The first thing you need is obviously a replacement water heater element, and also a socket to fit. The most common size is 1 1/2â³, and a couple of screwdrivers and nut drivers depending on exactly what you need on your water heater to expose the element.
Essentially, the Great Depression, in their view, was caused by the fall of the money supply. The result was what Friedman calls the Great Contraction â a period of falling income, prices, and employment caused by the choking effects of a restricted money supply.
The Stock Market Crash. The most noted cause of the Great Depression is the stock market crash on Black Tuesday, October 29, 1929. Americans lost $14 billion dollars on that one day alone and more than $40 billion in the following months. This is despite millions of dollars being pumped into he market to stabilize it.