The Great Depression Explained in 11 Minutes

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The stock market crash of 1929 didn’t cause the Great Depression by itself, but it is a powerful symbolic starting point to the greatest economic disaster of the twentieth century. On that dark day in October 1929, fortunes were lost and fear of financial insecurity rose throughout the United States and the world. In 1932, the low point of the Depression, as much as a third of Americans were out of work and even more people were unemployed in other countries. The stock market reached its lowest point ever and wouldn’t rise to its pre-Depression levels for almost twenty years.

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[oneillbilder]

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.

[HodgeChris]

Coming out of facing alot, I knew two things about the stock market: It caused the Great Depression, and the fastest way to make a million on the markets was to start with two million. And then the Great Recession happened only a few years later. So yeah, I wish someone had better explained it to me earlier in life. Having a good entry and exit strategy will make you succeed in the stock market.

[alexsteven.m]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[astrofrk]

My grandma and dad told me about the great depression and the dust bowl. Find an old person fast because they are dying of old age, their stories can make you laugh and cry. For every old person that dies, and encyclopedia of history dies that no book or webpage can replace.

[Riggsnic_co]

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.

[NikiLivi]

My grandma was a little girl during the depression. She said they didn’t know they were poor because everyone around them had the same things they had.

[DennisJack-kmho]

I wonder if those who experienced the Great Depression had it easier than others, as my stock portfolio has already lost more than $35K. I worry about my retirement prospects because of my inert reserve.

[jimh]

"The Government" always tries to save us from problems that "The Government" itself created.

[EthanMaloney-qplh]

is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?

[tradekings]

The thing that all of these experts fail to take into account is that the politicians will never act fiscally responsible and they will continue to encourage the FED to print money thereby worsening inflation.

[janmckittrick]

My Dad was born in 1925..He said they ate bread, milk, and syrup...Their was nothing else to eat for weeks at a time.

[johniboz]

My grandmother use to tell me stories of the great depression. She told me that back then everyone helped each other. Neighbors helping neighbors, friends helping friends. It's not like that today. We are a different country. If our economy went to shit look out!!!

[elchappo]

I learned more in this 11 minutes than i did in 10 years of social studies class

[Longhorn-sz]

The Greatest wealth transfer in United States history. The money brokers cashed out of the stock markets Six months prior to the markets collapsing. Assets were then, either stolen or purchased for pennies on the dollar. 2008 US housing collapse is the Second largest US wealth transfer. Money is never lost...Only transferred from one pocket to another.

[davidwhitney]

My mother and aunt were young girls in 1929, growing up in East Harlem, the East 100s near Third Avenue. The stock market craze had even reached that neighborhood a few yearsearlier; they told me that in the days following "Black Tuesday" they saw people were wandering around stunned, silent, despairing, lost, like zombies. All this was quickly followed by massive job loss, evictions, and bear-total impoverishment of the area. Their parents knew people who actually committed suicide after losing all in the Crash. Their parents, my grandparents, lost much as well, and for ten years survived by whatever work they could find including, prior to the repeal of Prohibition, the production of bootleg alcohol....

[ericwolf]

Our Parents lived through it as children.. our Mother said it was called the "Depression" because that's how the People " Felt, Depressed".

[rootsm]

My grandmother and her siblings were out in foster care for 8 years. But when the depression eased up, my great grandmother found them and took them back.

[donaldsebolt]

Keynes believed in spending during bad times and paying down debt during good times...the problem is our government never bothered to pay down debt and kept expanding. Now future generations will pay for their "sins."

[scottthompson]

Buckle up ladies and gents because we’re headed right back there. It’s going to be a bumpy ride.

[Msrisethatop]

Very similar to today, be prepared and not surprised. History usually repeats. Excellent and well explained video!