ates on his web page, by 1929, ten percent of American gross national product went into exports. When the foreign nations discovered they couldn't afford to buy U.S. goods, U.S. exports fell a drastic thirty percent seemingly overnight. The $1.5 billion lost in foreign sales between 1929 to 1933 was one-eighth of all lost American sales, Gusmorino concludes. So, as the world economy became a nightmare, the banking system of the United States also became a disgust. After World War I, U.S. banks were extremely corrupt. Watkins writes that banks were poorly managed, stating that banks gave high-dollar, unsecured loans to promote speculative enterprises (47). Banks wanted the United States to prosper so they granted money to many entrepreneurs. One can't blame the banking system for trying to lend a hand to "big business." However, the banking system definitely polluted our economy and assisted the world in falling into the Great Depression.Whatever the case may be, it is obvious that one may draw several conclusions when looking for a cause of the Great Depression. Nonetheless, until one reason can be expedited, no one can ensure the safety of today's economy. So, as the search continues, we must use the origins we do realize to prepare for possible economic disaster in the future. No one can be sure it will happen again, but what do you think?...
