The Great Depression: Crash Course US History #33
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- čas přidán 15. 06. 2024
- In which John Green teaches you about the Great Depression. So, everybody knows that the Great Depression started with the stock market crash in 1929, right? Not exactly. The Depression happened after the stock market crash, but wasn't caused by the crash. John will teach you about how the depression started, what Herbert Hoover tried to do to fix it, and why those efforts failed.
Hey teachers and students - Check out CommonLit's free collection of reading passages and curriculum resources to learn more about the events of this episode. The Roaring Twenties ended with The Great Depression, a period of soul-searching for the United States dealing with a failing middle class: www.commonlit.org/texts/the-g...
The issues of the Great Depression were made more difficult by the agricultural crisis known as the Dust Bowl: www.commonlit.org/texts/excer...
Learn more about the Great Depression in episode #28 of Crash Course Black American History here: • The Great Depression: ...
Chapters:
Introduction: The Great Depression 00:00
Causes of the Great Depression 0:48
The Stock Market Crash 2:31
The Failures of America's Banking System 3:35
The Hoover Administration's Responses to the Great Depression 5:10
WWI's Global Economic Impact 5:40
Hoover and The Gold Standard 6:57
What Hoover did (and didn't) do about the Great Depression 8:13
The Reconstruction Finance Corporation 10:04
Impact of the Great Depression 10:30
Mystery Document 11:27
Accounts of the Great Depression 12:35
Credits 13:55
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I wonder how many people just watch without having a test
At least one
Me. I just think this is completely awesome. So funny and very interesting.
Me!!
No, I just love History
Took a test, nailed it, learned nothing... So I watch CZcams...
2020 quarantined history students rise up
C Stone hell yea 😂😂😂😂
haha me
The 2020 April fools virus is going to cause a global depression like we've never seen
Let's go
my teachers is always sending me videos
Moral of the story: don't buy stocks with a credit card.
Ryan lol true, always great advice.
Dont reach too far if u poor and no brain
Muh margin trading
Have you checked out the debt load of corporations. Debt used to buy back their own shares?
Greater depression here we come
dont have either and you will do even better
Online school is making this dude some money
john green doesnt need our money LOL
I love how John Green has suddenly become my history teacher
Me too
Anyone here when their stocks are down 20% and the coronavirus is cleaning the grocery store shelves
This will be a bear market and recession, not a total crash. The banks and federal reserve are fine.
McCall until everyone’s workplaces shut down and everyone starts panic pulling their savings
@@alahjandrodagrate1611 There won't be any reason for that because the government will be subsidizing this event.
McCall subsidies for what? for research?
1.5 trillion dollars in quantitative easing. Yeah banks are fine......
Thank you for the new information sir. I am a 65+ year old born at the end of the baby boomer era. My father was a decorated WW2 vet, but a lifelong victim of the Great Depression. He watched his successful Father and Mother lose everything … including their confidence in "the American Dream". My dad went to his grave forever fearful, dreadfully fearful, that another great depression would happen in his lifetime … and sadly, it reflected in how he related with Mom and how they raised us four in the 60s and 70s. He lived in constant fear.
My grandma and grandpa both were born in 1929 before the stock market crash and lived through the Depression. One day, I was eating an oatmeal cookie and I did not like it after one bite. I tossed the cookie in the trash can and my grandma walked over and reached into the trash can, picked it up, examined it, then ate it. I told her that we had plenty and she didn't have to eat from the trash. Her reply was surprising to me, "You don't waste food. You never grew up during the Depression." It was shocking to hear that as a kid. Especially a history nerd. I never truly understood what it was like for people during the Great Depression until that day when she told me about that. Years later, my father told me that his father, my grandpa, would have one pack of gum of year because he used to save chewed up gum for weeks because it was all he could get during the Depression. And my dad also told me that when he was a kid, his parents would tell him about how they only had one pair of shoes a year. And this lasted from the Depression until the end of WWII. My grandparents were very simple people. Very grateful for having what they had. I believe a lot of that stemmed from being children during the Depression.
I did my A-Level history exam today, and when writing the Great Depression question all I could hear in my head was John saying everything I wrote in a hysterical manner. It actually helped.
Hopefully this is enough for my test tomorrow...
SAME
Hope it went well... Lol
+andrew chedid
So many problems with this video. like say...
maybe instead of central banks and inflation, we should've been more
concerned about ALL banks who loan out money that does not belong to
them and/or is not backed up with anything? we could prevent a credit
bubble from forming and bursting in the 1st place!
P.S. Watch my video CORRUPT SECRETS OF THE DOLLAR EXPOSED on my channel
PLAYITALREADY it is shorter/better about what i just mentioned than this
guy's video.
Look up Adam Norris for APUSH material.
+Βουλγαροκτόνος1014 He is fantastic!
*the big sad*
1. The Great Depression 2. The Big Ol Bummer 3. The Mighty Misery
The big sad
5.The Whopping Wailing
6.The Doozie Downer
4. CoViD-19
This program should be funded by the government because John Green has taken over my teachers job. Thanks John!
"Herbert Hoover is here and that's never good"
Best intro ever
Lol
Unfortunately false. Hoover pretty much supervised the recovery of Europe after WW1. He knew economics. The problem is the Democratic party that refused to enact any of his proposals until they got their own president, who then carried out Herbert Hoover's programs and took all the credit. Recovery would have come much sooner if they had cooperated.
@@michaelwoods4495 Hoover knew how to make money but his understanding of economics was terrible. His only saving grace is he recognized a bubble was happening. Other than that, he was terrible.
Anybody else thinks we are re-living history?
TomimiDezu 🙋🏽♀️
History always repeats. Thats why it's so important to know the history
No, things dont even compare to the last century.
Julio Zep Aaaaand the Dow just dropped over 900 more points
trust me, the great depression was WAY worse than what we are experiencing
"I wonder if we would ever find ourselves in that position again... oh, wait we did in 2008" lolol
Mr Green you are the man!
2008 was just the beginning..wait & see whats coming next
Oh if only u knew
How bad it's really gonna get
Michael C great prediction
And Again.. 2020 :(
How oblivious we were 5 months ago
John Green has so much more personality than my boring history teacher
Ikr
of my goodness, that is so true. All he did was talk about his medical life. I didn't fail only because I have a parent with a history degree.
@@hannahdykstra1014 Good for you.
I could watch this 3 times and not grasp it all...
I feel sorry for you?
Grasp = Memorize
My friend If you have to watch this 100 times Do it. is worth your valuable time.
Watching the crash course on economics helped me understand this a lot better.
I agree, that was alot of words. Especially if you're not interested in economics.
I find it rather suspicious that after all these years no one can give an explanation for the cause of the depression that the layperson can understand well enough to repeat.
Anyone watching this during “The Great Lockdown”?
When good old John Green becomes my new history teacher without officially knowing it. Thanks for helping me on my final!
my great grandma was born in 1920 and I thought it was the funniest thing. this little old 90 something year old lady would sit there and cuss out herbert hoover. someone I honestly have no opinion of
Joe Bloe I’m guessing we’ll be doing the same thing with the last few presidents when we grow up.
How my Grandparents cuss out Truman
How my Parents cuss out Carter
How I cuss out Trump
Can't cuss out Trump, since the corporate media does it constantly, they doth protest too much. Obama on the other hand, was their golden child. Hardly a hardball question or scathing criticism to be found in the worst 8 years of modern American history.
Yes it was terrible that time Obama wore a tan suit or had mustard on his burger wasn't it?
Also, hobbit homes and FEMA camps.
Hi it’s ten years later
I want this guy to be my history teacher :'(
Isn't he already?
The big depression 2: electric boogaloo
Germany didn't completely pay off its WWI reparations until 2010
Because my country only lost wars against small countries far away that could never enforce any reparations.
one all three of yall are wrong and I'm in the 5th grade
You have not backed up your claim, please back up your claim before revelling in your own self grandiosity.
October 10, 2010, Germany made a payment of $94 million (USD), the last reparation payment
Wait, we were still making them pay reparations for a war that occurred around a century ago? Even after everything that happened since that war? Wow
Probably nobody going to see this, but I think that it would be generally helpful if we were given a maybe 1 paragraph overview in the description. Just a suggestion. I love these videos, don't get me wrong, but I have trouble actually processing John Green talking. He talks so fast!
Yeah I agree. It's hard to follow what he's saying because he talks so fast
"The first elected office that he ever held in his life was President of the United States"
Wait are you telling me this could be a bad thing!?!?
Keenan Sullivan trump and Hoover are really similar! they are weirdly similar! Hoover expressed COMPLETE faith in American system, and would rather blame foreign forces than reform USA system. He rejected all proposals for big government plans, relied on voluntary private charities and local govt to take place of federal government, said that handouts would undermine American character, and he also cut taxes.
@@kyliep.4858 Oh my favorite! (╯°□°）╯︵ ┻━┻
Keenan Sullivan 😩😩😩
This really is a CRASH course all right.
Get it?
Like the stock market crash.
GlassOfJuicePlz J haha
stop please
Lol
Neeeeeow.... BOOM! (muffled screaming and wailing)
I don’t find you funny
Anyone else watching for an exam tomorrow?
hahàhaha yesss
Yes yes yes
If you are watching this for an exam then you are totally fucked.
+xm377Moyocoyatzin thanks for that
+Annie ur welcome
How we all doing then, everyone feeling okay, experiencing any existential terror?
if your watching this in 2020, that means your teacher made u watch this during quarantine
or you're out of school and just enjoy history
Or you’re forced to understand the Great Depression because you have a school project in it
Alpha Dem0n how’d u know
bruh that y im here :'v
That's what our teacher is having us do.
Anyone watching this thanks to the Coronavirus?
superfluoustoker I’m watching this cause of my online classes
superfluoustoker yep
When your school makes you watch youtube videos for "school"
superfluoustoker yep it sucks
100 years from now people will think coronavirus caused the greatest depression and something like crash course will provide more insight.
At 3:37 there are people fucking in the car at the bottom left xD.
"the brothel on wheels"
at 3:54 its a dude taking a picture of his junk
Titanic spoilers
"If this Model A is a rockin...."
Liking this comment so that every high school class watching this video sees it
If anyone feels like becoming depressed today, feel free to watch people attempt to sound smart in the comments.
more palatable than polarizing science video comments.
As she tries to sound smart and snarky.
Ok
TastycakesLol E=MC squared on the hippopotamus
My Dad was born in 1927 and the Great Depression and fighting in WWII definitely left its mark on him.
"I'M GONNA HIT THE GLOBE!"
*Small crash*
"Nailed it."
Teaching at it's finest.
One of the biggest myths of the depression was Hoover did nothing. In fact FDR’s treasury secretary said that most of the new deal was started during Hoover’s administration
2020 thinking there would be another Great Depression because of COVID-19
Health comes before GDP, no one should care about the economy right now.
Julio Zep Until the economy affects people’s health.
@@heyyou7881 assuming the governments around the world take unprecedented action to keep people afloat this shouldn't become the next great depression imo
Nobody asked
There was an economic crisis looming regardless of coronavirus. But politicians will use this virus as a scapegoat.
Hello to my classmates who are forced to watch this
My head hurts.
Anyone else find it easy to get distracted watching this video not pay much attention to him cuz he speaking hella fast 😂😂🙋🏽♂️
"The huge anxiety" in 2029
Jade Rom Lucero Came 9 years earlier
I’m here because of the coronavirus🥴😩
SAME
A Lou yes I think we are going into Great Depression II 😰
Me too..
A Lou same!
A Lou me too. Just watch some counter arguments to this. For example they saying deflation was better than inflation but both are terrible.
And the Great Depression lasted as long as it did for more reasons than not leaving the gold standard and other progressive economic ideas not being implemented.
This channel is the best! Thank you very much John Green and to other supporting casts who made this video so AWESOME!
Am I the only one who noticed the people having sex in the car at 3:35?
Console Guardian They're scoodly-pooping
I think so you pervert.
***** I am going to watch this video again.
Jermaine hahaha dancing cars #pk
Jermaine a car did speed by at 3:35.
My grandparents were poor and very affected by the depression. But, my grandmother, bless her soul, was known by the transients (hoboes) in town and that they could get a warm and filling noonday meal. They would line up at her back door, and she would bring out a big kettle of soup or other simple foods, and made sure that these poor souls got at least one hot meal during the day. My grandfather wasn't thrilled about it, but he knew that she never fed them until HE had his hot meal of the day first. So many folks rallied around at that time in our history, helping others even though they themselves were hurting, too.
This is John at his best. You can tell his strength and passion for economics
Anyone here because it’s as if 1919 and 1929 both seem to be happening at the same time, this year?
This has been predicted by Karl Marx though. A capitalist system built to favor a small class of people that accumulate wealth without a cap tends to lead to an economy that eats itself. The corona virus may have made things worse and accelerated the economic downturn but we were already over due for one according to the few economist that aren't delusional.
1. We need a wealth cap.
2. Businesses should be structured more democratically (worker coops) to install checks and balance, transparency, accountability and increased economic mobility in the workplace.
3. A more comprehensive progressive taxation system.
4. The economy should not be run mostly on debt. There should be a limit to how much debt is taken.
5. Essential work should be tax free such as doctors and farmers to safeguard those positions while also encouraging more interest in those essential jobs. (Just an idea)
6. Central banking is necessary and there should be better regulation on federal printing/spending.
We are due for another economic recession if it wasn't the Corona virus it would have been something else
Hunterchuck Those sound like good and interesting ideas. Is there a way I can contact you so that we can discuss them further?
@@filmfan885 The only other place to contact me is through Discord (which i hardly use nowadays) Tengen#7136
These ideas are fine to talk about but in no way would we ever expect these ideas to actually be implemented. What i would strongly advocate for is not really popular enough among the common population and the members of congress who actually work the process. For now, it's just talk and ideas (that may or may not actually work).
Hunterchuck I added you a minute ago
good luck tomorrow guys, we got this!
Back here in 2022-2023.
11:29 damn, I really felt that
Stay tuned for "The Great Lockdown" of 2020's
3:38 Couple "boinking" in the car "Titanic" style!
Suhail Agha
That’s their way to cope with being greatly depressed.
He makes learning fun...
History Repeats itself today 03/10/20
GOODLUCK YALL
Yeah that's right been here waiting
@RigoRocks23 hate to be Right...are u ok?
Somehow the history of the 1927 stock market crash never mentions FDR‘s part in causing the crash. FDR was New York’s governor, and at the time, the states regulated the stock exchanges. FDR failed to properly regulate the New York Stock Exchange, the largest stock exchange by far, and that led to the wild speculation that led to the crash.
Man you're the only person that has made me interested in this stuff. Too bad you weren't my history teacher or else I may have passed lol
Lol time to learn history before tmrw.
I have a test on neurobiology in nursing next week and I'm watching this oops lol
Zander Mort did you pass?
@Kureo Mado what about the impact of coronavirus on the neurobiologie and the economy. Hehe check mate
"I've never had this much fun since the stock market crash of 1929! So many orphans..."
Yes, i literally came here because of Hazbin Hotel
@@wanderertxt same hdhdgd ngl
@@wanderertxt S A M E xD
I came here from that too lmao 😂 history is quite interesting.
Thanks John for taking time out of your busy schedule to make these! I got a 95 on my last test thanks to CrashCourse!
This is an incredibly broad topic, and you did an amazing job shrinking it down to the bare bones. One of your best videos yet. Thanks team!
Hold on here, the deflationary cycle could have happened because of all the consumption during the 1920s up to 1929. The fed already pumped lots of money in the economy by setting low interest rates. This made for an increase of the money supply across the country by more than 50% if I read it right.
This can explain the deflationary period and asset bubble in the stock market. More loans default due to overleverage because of the liberal loans. I miss good old Austrian economics in here :)
By the way 2020 exam history student :)
In 2015-2018 in perkins oklahoma middleschool in 8th grade my teachers always played your videos and taught us through them 70% of the time and it was always so interesting and I just came across this channel today and thought it looked familiar and then I realised why. Thank you sir for your dedication to teach 🙏
My great-grandparents died of starvation during the Great Depression. My grandfather had a wife and 7 kids, no job. He stole bread from a store and was in jail for 6 months. During that time, no one could help his parents, and they both died. It says on their death certificates--Died from malnutrition. A truly sad time.
SO HELPFUL this dude saved my life
+Turbo-Charged Gil Same!
+Turbo-Charged Gil If only he could have saved Augustus Water's life.
History repeats itself
many parts of places all over the world are still suffering from things like this.
Can I just say again how much of an amazing resource this videos are? Thank you Crash Course team!
Thank you! I rarely comment but I have to show my appreciation for this great info.
7:15 A president who's never held an elective office before? Wow your not going to make that mistake again... Oh wait.
6:34 And then, when the world needed more trade, America responded by increasing tariffs to their highest levels ever. The idea behind the tariffs was to protect American industry, but since Europe responded with their own high tariffs, this meant less buyers of American goods, less trades, fewer sales, and ultimately.... fewer jobs
@@mattpopovich no worries, 'Murica is now led by a stable genius...Oh wait.
How is this a mistake, no bad habits
Oink Oink he may be a little unorthodox but he’s the best god damn president we’ve ever had, give me one reason why I’m wrong
Anders Mueller The burden of proof is for you to show why Trump is a great president.
It's sad watching this in 2019 :(
same
Why is it sad?
Why?
nahh
@@randomdontbanme3154 because in the next 60 yrs this will most likely repeat.
Three words folks: The Federal Reserve
Understand this plus fractional reserve banking and you will understand any and all bubbles and busts
@@manuelmontouliu830 also watch mike maloney and his series about the history of money
@@manuelmontouliu830 and "how the economic machine works by Ray Dalio"
The creature from Jekyll Island by G Edwin Griffin. This book is a must read for every person on this earth.
I really like these videos but I think that there's just too much information squashed into such a small space of time. Yes - I know that the video is 14 minutes long but he just talks so fast.
It happens to me too. Click the cc option (close caption) so you can read while he speaks. Its helps
Rebecca Wood If you hit the settings cog, you can set the speed to 0.5 sometimes, depending on how you're watching.
Oh really? Thank you :) Liam Crooks
Rebecca Wood its a crash course. what do u expect? if john green had to talk slower this video will be a movie of about 1 hour
Haha true Divya Prabha
Watching this just out of curiosity.. can't imagine if I had to mug it all up for exam!
Easier when you have learnt it all before but to be fair this is done in a way more interesting format than mist educational videos and that helps lol
@@thraitor7819 yeah it is exciting..but only when taught in this way. Otherwise it could become boring
I have to expand the effects of the Great Depression in different types of people in a 30-40 minute speaking presentation
The problem with this analysis is that employment is always a lagging indicator of economic growth or decline. Bringing on new employees or laying them off is always a reaction to changing economic conditions, not a cause of it. Using employment to indicate the beginning of a depression is like using flooding to mark the beginning of a storm.
My SS/History teacher shows us some of these and since I'm a history geek I just watch these in my leisure time now😂
Sameeeeee
You're so cool oh my god
A super rich businessman who has never been elected to any other office? That doesn't sound anything like any candidate that could be elected within the next year.
History truly repeats itself.
Hoover was a former head of FDA under Wilson and former Secretary of Commerce under Harding before being elected to the Presidency.
Elected office, not any public office. The offices you mention are gained through appointment not elections.
History is a damn circle
*Liberal* By the way, Trumps been a great president so far
It's great that this channel tries to present the other side from the conventional wisdom. That's useful. The problem is when kids only know this.
I learned significantly more watching this for 15 minutes, than I did in 3 years of studying Economics at uni
Well done, I really appreciate how neutral and objective you stay through all your videos and material....awesome!
When your school tells you to look this up and Answer these fukin Questions !!!!!!
+meliek “Proshadow2011” spencer Fucking straight man
Bruh LMFAAAOOOOO I remember this lol I had to do a assignment on this video lol
Time goes by so fast it's April 15 now
-
jo mama
TO ALL THE YOUNG PEOPLE COMPLAINING THEY ARE HERE JUST BECAUSE OF SCHOOL TAKE NOTES. THIS IS GOING ON RIGHT NOW IN YOUR LIVES. HISTORY REPEATS ITSELF, PLEASE PLEASE PLEASE TAKE THIS TIME TO LEARN
Lol when your AP Test is Units 3 - 7 and you have to calculate the exact Crash Course US history range of episodes to watch
Where are you starting from?
I might get the great depression if the prompt is the great depression
I'm doing the exact same. I am going from 5-36
@@spamspam3298 5-36
5/6 - 37
Pretty much from the end of the Seven Years War to WWII
So having a president whose first elected office is president isn't a good idea? Hmm.
And why would you mention this?
Akumu74 isn't it amazing what you can learn from history?
Yeah. Like how the Electoral College causes winners to lose and losers to win.
And how the electoral collage is outdated and unequal in its antiquity.
How? I'm not trying to challenge you I genuinely want to know.
Thank you! This really helped me for my research paper!
Thanks this helps with my Project! I would like to add that this is very well organized. I like how you combine facts with a bit of comedy to keep the audience interested. Nice job!
This is my favorite learning channel
if a 14 minute CZcams video is good enough research for exams these days, I worry about our educational systems.
AP test on friday... RIP
The failure of the Federal Reserves and President Hoover's signing of the Smoot-Hawley tariffs were strong contributors. FDR's unpredictability kept the economy from recovering. You need capital for Capitalism and certainty for people to risk their money in investments.
Welp now Team Fortress 2 is experiencing a "Great Depression" right now.
Before the Great Depression, panics, recessions and depressions lasted no more than a few years. The government never involved itself in these short setbacks. Suddenly in the 1930s, the Federal Reserve raised the discount (interest) rates and the United States government raised tariffs and taxes and increased regulations on businesses. The Great Depression lasted 10 years. And the New Deal which raised taxes even more and increased regulations caused the economy to be even worse. The trough of the Great Depression occurred in 1937, four years after the start of the New Deal. Secretary of the Treasury Morgenthau stated, " We have spent millions of dollars, and it has done nothing."
I guess the upside of the horrible events happening right now (pandemic, record breaking unemployment, etc) is that more people are turning to history to try to learn from our mistakes and take the best foot forward. Keep on learning history, it's always more relevant than you think!
I’m here during quarantine and learning about this Great Depression
I love Crash Course. It's my go-to place to learn & understand my world.
Love your videos! Even though I am done with school I still love to learn new things! Sadly I wasn't taught a lot about the 1930s in school : (
I love the random pop culture references made in the Thought Bubble.
Government involvement is not the best solution to fix a recession it make a bigger bubble in the economy
Damn! This 1929-1939 Depression looks just like what I see today in the U.S. The events that lead to the Depression are almost the same as now. Does anyone else agree?!
That's why they would love to go digital with no cash. Then, they can tap your credit account. There will not be bank runs, and credit will never freeze. They will stop using numbers to mask the inflation. They just say, this cup of coffee is 1 "credit". Instead of " this cup of coffee is a million dollars"
No, not even close.
Because underlying cause is same I.e. Excessive money printing by federal reserve
Proof: in 1931 USA government Devalued dollar from 23 dollars for ounce of gold to 35 dollars per ounce of gold. Even then they had to declare private holding of gold illegal
could not be further from the truth