lives as an affordable possession.

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