How did the Great Depression Actually Happen?

How did the Great Depression Actually Happen?

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At the start of 1929, the end of the Roaring Twenties, the economy in the United States was sitting pretty with further progress on every horizon. Wall Street admittedly saw a minor stock market crash in the spring, but things quickly balanced back out and people were happily ignoring any further signs of troubles to come. By the fall, however, the market seemed to have reached its peak and started the downhill journey. With mass numbers of the American population having increasingly been investing in the stock market, some people were finally starting to pay a bit more attention to the falling and volatile prices. Stocks were being sold at a faster pace now, and October brought about Black Thursday on the 24th - the day that the market crashed by 11% and Americans frantically hoped to sell what they had while they still could.

♦Music by Epidemic Sound

♦Script & Research :
Skylar J. Gordon

#History #Documentary

[Knowledgia]

Why do you think the Great Depression Happened?

Your constant support means a lot to us! Thank you!

[Christine-wpbw]

Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my portfolio worth of $800k from this bloodbath.

[leondonald]

When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't... Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones. It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others. My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust.

[kortyEdna]

I used to think everybody went broke during the Great Depression and other major crashes but they didn’t… Some made millions, I also thought everybody went out of business during these times but they didn’t, some went into business, there's always depression/recession for some people and there's always a good time for others, it's all about perspective.

[joshuapartridge]

unskippable youtube ads are contributing to my great depression

[thenarrowgate]

My dad lives through the depression and he along with all his siblings agreed that it was the war that actually ended it. Things were still rough for the working folks.

[susankurtz]

My aunt told me if one had a job during the Great Depression you were lucky. She had graduated from college at the start and found a job with a newly established social agency. My mother was already teaching. My Dad had a very good job with an oil company. My uncle, unfortunately, had graduated from law school and at the time there were no big law firms so he found a job in the same office as my aunt and that’s where they met. If you had a steady paycheck coming in, you were fortunate.

[andrewlollis]

I feel like the dust bowl should be mentioned

[ewrightify]

Nobody is going to call this guy out for getting the crash year wrong?

[reesejabs]

The Federal Reserve was, by far, the most guilty party in the depression.

[ChiChiLand]

Probably a minor mistake but you guys are saying that the crash of the stock market was in October of 1928, but it was 1929

[claiborneeastjr]

During the Depression, unemployment was around 25%. So the popular misconception that no one had any work is wrong. But, 25% is HUGE and unmanageable. FDR's New Deal did not end the Depression, but it did usher in the concept of "regulated capitalism", in contrast to the "laissez faire" doctrine that preceded it. The outbreak of World War II spurred massive orders for war materials, and that is what ended the Depression. It would have eventually run its course anyway.

[lfroncek]

The thing that brought the US out of the depression was the fact it was the only industrial country left standing after 1945.

[seriouslyyoujest]

History may not repeat itself, but it often rhymes. Our roaring twenties may be about ready to suffer the same conclusion looking out from 2024 and ahead.

[guydreamr]

Agreed that the gold standard was definitely a factor behind the depression. Another element about the standard which the video left out however, was since people could demand gold for dollars, the federal reserve was forced to keep interest rates high to defend the currency. This is the exact opposite of what should be done to counteract a downturn and indeed is one of the prime factors which intensified the deflationary spiral.

[SkyBlue-qnme]

The stock market crash was in 1929, not 1928!!!!

[Riggsnic_co]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[trzmdpath]

This was the fault of the money bubble created by the Federal Reserve System. Then when the liquid money supply in the spring of 1933 was approximately two-thirds of what it was before the stock market crash in October 1929, the Federal Reserve did not use its open market operations to increase the liquid money supply in the banking system.
The Great Depression really did not end until WW II increased the activity in manufacturing businesses producing war materials.

[johnjackbogle]

With how you do presentations I'd love to see how you'd do the independence of mexico. Think it'd be neat. Either way, amazing videos as always I love them!

[bonniegaither]

Black Tuesday was in 1929, not 1928.
“On October 29, 1929, "Black Tuesday" hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day.”