The Great Depression - 5 Minute History Lesson
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- čas přidán 1. 07. 2024
- To clarify, Hitler was NOT the founder of the Nazi party, sorry for any confusion!
The Great Depression was the worst economic downturn of the industrialized world, crippling the wealth of Americans throughout the 1930's. How did it happen? Let's find out with a 5 Minute History Lesson.
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Episode Music:
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The only thing we can learn from history, is that nobody ever learns anything from history.
Before 2021 im sure the coronavirus will have butf*ucked us all back to the year 1929. There is no way around it.
Lmao!!
If we didnt we would have been dead ages ago.
And the current crisis is from a plague, so it is not the same
That is kind of true, 2020 did happen.
True.
Aah yes, the roaring 20s are back again.
@Marcelo Firpo worst crash since 1987 from Corona virus
fantastic
Marcelo Firpo. I just realized you must be abroad from the US. Yes the US market has crashed like no ones business. Like I’m talking many of my stocks went from around $50 a share to $10
best comment
Damn I just realized this is 2020 and history might repeat itself
What he explains is actually happening again but with different actors. Humans forgets too easily.
We haven't forgotten. It's being done again on purpose.
@@springerworks002 Like I told my friend, the government feeds off of fear, dependency and people’s blind arrogance to stay in power. Fear, have people think they need the government and they will become blind followers, this is the same for banking. History will always repeat itself because of these blind followers
We weren’t there so how can we forget something we’ve never experienced
@@shawnbender3520 Because people who actually want to prevent the same mistakes we’ve made through history actually research history, we weren’t there but that doesn’t mean we can’t learn from it.
@@Juandisimo3 You can’t as long as you have private central banks run by transnational dynastic banking cartels
Fun little story about the Depression: One day, a man named Joseph P. Kennedy (the father of JFK) was getting his shoes shined when suddenly, the kid shining his shoes started giving him stock tips. Joseph had made a fortune in the stock market like everyone else, but according to the story when he heard a child giving him investment advice he decide to get out while the going was good.
He got out with his fortunes relatively intact and went on to become the first head of the SEC in 1934, ambassador to England in the late 1930's, and the patriarch of one of America's biggest political dynasties.
FDR put him in charge of federal oversight of the Stock Market, saying Joe knew all the tricks.
There are also stories of him making a shit ton of money out of illegal bootlegging during the Prohibition not to mention him being a big time Nazi sympathizer while serving as Ambassador to Britain.
@@skymaster4743 Yeah, you're right. The bootlegging represented a huge chunk of the Kennedy fortune and Nazi sympathies were sadly par for the course in pre war America, especially among wealthy and famous elites like Henry Ford and Charles Lindbergh.
It's not an excuse, but Joseph Kennedy was very much a man of his time. A man who came from nothing to build one of America's greatest political dynasties but couldn't sympathize with the struggles of people who weren't white and Catholic.
@@skymaster4743 FDR owed Joe a political favor and decided to get him out the country.
No. He was engaged in insider trading. Even if he removed his money from the stock market and into the bank, he would’ve lost money. He had his money in commodities like large shipments of alcohol from bootlegging, real-estate, and physical cash for bribing.
I just learned more in five minutes than I did in four years of high school.
Since you learn more in this 5 min video of HISTORY, can you make even a single dime out of the info given to you
Armistice yea protect your paper wealth with real money. Dont give it all to the stock market and banks lol.
@@well.thy.one. JFK money?
@@leifc.6045 yea that kinda money
This is something you learn in high school you just didn’t pay attention when they taught it
1929: 14 BILLIONS DOLLAR WIPED OUT IN 1 DAY!
2020: That's cute.
14 Billion Dollars in the 20s is worth around 13 times now. It means the loss in that day was around 182 Billion dollars.
@@captainlass9718 it's actually close to 211 billions, and that's still cute :).
@@ablanikihyung7801 I come from Tunisia. The amount that was lost that day is equivalent to 1.4 times the actual total GDP of my country. It would suck to lose that much in one day I think.
@@ablanikihyung7801 How much was lost in 2020?
King Of Combat 6.2 trillion dollars. Actually way more because inflation
'Roaring 20s'....
Me to 2020: Ah shit, here we go again
the rona 20's
Fre
"The Great Depression"
Me: no
"The Big Sad"
Me: *HELL YES*
The big oof
The big sad noises
cringe
Get ready, Millennial. You are HERE
666 ahhaha
1929 was the worst economic crash in American history.
2020: Hold my beer.
Here we go!
2020: hold my Corona
2020 Hold my sprite with lime!
Who's here after covid19? Guessing all commenters here ^^"
just hope that ww3 doesn't follow it.
It shows how incredibly fragile our economy is.
Any economy built on debt is fragile as is any economy that relies on a continually increasing population.
Just don’t ever overpay for things like stocks and houses.
Our gov has spent double whats its braught in for 20 years. Any emergency is made far worse when your already sinking.
It's a very strong economy. Just ran by idiots.
Although better than other economic ideologies, capitalism still has its problems. Our economy depends on the success of private corporations. If they fail, we all fail.
Anyone else here in 2021, watching history repeat itself?
Yeah when he said everyone thinks they are the new Warren Buffet...and how businesses were doing terrible but markets still surging?? It’s very similar.
Have you ever had an original thought in your life?
@@yojodingy6334 as the Bible says, there's nothing new under the sun
Hold me!
2021 was not comparable at all to the great depression.
The great depression of 2020 in 5 minutes.
Lmao!! Wait till the average hard working Joe loses his job, and has a family to feed.
It's 1929 all over again.
You and I remember 1929 much differently.
Health is first than GDP.
@@endgame6979 its hard mate its just hard
@@heyyou7881 they are interconnected!! Less gdp would result in worse health then that caused by covid19
You would have thought we would have learnt from this, but 100 years later we're looking at exactly the same thing.
People don't even remember 2000 or 2008, lol. Everyone's thinking the market will recover by end of the year
@@JohnnytNatural I wish I could believe that. I would like to think that, but its different this time in a way worse way.
It’s a cycle I learned a lot about how it works akin an economics class and it’s inevitable. Once the market is higher than its worth and unemployment. Then ppl take money out, others realize market might fall and take theirs out. Taking so many loans out is the one thing that needs to change
The Fed purposely exists so that the rich get richer and the poor don't even realise what's happening. Trillions in quantitative easing to bailout airlines and banks and regular people barely see any of it. This is why Bitcoin was created.
Are you saying 100+ P/E stocks are overly optimistic?
*me watching the first half* “hey this looks familiar”
I constantly forget what happened and have come back to this video at least four times over the last few years.
I just find it so funny that human behavior and belief structures is what creates situations like these.
Yeah, there was no physical tangible reason, like a catastrophe or external event. For purely fictional reasons, businesses just closed and factories and farms stopped producing. Then hunger and destitution. The causes were imaginary but the effects were very real...
Capitalism is just not a good system.
@@andrepduarte The worst system... but still better than every other sytem
Not necessarily, this was a product supply and demand problem. The majority of these companies were selling real physical products. Outside of banks, insurance and financial products.
@@rs72098 Supply and demand were both there in surplus, people freaking out destroyed the price mechanism
@@andrepduarte there's nothing wrong with capitalism. its the human error part. When humans don't make mistakes capitalism flourishes
Coronavirus: *we're doing a sequel*
Nah it was already coming ever since 2019 or even since 2008.
This aged well
Thank you so much for this! It was a great and quick explanation I used to teach my kid about the Great Depression.
This is the best synopsis of the Great Depression I have ever seen. Bravo! 👏🏻 👏🏻
Quality channel thanks for the videos
checkmark AND liked by the channel and no comments?? why?.. also 1st!
This spin ignores that after a decade of Republican prosperity a new Democrat Congress caused a recession which FDR Democrat programs/policies turned into the decade long miserable Democrat Great Depression… ended only by WW2 after all Democrat socialist ‘new deal’ programs/policies had FAILED & made everything worse, extended the depression by 8 years.
“We have tried spending money. We are spending more than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot!” Henry Morgenthau Jr. secretary of the Treasury & key architect of FDR’s New Deal, May 9, 1939.
This video is not quality whatsoever besides the cutesy production. It’s basically an entire video of fluff that mentions exactly nothing about the fed, laws and regulations or any political response to the depression.
@@warrenwhite9085 Where do you get your insights?
Sounds like a man who just got his homework done 🤔 haha
who else is here to prepare for 202O
Me 😭😭😭
Not many...
me man ...
Yessir!
Me lol
The value of this video is insane, well done!
Amazingly informative video in such a short span of time!
This is a fantastic format and I'd love to see more videos that use this format. Perhaps the Dutch Tulip Bubble or the 2007 Financial Criss?
DrexFactor Poi I definitely plan on doing one about 2007, I hadn’t thought about doing one for the tulip bulb crisis, I’ll look into it!
@@ThePlainBagel please eagerly waiting for your video about 2007.
Tulip bubble = marijuana bubble. Both plants that are easy to grow and oversupply the market.
@@ThePlainBagel Tulip bubble, Venezuela hyper inflation, Zimbabwe hyper inflation
I thought I was watching a video of a million subscriber channel - how does this guy only have 38k? Amazing content! Subbed
@Thomas Headley off target?
Things doesn’t happen over night
Playa has over 239k subs one year later
392k
He’s gotta show more booty shots and shocked faces on his thumbnails. Watch the numbers explode
This is reminding me of what's happening right now.
That’s new to you tab brought you to me and man.. finally good content to watch in 5 mins 😂 keep up the work!!!
1920's: *THE GREAT DEPRESSION*
2020: *_HoLd My CoRonA_*
t e s s it started 1929..
Lol
Missed opportunity to say "hold my corona beer"
1920s also had the Spanish flu
@@slemanahmed5680 early 1920 and late 1910s
This video seems eerily similar to what's going on now. Except this time around it's central banks that have been pumping markets up for the last decade in the greatest, and officially longest bull run in US history. The stock market is over valued just like it was pre-great depression. Nothing goes up forever especially in stock markets. And cheap money has once again created inflated housing prices, wont end well there either with rising interest rates.
Nod to you crypto kronos. I'm about that blockchain revolution myself!
You are on to realize something great. I see you are familiar with cryptos. The answer to what we are soon to see in our economic world is warned of what bitcoin has showed us not so long ago. Retrace the price of bitcoin and you’ll see our future. Of the roaring 20s once again
@@joshuabono5951
Satoshi saw this coming and gave us an "out". But it's up to us to be bold and take it. Those that do will be glad they did when the next financial crisis happens.
@@thatdkguy5256
Long live the blockchain!!
crypto kronos you don’t understand. There is no safety in this technology. It may last a couple years but it will only add fuel to the fire of uprise. There is no reason to believe this will with stand in financial crisis. It is an investment has lost 90% value and has not shown any proof of rising in times of recession. The only thing to rely on in times of recession is currency as in silver and gold. Cryptos are not accepting as currency in the public eye.
you explained this with so much clarity and great detail at the same time. thanks
Just found your channel. I really like these 5 minute videos, it's a neat concept.
Absolutely love your 5 min history lessons. Dont stop making them!
溫瑞安組織天狼星詩社, 撰寫武俠小說四大名捕会京師, 四大名捕是冷血, 追命, 铁手, 無情, 諷刺蔣先生的警察冷血無情, 借古諷今, 溫瑞安出獄之后, 仍舊堅持自己坐牢是寃獄, 可以說是冥頑不靈, 溫瑞安的太太是方娥真,
I prefer to watch this rather then a 1 hour lesson at school of which I learn nothing
Don't bother with school. Just stay in bed listening to CZcams.
Yeah. Doesn’t mean this video is substantially correct. P
It is really scary how relatable this video is today
I feel like this is where we are headed again. I treated myself to a Starbucks coffee the other day and I could not believe the cost. Eventually the bottom will drop out for a lot of businesses that are not needed.
You need to do more of these kind of videos. Like the Greek bail out. This animation is very key to help people understand
Very informative! Thanks for keeping it five minutes in length!
Mr Bagel please do more of these 5min history lessons. 🙌 so jam packed with information. 🤤
Mr. Bagel 😂
Very basic but very educational. One of the best great depression video
this has quickly become one of my favorite channels to watch.
Amazing and professional format.
thats a lot of info in 5 min . great job keep it up
How many people are here in 2022 learning before the next crash? Great video by the way!
Tryna learn as much about the great depression as possible so I know what we're in for.
It's gonna be a bumpy ride strap in
The Covid situation isn't comparable. It was an external factor that caused economic disruption, unlike the Great Depression.
The great depression was worse than 2020, 2022, and 2023 combined.
2:37 - Nice Metal Gear reference.
Ü7ï
Awe shit. Here we go again
Look at us now
Great video, great format. Keep on
Nice video work Richard. I would like to make a suggestion. Can you put together an updated video about this same time period? I understand this is a five minute History Lesson but there are relevant bits of information that are missing. You have some very good comments form subscribers like P Mason and others. There are things you have to omit for a five minute history lesson but there is a series of short videos that you can make for this period and I think you can do them justice.
you guys just earned a sub!
Thank you so much for this video!! This just saved me :)
this is insanely interesting, and also incorporates humor, you might also do a video on world trade and how the strong economies have evolved. It looks very cool to me😏😱
Just change the dates to 2019 and this will be a good video for our times.
No it wouldn't.
Trump 2020 best economy in the history of the USA
@@tumadre5000 Just ignore how the economy has improved despite Trump, not because of him. Protectionist trade policies are shit and always will be shit.
Over the Top Rope The best economy in American history occurred during the 1950s and '60s.
@@a_can_of_soda yup!
This is what's next in 2022
Pandemic, War, Depression, 2020s Pandemic, War, ??????
Great editing and graphics, bet that took a while to make. Thanks for the great work.
Let's first set the record straight on Herbert Hoover's fiscal policies. Contrary to what you have heard and read over the last year, Hoover behaved as a textbook Keynesian after the stock-market crash. He immediately cut income tax rates by one percentage point (applicable to the 1929 tax year) and began ratcheting up federal spending, increasing it 42 percent from fiscal year (FY) 1930 to FY 1932.
But to truly appreciate Hoover's Keynesian bona fides, we must realize that this enormous jump in spending occurred amidst a collapse in tax receipts, due both to the decline in economic activity as well as the price deflation of the early 1930s. This combination led to unprecedented peacetime deficits under the Hoover administration - something FDR railed against during the 1932 campaign!
How big were Hoover's deficits? Well, his predecessor Calvin Coolidge had run a budget surplus every single year of his own presidency, and he held the federal budget roughly constant despite the roaring prosperity (and surging tax receipts) of the 1920s. In contrast to Coolidge - who was a true small-government president - Herbert Hoover managed to turn his initial $700 million surplus into a $2.6 billion deficit by 1932.
It's true, that doesn't sound like a big number today; Henry Paulson handed out more to bankers by breakfast. But keep in mind that Hoover's $2.6 billion deficit occurred because he spent $4.6 billion while only taking in $2 billion in tax receipts. Thus, as a percentage of the overall budget, the 1932 deficit was astounding - it would translate into a $3.3 trilliondeficit in 2007 (instead of the actual deficit of $162 billion that year). For another angle, I note that Hoover's 1932 deficit was 4 percent of GDP, hardly the record of a Neanderthal budget cutter.
The real reason unemployment soared throughout Hoover's term was not his aversion to deficits, or his infatuation with the gold standard. No, the one thing that set Hoover apart from all previous US presidents was his insistence to big business that they not cut wage rates in response to the economic collapse. Hoover held a faulty notion that workers' purchasing power was the source of an economy's strength, and so it seemed to him that it would set in motion a vicious cycle if businesses began laying off workers and slashing paychecks because of slackening demand.
Spot on description! Read Rothbards' "Americas Great Depression" to get a full analysis.
Great Video!! Thank you. Helped very much for my research paper
Im here on 2022, which matches everything in current scenario , great depression 2?
It's finally here again in 2020!
Suba Lafendi just going to be worse
no 2030
Thank you for another fantastic video! It's very educational.
But I wonder if you could do a video in the future focusing more on the Canadian experience of the Great Depression. Was there anything we did to make the effects worse than they would have been otherwise? My dad used to tell stories about Bennett Buggies (cars pulled by horses because the owners couldn't afford to pay provincial gas taxes), and how William Aberhart (the premier of Alberta) thought he could somehow print his own money and give it to Albertans (he couldn't, but it got him elected), so I know there were all sorts of crazy things going on here in the 1930's.
Huh, I had never heard of either of those things, I’ll look into them! I’m not sure if I’ll get to another Great Depression video in the near future but I’ll keep it in the back of my head :)
This video tells you nothing about the Great Depression that has any actual value
Precise and Concise enlightening video. WOW!!!
Thank you so much.
I can relate the Great depression felt in 1930 nocking at the door now, in 2022. The economy is creating gradual fear, greed, and speculation among the people globally. I believe if some theories or policies are put in place to it will reduce economic depression felt universally at the moment.
nice vid, thanks
ah would've totally accepted 7min...
Lesson : When Something goes up really high it means it will come down with double force
Fantastic illustration and informative. Really enjoyed watching.
Imagine having that much of content in such a tiny amount of time in school …
That 5 min would save 1 month of school !
Great job plain bagel 🥯!
Democrats only want you to learn critical race theory and hate the white man the racistsSOB
I love this.
Do more elaborations about the great depression
Day 6 of Quarantine: I don’t even know what I’m watching anymore
Studio Edin - I feel you 😂
You're watching what's about to happen to America again.
You are watching a very informative channel :)
Anyone here during COVID-19?
Yes, I’m doing it for online school.
I am
same here
quick check, england seems to be getting worse on the covid side of things
you mean covid 20
Watching this in 2021 hits differently
God damnnnn. I love those 5min vids.
This is awesome.
Thanks Brandon!
Less than a minute in and he already disregards the depression of 1920-21. IMO, that is critical to at least mention in even a brief history lesson about the great depression.
Edit: Even went as far to point out 1920 and how great things were going. Unreal.
Yeah its a trash explanation. Didnt mention the fed once... the actual CAUSE. The 1920 depression is also a huge mention. Nahhh lets talk about washing machines instead LOL
@@taylormcgill6643 Yep a history of the great depression that barely mentions the fed is just propaganda even if the author doesn't realize it. Banks were not giving out loans because the economy was doing well, they were giving out loans because the Fed was changing the rules for fractional banking amongst other things. The roaring 20s was mostly the result of manipulation by the Fed, along with the great depression that followed it.
@@danielwatson1376 David Stockman admitted that. This and a few other items should be de rigueur when talking about the Great Depression.
Excellent video.
this was a great video!
The only reason I’m watching this is for a school project 😂 very helpful!
Bahahaha! This is almost TOO entertaining! Well done!
Very fast and ILOVE IT!!!
Very informative!
1929: The worst economic crash in American history.
2020: Hold my beer.
2022: Hold your own beer! YOLO!!!!!
The crate depression 2019.
lol this happend exacly in 26 friday what a coincidence .
The coronavirus depression 2020
Missed class, I needed to take notes, and this video popped up. My grades are saved!
Well done, thank you.
Would be cool if you could do one of these on the persistently lowering interest rates since the late 1970s including phenomenon such as Japanification. That one is more open ended and less directly about investment...but I think the impacts are all around us.
Great depression 2.0 has began
Inflasion
1929: Yeah, we learned our lesson
2001: OK, now we REALLY learned our lesson
2008: The housing market didn't catch on, but we all know now
2022: uhh...
Well done explanation 😎👍👍👍
Knowing that the depression was started with an era framed as "roaring" makes me feel cheated this go around.
Who is watching this video in 2022, and freaking the F out!!!
Good insights.
It's really helpful thank you so much
2021's economy basically.
My grandparents lived on a farm in the South during the Depression. They had plenty to eat and were able to grow and sell farm products. Rural people seemed to fare better than city folks during that era.
Completely untrue. Rural communities especially in the Midwest were destroyed by the dust bowl and failing agriculture.
@@holymolythejabroni9040 ok truth police you know everything. I stick by my comments and you can kiss where the sun doesn’t shine!
Epic stuff. It actually goes deeper then just saying that somehow everything went great and then people got foolish
Thanks a lot for educating us.
From Galle,Srilanka
What about the Smoothie Holly Tariff Act? What about the catastrophic effects of the New Deal? There’s a lot of major stuff missing from this description, most significantly, the government’s toll in worsening the issue.
i found it funny when you mentioned "we had so much money we didn't know what to do with it, so we started investing"
uhhh....ok? How about having some money incase bad shit happens? Take a holiday? Or just...you know...don't worry about having ALL the money if you have more than you need. That's how greed thrives
...you missed the part where he said that even those with savings accounts only got 10 cents to the dollar that they had kept there.
True, they should have kept the money in a mattress. It was a deflationary depression
My God with that philosophy your definitely gonna be poor
If the title didn't said the Great Depression, I wouldn't be able to know if you were talking about the 1920 or 2023...
Yesterday I have completed 1st chapter (fluctuation) of Business Adventure 12 classic tales from the world of Wall Street, and today I stumbled upon this video, great content, after watching this short 5 minute video it makes more sense to me what I read in the first chapter.
@ The Plain Begal