Letter to President Hoover: Avoid The Great Depression

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By: Eli Caruthers

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  • Presidential Advisor Office
  • Banks investing in the SM
  • Hey boss, wanna use our customers money to riskily invest in the SM?!
  • Bank
  • Good idea!
  • FORD DEALER
  • Overextension of credit
  • I am so not going to pay for this!
  • BUY NOW PAY LATER!
  • GET LOANS!
  • Dear President Hoover, I have investigated the economy and have found the following factors to be of the utmost important concern. Read carefully and make good decisions.
  • What do you mean no more shipments?!
  • Look, there is no more space, and that is THAT!
  • Overstock in warehouses
  • We're gonna lose our jobs!
  • To start, letting our banks invest in the stock market is a bad idea. It is a problem because if the stock market goes down then those Banks lose the money that belonged to their clients. If people start withdrawing from the banks then they will lose business. Which means unemployment.
  • Companies investing in the SM
  • Let´s invest in the SM!
  • Company
  • But sir, what about our products!
  • To continue, overextension of credit will destroy our economic flow. This is a problem because if consumers keep borrowing without being able to pay back, then they could go in debt. There are so many consumers borrowing, that if they borrow so much that they can't repay it, then we will go into recession.
  • Also Mr. President, if this overstock in our warehouses continues to go on, the items that the factories are producing are not going to be sold fast enough. Eventually consumers aren't going to need such items which is bad for the economy. The lack of demand will get employees laid off.
  • On a further note, companies investing in the SM is also a bad idea. If companies did this, then they would spend more time scheming plans to make money than actually developing and improving their products. When the SM crashes they will lay off workers because of bankruptcy , this lessens the jobs.
  • To conclude, If we continue to go down this path of risky loans and irresponsible investing. We will go into a horrible depression that will be difficult to come out of. Sincerely, your trusted Advisor.
  • DEM
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