Prevent Great Depression?

Question

How could the Great Depression of the 1930s in the U.S. have been prevented or at least been slowed? I know some of the causes, but when it comes to how it might have been averted, I've come up a little short on ideas. Help, please!

Answer 1

The Great Depression could have been prevented if the US had been off the Gold Standard. Having a fixed money supply and no ability to flood cash into the economy, the hand writing was on the wall...

Stage 1:  Millions lost their money which banks gambled on Wall Street

Stage 2: Banks and Businesses closed up because nobody had cash to spend.

Stage 3:  Those banks which remained refused to loan money unless you were Triple AAA with cash in their banks. Translation, nobody got a loan and the economy siezed up.

Stage 4:  Deflation gripped the economy in a death spiral. Why buy a house for $5k when tomorrow it might be worth $2.5/k?

Lessons have been learned since the Great Depression and hopefully we never experience that again. If we do, I'll be on a plane to Hawaii to live poor and be in paradise.. lol

Answer 2

The banks contracted the money supply then to get a new charter for the federal reserve . Today they are doing it to get total control over the economy .