The Great Depression: Economic Collapse. In the 1930s, American capitalism practically stopped working. For more than a decade, from 1929 to 1940, America's free-market economy failed to operate at a level that allowed most Americans to attain economic success.n different ways, both Keynesian and Friedmanist explanations for the Great Depression suggest that American capitalism broke down in the 1930s because of a tragic disconnect between the needs of the economy as a whole and the rational economic actions of the individuals struggling to survive within it.
Counting Seven YearsWhen it comes to your credit report, negative information typically stays on your report for seven years. This means that late credit card payments stay on your credit report for seven years from the date the payment was missed. If that late payment eventually turns into a default, the seven years counts from the original missed payment deadline.
Most negative credit entries remain on your credit report for seven years. This includes late payments -- such paying a credit card bills more than 30 days after the due dates -- foreclosures, Chapter 13 bankruptcies and debt being sent to collections.There are, however, a few exceptions to the seven year practice.n general, negative credit entries will stay on your credit report for seven years. However, the exact amount of time varies based on factors such as whether the delayed payment or bad debt is disputable, and the source of the bad credit.