What Caused the Great Depression in 1929?

What Caused the Great Depression in 1929? The economic crisis kicked off at Black Thursday on October 24, 1929 when the stock market on Wall Street crashed. An important date in American history. A financial crisis started. This ended the prosperity of the 1920s. The Roaring Twenties came to an end and the Dark Thirties started. But was were the causes of the Great Depression? In this video you will learn about US history: How The Economic Crisis Started.

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Licensed under Creative Commons: By Attribution 3.0 License

Licensed under Creative Commons: By Attribution 3.0 License

Licensed under Creative Commons: By Attribution 3.0 License

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[HoH]

Your production value is great, switching camera angles, high-quality audio, and of course the beard!

[stacey_rh]

Great stuff! Your the only one on you tube that makes me feel like I’m in a classroom!

[janherburodo]

I really like the way you structured the background as well as the fact that you dressed up in 1920/30 fashion. I love attention to detail, good work 👍

[hauntedmoodylady]

The label was not 'Black Thursday', it was actually 'Black Friday.' I gave this one thumb's up, I believe most of it was correct, it's the story behind the story which is mostly missing, mostly the who, how, and why. I recommend reading work by a Dr. Milton Freidman. He won the Nobel prize for economics ( I believe in 1976). He determined by an exhausting study that the US Federal Reserve system was the main cause of the depression (the Federal Reserve policies were the exact opposite of the policies which should have been applied, and they kept doubling down on the wrong policies) and the cause of it being so severe, and continuing for more than a decade. President Herbert certainly wasn't to blame, and FDR's many New Deal programs certainly did not contribute to ending the depression..

[janherburodo]

I've read that at some point inflation in Germany was so high, that some people used the "small" value bills to enkindle wood in their furnace

[perisomething]

Great video, I find this kind of stuff fascinating.

[colinthehat]

What a great find, your channel. Got into it because I'm a fan of war history but this was so thought-provoking in relation to a poverty working group I'm currently involved in. The reference to 36, 000 richest and the 10's maybe of these days particularly poignant I thought.

[luxembourgishempire]

Oops didn't comment here. I think I am getting close? Keep these videos coming I remember watching them just not commenting.

[slopedouche]

The “reforms” that FDR put into play regarding work programs and a temporary ban on bank foreclosures helped. FDR was not universally welcomed in rural areas since many citizens wanted nothing to do with his socialist ideas. Like the Spanish decades have gone by with very little change in political beliefs based on the region of the county in which you live. Once the war started and ended then came globalism which wiped out all of these small towns. The stragglers that were left in these failing towns are strung out on crystal meth and very poor. Very sad.

[coling]

"business is business" which is exactly right.. the economy always sorts itself out.. some of American's problems in the era were the hundreds of small town banks - they could not survive the crash or ppl trying to withdraw all their money at the same time. Roosevelt prolonged the Depression in US with massive govt schemes and interference.. many of his cabinet were suspected of being closet socialists... it took WW2 and the boom in supplying the Allies to help get US finally out of Depression in 1940. several years after countries like UK etc.. America is the land of opportunity. that has been its success story. some of the present crop of Democratic Socialist Party members either don't understand that, or actively oppose it. ppl like "the Squad" are all hyphenated-Americans who seem to hate everything about USA. another Depression could be incoming..

[pasparaldabeiradocanal]

3:10 "I read that [in the 1920s] the 36 thousand richest families owned as much as 12 million poor families"
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That's peanuts.. According to an Oxfam Novib only eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity!