This is what happens when you live on credit. My grandparents were born in the 20's, and told me how it was in those days before the crash, and then after. Both of them were determined never to buy stuff on credit if at all possible. If they didn't have the cash to buy something, they just did without it.
The problem today is that the 'cash' has been progressively and seriously devalued: you put money away and you find later on that it buys nothing. It's being said more and more that the 1929 Crash was deliberately set up by the Fed banks (which were and are private, not Government, banks) to wreck the country's economy for their advantage.
Hardly matters because the credit debt we have today, aside from housing loans are no collateral loans. If you default on your credit card it hardly matters. The credit they are referring to in this video are in regards to margin credit. That was the trigger that set the fall. (Margin Call)
Exactly why I'm scared; but I only echo what many experienced, prescient economists say. I just hope there are enough checks and rational humanitarian minds in power to limit the damage. @Just For Fun
@@jademelrose8765 So many of the safeguards put in place during the Depression to ensure the stability of the market have since been “deregulated” and we’re back to the 1800’s ten year cycles of boom/bust. Thank you, Saint Ronnie…../s
@@kandyaxelrod8797 Stupidity implies ignorance and innocent intentions. This was sheer greed and unfeeling malice disguised behind an air of generosity. America is a land of extremes; either things are going ungodly well or it's 1929 or 1973 or 1979 or 2008 all over again. They just like to find ways to fuck over the rest of the world in the process. The American cancer has only grown more powerful in 94 years until it's become a game of "follow the bellend" to the bottom rung of existence. Calling America anything other than a soul sucking leech or a cancer at this point is like calling Putin a friendly and nice hearted guy. Overly generous at best and either delusional or propaganda at worst. They're gonna drag us down with them but we have to follow the retards or the entire rest of the world will shun us.
My Great Great-grandfather lost his fortune. I'm told he was thrown out of his factory along with his management and employees. It's crazy tonight you sleep a rich man tommorow you wake up poor.
My mother’s family were dirt poor, even in the 20s. So when the Depression hit, there wasn’t a great change in their lives. My father’s family, another story! They lost three of four houses, sold four of five vehicles, had to let go their cook and two maids and do it themselves. Mom's family moved out of Brooklyn to Long Island. Grandma took in washing, house cleaned, cleaned a doctor's office, cleaned the post office. The children did the laundry, picked up, washed, dried, delivered it, all with hand cranked wringer washers. By summer, they lived in an army tent, in winter, in the summer beach shanty of the people Grandma cleaned for. They had no running water or electric until 1938, by which time two of three children had left school for work. Then they moved to a summer cottage with electric.
Yaser Elwishahi It depends upon your attitude, whether you’re worried. The kids weren’t worried; it was simply the way they were used to, Mom, especially since it’s far better to be poor in the country where you can have a garden for produce, keep a few hens for eggs or eating if they quit laying. The playground was the woods leading down to a beautiful beach on Long Island Sound. The tent was camping and the beach house was theirs for the cold months. It had a coal/wood stove for heating and cooking. There was always some kind of soup, stew, and a kettle of hot water for tea. Tea might be from the grocery, but it was more often herbal, picked or grown nearby. Even in my fathers family, nobody bemoaned his fate. Grumbling or any type of “emoting” was something one simply did not do. It was counterproductive, and made you a “slacker,” --a lazy, good-for-nothing bum.” The welfare of the group always came before personal fulfillment. If you didn’t like something, you sucked it up and moved on. It was not until after WWII that one heard talk centered on “I, me, mine, myself.” Prior to WWII, if there was any emphasis on the individual, it was to meet one’s obligations towards others. Of course there were feelings, but these were a mere by-product, not the focus of one’s existence. Funny how The Greatest Generation gave rise to the Boomers, the most self-centered generation in history. Somehow, the willingness and value of to sacrifice self
My father was born in 1919 on a small self sustaining farm and because they always paid cash for everything they survived the depression ok. They had veggies, hogs, cows for milk and cheese as well as meat they had fruit trees and honey combs so, they did well. My mother was born in 1926 and my grandfather worked for the city of Detroit. His job was secure but as the depression went on mom and her sister spent school breaks and summers with her aunt and uncle on their farm coming back to the city for the school year with their father.
My great grandmother was a child when the great depression hit and would walk around at night when drunk men would leave the bars and they would drop their tickets by accident while intoxicated and she would pick them up and bring them home to her father so he could get shoes.its nice hearing and listening to her stories about her experiences during her time going through it. She's well and alive as of now.
Guys, this is my personal opinion. The great depression, 2008 crisis and the covid crisis teach us the need to save money, learn how to manage money , not spending more than we earn, not living in credit and always being prepared for difficult or worst situations. let God give the middle class and the poor, the strength to survive during these difficult times.
School's are run by the government they aren't going to tell the whole truth and story and bank's are the worst place to put your money in they steal it with all the fees
I just love history. America is just crazy. It has such great history in such a small amount of time. Think about it how long has China been a country and we are so young as a country yet we have accomplished so much. It is just crazy I love hearing about it.
You don't even know how you talk......yet you use your mouth to Mock God? Did you create your own mouth? Do you see past death? But God opposes the Proud.
Thank you for sharing this video. I sat next to a charming lady on a plane last night who grew up during the great depression. Seeing this video really brings to life the amazing experiences she shared with me.
While watching this I couldn’t help but imagine a documentary 50 years from now, also talking about the “twenties”. It will be very very similar to this one. Except the footage will be in full HD and will feature even crazier clowns running governments, almost all else will be the same.
Hank's deep thought of the day: A great depression is easier for poor people; they were used to being poor before the depression started, so there's less to get used to. Please discuss.
Discuss? Are you kidding? The hair trigger need to be offended these days would sound too much like the wailing of Howard Zinn on what torture his life in the USA - which of course he never wanted to just leave for greener pastures - was, which it seems he never got over. I guess he either thought the rest of the World was utopia, or that the USA persecutes every nation and there's just no escaping the intense oppression of all those evil people who love freedom more than government handouts.
According to Joseph Stiglitz (Economics) "The crash was inevitable. It was just a matter of time, it was inevitable." Those words, in my opinion, ring true today; even more true today.
kodachromefilm Depressions are inevitable We have staved them off for 50 years but they will get us finely and getting out will be a problem. Our constitution says gold and silver is money, got any?
Sidney Boudro How are depressions inevertable ? I say they are quite deliberate ( and therefore utterly avoidable) and where did the billions lost in the depression go ?????????????????????
Sergei Jakube Depressions are unavoidable when there is to much money printed. The next step is to print less which causes a depression. There is the other option is to keep on printing until the money is worth nothing this causes sky rocket inflation. Our politicians have never been able to walk the fine line between the two.
Here in Canada, Vancouver real estate over the last decade has experienced a major speculative boom with 45% of Vancouver homes now breaking 1 million and still climbing fast. Looks like a big fat bubble to me.
+Remskii In the last year alone, the average detached home in Vancouver rose 20% in value. Its like a feeding frenzy with houses selling within weeks or days of going on the market with competing bidding wars, Its insane.
+rEdf196 Born and raised in Vancouver since 1964, I hate the god damn rents going up every effen year. My one bedroom on the west side near VGH where I was birthed is $200 to $300 more than on the east side, only about 10 blocks away for the same damn apartment, what's up with that!? I am so sick of the rents here not just the prices to buy a home. People are paying half or more of the pay on rent these days, this has to stop some how.
+Al Uma Naughty There are an awful lot of high flying global investors with deep pockets from China, US, Europe, ect They snap up properties then flip a year or 2 later make a couple hundred thousand in profit. I have heard lots of stories of unoccupied homes going through multiple offshore owners. old homes getting demolished to build monster mansions. and pricey rent apartments too. My ant and uncle bought property in New West Minster in 1962 for $25000 today its worth $1.3 mil double what it was just 5 years ago They hate all the growing yearly taxes they have to pay. I am sure many apartment owners are feeling the pinch too. reflecting in the growing rent fees.
rEdf196 I know, it sucks, eh? it makes me sick, profit before people will be the down fall of nations, it has been so in the past but people tend to only remember from the time of their births or a decade or so before.
@@BrockJamesStory You do not know it was likes of Morgan and Chase that created the Fed. for their benefit ? And Gold Sachs, Bank of America are just new fronts like they were for British money to own America again through great deception ?
the real problem is interest and people spending money they dont have. the market is a place for wolves ready to feed of people. with no interest theres no unsustainable debt, its a system thats destined to fail over and over. its fantastic for the banks, making such incredible profit so easily and the corporations love people buying and buying their products. whos going to suffer in the end the common person whos not a millionaire/billionaire
in 2008 crash, loan defaults of all kinds put together comprised less than 3% of the total losses, the rest was the derivatives bubble blown by the 1% ... and then we made them whole by printing up $12 Trillion and putting it in the hands of the bank shareholders = the 1%
That's why its going to crash it's Inevitable and on top of that there's more debt money around then real money Bills in circulation so how to back up iou Bills with too little real paper bills to service that huge debt?
@@SirRocalot With American land and people who were signed over at birth for value of their lifetime labor through Corporation Capitol letters on their Birth Certificates, D.L."s and Social Security cards. Only Corporations use all capitol letters to show their incorporated. Why do you think the Elite are grabbing as much money as they can get their hands on and put in out of Country banks/realestate in knowing it cannot last forever when you bail out the ones who caused the problem again and again.
You get it. It wasn’t the fact that people were buying stocks. It was people buying stocks on margin. Once the market crashes, the brokers make margin calls and the investor can’t fulfill it, the investor loses their shares and their original deposit. If a person invest with expendable income, even if the market tanks, they still have their shares and can just wait it out until the market picks back up again.
Owning land will be the best way to weather what might come as a result of the crazy, damaging policies set in place by a certain old, confused man and his cronies in the past nine months.
It is so easy for us to make the same mistake again, when greed takes over, being not happy with what we have. " For the love of money"... and i think we know the rest. I feel another one is just around the corner, recession, that is.
All four of my grandparents, both parents and their siblings grew up in the Depression. I never knew my dad's dad or mom's mom. But I do know my dad's mom showed how she was affected as she got older. She never threw anything away if someone could use or fix it and used to go dumpster diving. So sad to see how people only looked at the profit, but not the loss.
My dad had 4 fridges and freezers and we were only 4 people on the house. He just never wanted to be short of food. It was difficult for me to understand, as he grew up on a big farm and they had pleny of everything. But the depression made an huge impression on people.
@@barbarawright5774 It sure did. It was a time of institutionally driven anorexia. Once you’ve literally starved for a protracted period of time, you never view food the same way again.
@@blakerich5804 The point is a crook knows and recognizes crooks. Wall St. is nothing but a massive scam for the wealthy gambling away the working class's efforts and hard work. They get bailed out, working class rarely does.
I' dress up and look for work as well. Any decent man would do this regardless of whether or not you told your family you did or didn't have a job. Its one step in front of the other.
I assume the impact became so devastating was instead of actively seeking employment and earning wages they were deceiving coercing themselves and families. Running Every morning over to "Wall Street " insider trading " one can only imagine the empty stomachs thirst and dehydration, the poverty level rippled throughout the socioeconomic global economies.
Nothing complicated about the great depression, it was a national poker game. They wanted to enrich themselves by gambling on the market; anted up, bet and lost. Many saw the writing on the wall, rushed to withdraw their money from the banks and many of the banks also folded. Our family was poor in 1929 because my father could not find work and my mother would pick dandelions to make soup for us tots. Father finally got a job as ship's engineer taking coal across Lake Eire until a storm sank the ship and he drowned. My mother then took us three brothers ages 6 months, 1 yr and 3 yrs back to England where she came from. That's life...no complaints.
@@KP-vg3zn My grandmother was born in 1929 and she is completely cognitive, active, lively, and yes she knows how to use the internet. I am young but your comment is disgraceful, rude, and disgusting. But I am sure it is a direct reflection on how you were raised so I do not blame you.
Wow..I'm so fascinated with American History told by the people who actually have first hand experience. When people actually worked towards and demanded their piece of the American pie .
In the end, his response may have been smarter than Roosevelt’s. There’s significant data today to indicate that FDR’s New Deal actually prolonged the Great Depression for years longer than it otherwise would have lasted. In the end, it was WWII and the resulting expansion the manufacturing base that saved the economy. In addition, it was Roosevelt who set us on the path to becoming a debtor nation and destroyed federalism, two issues that remain problems for us today, especially in connection with the Wuhan Virus.
Linda What would you have a president say. "Everyone we're all in a world of shit"??? Everyone freak out , panic, run, hide. Seriously don't be naive Linda
April 18, 2020---Dad & Mom grew up during the Depression and I listened to their stories. Which is why when food was flying off the shelf, I wasn't worried. And no doubt, the same people who went to hoarding tp, etc. won't of learned their lesson.
I was given shares in my company for my 401K plan. I wasn't told I could trade those shares or do anything really with my 401K. I was told that was all handled by the investment companies handling the accounts. My shares increased 10 times what they were when we were up for purchase. I didn't know to sell then, when the stock was at it's highest. The next day the stock plummeted because the deal was over. In other words, I didn't know what the hell I was doing in the stock market. I lost about 100K because of this.
I distinctly remember in history class in grade school and the teacher proclaiming that the federal reserve(lower case intentional) was instated to prevent things like the depression from happening. The stock market crashed in 1929 and the fraudulent reserve was instated in.......1913. I wish I could see that teacher now because I have many questions about her claim I would love to ask her.
@@mikerice5298 And in recent history, we can trace that right back to St. Ronnie of voodoo “trickle down” economics and the rampant “deregulation” of all the safe guards that were put into place to ensure the Crash/Depression wouldn’t happen again. Destroying the power of collective bargaining starting with the Air Traffic Controllers resulted in the gutting of the blue collar working class. I’m really pleased to observe the recent rise of worker discontent and now, the word “union” is starting to loose the negative connotation the government tarred and feathered them with. Many people DIED for the right to collectively bargain in the early 1900’s. How quickly we forget……
Come think about it,that generation was pretty resilient，after all the despair，sense of helpless and humiliation，they could still rise above from it.Watching the historian talking about feel the shame of his reaction of his father‘s job，almost brought me to tears.Nowadays kids with much minor problems needed therapy，and it may still scare them for life.
"It (the stock market) sort of cut loose from its moorings by which I mean, instead of being based on real values of the underlying companies, it was a speculators market in which people bought and sold stock thinking that if they bought it now, they could sell it later for more money." Anyone else seeing some clear similarities to this 2020 situation!?!?
All of the things said about the stock market in the 20's on this documentary can be said about TODAY's stock market! Believe it or not, we are living through the same period again.
@L D bring down the cabal by all standing up against it , together we are strong & can beat them , one thing for sure is to never let the story of " the man who didn't kill himself " fade away , these scumbag pedo elites are the ones who are killing us , don't know if your up on what been revealed about Dr death FAUCI & hows hes been connected to the wuhan lab & but what they have in store for us is evil , this is nothing tho compared to what is planned for us next winter .. everyone , please , its our time now to rise & stand up together against these vile elites ...
Churchill was not there by chance. He was Chancellor Of The Exchequer at that time for Britain (The US equivalent of the Treasury Secretary). He was taken there by the head of the Bank Of England because they were about to show him how they (along with the FED) were going to get back all the gold that they had to give to America from its World War 1 loans. By suddenly withholding any more loans for stock purchases and calling on all margin loans to be paid immediately, they forced the massive sell off and crash. Some of the banking cartel's associates were told in August '29 to get out of the stock market as quietly as possible. Churchill was just there as an observer and had no say in the matter.
too much money out and not enough back and people panicked due to an earlier problem and experience and memory of that rush so confidence dropped rapidly
to people of the future: this is eerily similar to 2020 coronavirus crash. we're currently about 3-4 months in. is this some sort of unavoidable cycle? creeps me out.
"The things that will destroy America are peace at any price, prosperity at any cost, safety first instead of duty first, the love of soft living, and the get-rich-quick theory of life." ~Pres. Theodore Roosevelt
You are rich when you don't need money. After decades of frugal living and not servicing debt we get a shock every few months when we analyze the accounts and see how much has accumulated. Because money doesn't hold value we keep investing in land, building, and businesses that do. Our grandparents owned land, grew food, and had cellars full of food. There was never a last minute trip to a store to buy a few items. If they needed a doctor they traded food and other services. It may come to that again.
My mother, born in 1927, said she remembered fishing a half-eaten apple out of the garbage can behind her apartment building in Jersey City, NJ during the Depression. They were so poor, they took food when they could.
I remember my father, who had worked for .25 a day crying like a baby when Roosevelt died. Him and fifty million other men . Contrary to current opinion, we are definitely all in this together and dependent on one anothers actions.
We are better now, if there are market crash , people will be panic , but not on the street, but in social media, it will become twitter trending,facebook trending ,tiktok and else
***** says: "The vast majority of young people today that I meet have absolutely no interest in history," == If the majority of people had a habit of learning mistakes and successes from the past, there will be no such thing as Tea Party.
***** says: "War On Drugs, its al bullshit" == I would add on top that, "Gun craze", "anti-Immigrants", "anti-government", "free market worship". Whether you like to admit it or not, they were in common place in 1920s-30s.
allgoo19 Why do you need to have a job and why ( for most people) must it be full time ??????????????? And where did the billions lost in the depression go ???????????????????? I look forward to your answer, Elvis
_"the thing is people never learn from history and are doomed to repeat it"_ That's not the issue. Muricans KNOW about their history. They just build a huge military in order to stay credit-worthy. The USA is the country with the biggest debt by far... why do you think it's still not bancrupt? Because they take what they want. They steal and rob everyone with no significant consequences. The USA is the cancer of this planet.
My neighbor lived through the Great Depression. He was out of work, saw a construction crew laying a foundation, and joined them. After a couple of weeks, the boss asked him what he was doing there. He said he worked there, and the boss put him on the payroll.
The stock market was compared to a casino and many of the top speculators used the naivete of the average consumer to swindle them and make money. Reminds me of a relevant quote: "If you're in a poker game and don't know who the mark is it's you."
You can't fix the free market. People are free and use their best judgement to proceed with their financial decisions. Uneducated people make uneducated decisions. US really lacks in quality education and common sense for the majority of people. Other than that you can literally speculate a market crash at any moment. Literally any moment. That means nothing. A market crash is not a bad thing. You can make money from or during or after a crash, depending on your investment style and your financial approach. Also a crash ensures the market reflects the real prices of things. In essence anything that goes up can and should go down. The main issue with great depression is the combination of politicians being ignorant and looking after themselves (always the case), people making decisions that had little to no understanding (honestly their fault). The only thing that could improve this would be to introduce financial courses in school and to have certain barriers on who can invest and how much, which would prevent many parties from making money so i don't think it would ever happen. I'm not even sure it should.
Since then the gov has implemented various socialist programs, apparently including a financial backing system that can postpone a crash for much longer, but with a greater power grab once they have to do it. Back then was a simple plundering of the people's money, but they have something much bigger in store next time around - a total switch to a more controllable financial system, and a new world power center, including caps on population and limitations on their way of life.
Not only should you not buy on credit, you also need to diversify your assets. Stocks are cool, but you have to have other assets like bonds, precious metals, real estate, etc. to prevent stock market crashes from ruining you.
Cryptocurrency market had a crazy boom for two years followed by this current beer market. This is obviously history repeating itself as the elites control every material in this world. Luckily for the poor they and I myself have nothing to lose since the only way we have to go is up. It’s times like these were opportunists take advantage to make money. Matthew 5:3
Key word he said was panic at times like this key is not to allow emotion or panic as Rockefeller said buy when others don’t want them sell when all others crazy buy
Self sustainability. At least as much as possible. Owning land, building your own house, making a garden, maybe even animals if you can afford it... Pretty much trying to save as much as possible that when the opportunity presents itself, you can take it.
This is what happens when you live on credit. My grandparents were born in the 20's, and told me how it was in those days before the crash, and then after. Both of them were determined never to buy stuff on credit if at all possible. If they didn't have the cash to buy something, they just did without it.
My grandparents too
The problem today is that the 'cash' has been progressively and seriously devalued: you put money away and you find later on that it buys nothing.
It's being said more and more that the 1929 Crash was deliberately set up by the Fed banks (which were and are private, not Government, banks) to wreck the country's economy for their advantage.
@@None-zc5vg Fed bank TODAY is not a Federal Entity, it's a private bank.
Hardly matters because the credit debt we have today, aside from housing loans are no collateral loans. If you default on your credit card it hardly matters. The credit they are referring to in this video are in regards to margin credit. That was the trigger that set the fall. (Margin Call)
Capitalism in entirely based on credit. Let’s go back to Feudalism then lol.
THOSE WHO DO NOT KNOW HISTORY
ARE DESTINED TO REPEAT IT
Edmund Burke
"There is no new thing under the sun"
- The Book of Wisdom - Sacred Scripture..
Praise be Jesus.. Ave Maria..
“Bitch lasagna”
- Pewdiepie
This is why I find TDump horrifying
Exactly why I'm scared; but I only echo what many experienced, prescient economists say. I just hope there are enough checks and rational humanitarian minds in power to limit the damage. @Just For Fun
@Just For Fun Tell that to Hillary Clinton to manipulated the DNC to get a nomination...
It's crazy to watch this and how similar times were related to the current situation 100 years later.
It's spooky that we are this stupid
Nothing compared to what Brandon is doing to us over the next 3 years...
It’s just history repeating...
@@jademelrose8765 So many of the safeguards put in place during the Depression to ensure the stability of the market have since been “deregulated” and we’re back to the 1800’s ten year cycles of boom/bust. Thank you, Saint Ronnie…../s
@@kandyaxelrod8797 Stupidity implies ignorance and innocent intentions. This was sheer greed and unfeeling malice disguised behind an air of generosity. America is a land of extremes; either things are going ungodly well or it's 1929 or 1973 or 1979 or 2008 all over again. They just like to find ways to fuck over the rest of the world in the process. The American cancer has only grown more powerful in 94 years until it's become a game of "follow the bellend" to the bottom rung of existence. Calling America anything other than a soul sucking leech or a cancer at this point is like calling Putin a friendly and nice hearted guy. Overly generous at best and either delusional or propaganda at worst. They're gonna drag us down with them but we have to follow the retards or the entire rest of the world will shun us.
My Great Great-grandfather lost his fortune. I'm told he was thrown out of his factory along with his management and employees. It's crazy tonight you sleep a rich man tommorow you wake up poor.
Man I need to shape up and quit taking my life for granted so lucky to be alive right now.
Life is very short my friend, learn how to enjoy the smallest things, and love all people.
@@RowdyEnt. even isis?
Yeah hit the gym Johnny boy
Same
My mother’s family were dirt poor, even in the 20s. So when the Depression hit, there wasn’t a great change in their lives. My father’s family, another story! They lost three of four houses, sold four of five vehicles, had to let go their cook and two maids and do it themselves. Mom's family moved out of Brooklyn to Long Island. Grandma took in washing, house cleaned, cleaned a doctor's office, cleaned the post office. The children did the laundry, picked up, washed, dried, delivered it, all with hand cranked wringer washers. By summer, they lived in an army tent, in winter, in the summer beach shanty of the people Grandma cleaned for. They had no running water or electric until 1938, by which time two of three children had left school for work. Then they moved to a summer cottage with electric.
Yaser Elwishahi It depends upon your attitude, whether you’re worried. The kids weren’t worried; it was simply the way they were used to, Mom, especially since it’s far better to be poor in the country where you can have a garden for produce, keep a few hens for eggs or eating if they quit laying. The playground was the woods leading down to a beautiful beach on Long Island Sound. The tent was camping and the beach house was theirs for the cold months. It had a coal/wood stove for heating and cooking. There was always some kind of soup, stew, and a kettle of hot water for tea. Tea might be from the grocery, but it was more often herbal, picked or grown nearby. Even in my fathers family, nobody bemoaned his fate. Grumbling or any type of “emoting” was something one simply did not do. It was counterproductive, and made you a “slacker,” --a lazy, good-for-nothing bum.” The welfare of the group always came before personal fulfillment. If you didn’t like something, you sucked it up and moved on. It was not until after WWII that one heard talk centered on “I, me, mine, myself.” Prior to WWII, if there was any emphasis on the individual, it was to meet one’s obligations towards others. Of course there were feelings, but these were a mere by-product, not the focus of one’s existence. Funny how The Greatest Generation gave rise to the Boomers, the most self-centered generation in history. Somehow, the willingness and value of to sacrifice self
:(
must had been TERRIBLE back then..
Wow. So interesting. Thank you for sharing.
Thank you for sharing. This needs to be taught in every school worldwide
My father was born in 1919 on a small self sustaining farm and because they always paid cash for everything they survived the depression ok. They had veggies, hogs, cows for milk and cheese as well as meat they had fruit trees and honey combs so, they did well. My mother was born in 1926 and my grandfather worked for the city of Detroit. His job was secure but as the depression went on mom and her sister spent school breaks and summers with her aunt and uncle on their farm coming back to the city for the school year with their father.
And here we go again!
Lol
Not even close. Today is self-inflicted, not a systemic problem.
yup due to corona virus
number 1 basher no, the virus just popped the overly inflated bubble
Rose Fincher Can you explain that in detail? How the “bankers” caused 1929?
Remember back in the good ol' days when it took four whole years to go from 4% unemployment to 25%, instead of just five weeks? Good times ...
😂😂😂😂🥴😖😒😣🥺☹️🤯🤌🏽
🙏🏽🕊❤️@Hoorna 🕊❤️🙏🏽
So sorry
One step at a time
🥺
Quit being dramatic. You're implying 2020 was worse than the great depression...
Let's go Brandon!
My great grandmother was a child when the great depression hit and would walk around at night when drunk men would leave the bars and they would drop their tickets by accident while intoxicated and she would pick them up and bring them home to her father so he could get shoes.its nice hearing and listening to her stories about her experiences during her time going through it. She's well and alive as of now.
Tell more about it
God bless her
how the... that's amazing that she's still alive.
Tickets? Tickets for what?
@@judeirwin2222 for shoes obviously from what she told me
Watching Mr.Howard Zinn discuss his shame about his memories of the depression and the effect it had on him and his family is heart-wrenching
Guys, this is my personal opinion. The great depression, 2008 crisis and the covid crisis teach us the need to save money, learn how to manage money , not spending more than we earn, not living in credit and always being prepared for difficult or worst situations. let God give the middle class and the poor, the strength to survive during these difficult times.
Just buy bitcoin and hang on. Maybe some gold if you aren't a believer in btc like me but bitcoin is the future
You’re right. Those who have cash saved will survive.
Sitting here in June 2021... it’s scary how easy it is to compare the times just before the Great Depression to how we view things today.
Terrific and a must watch. I saw so many parallels from more modern events.
"well somebody told us Wall Street fell, but we we're so poor that we couldn't tell" Alabama - song of the south!
panterafan 1223: Like there wasn't any good ole boys invested in the markets,horseshit!
@@quercus4730 Yeah the oil men !
@@quercus4730 Doubtful, people farmed just to get by & feed their families.
@@KP-vg3zn People farmed for profit just like today.
i had no idea what a dot com boom and bust was 😆..too poor to go bust
Great way for my daughter to see what she is reading about in school. Thanks!
what do u do?
School's are run by the government they aren't going to tell the whole truth and story and bank's are the worst place to put your money in they steal it with all the fees
this is probably my favourite documentary. and with 7 parts it's about 7 hours, wonderful
Where's the rest? I see only 2 parts here on this channel.
I just love history. America is just crazy. It has such great history in such a small amount of time. Think about it how long has China been a country and we are so young as a country yet we have accomplished so much. It is just crazy I love hearing about it.
That just speaks to how unstable of a country America is/was or how much pride it has in extolling any "from rock bottom" stories.
Barb, get to work on improving your vocabulary. Not everything is “crazy”.
I have wanted to see something on the Great Depression for years. Thank You for doing this.
You should read, or listen to Freedom From Fear. It's a great book about the depression era, and goes right up through the second world war.
my favorite Old Testament story is Joseph and the seven years of feast followed by seven years of famine
Very accurate....
I like the part about permanent famine.
my fav bible story is.... the talking donkey. theres a lot of shit in that book
You don't even know how you talk......yet you use your mouth to Mock God?
Did you create your own mouth? Do you see past death?
But God opposes the Proud.
God is an asshole
Thank you for sharing this video. I sat next to a charming lady on a plane last night who grew up during the great depression. Seeing this video really brings to life the amazing experiences she shared with me.
While watching this I couldn’t help but imagine a documentary 50 years from now, also talking about the “twenties”. It will be very very similar to this one. Except the footage will be in full HD and will feature even crazier clowns running governments, almost all else will be the same.
Probably not many of those LBGT and all those other stolen letters from the Alphabet parading around .
Just not as well dressed and less civilized
Let's just hope we vote for less silly clowns in our 30s. (German here...)
bold to assume that humans will still exist 50 years for now
if it is the same, we will not make it another 50 years lol
Hank's deep thought of the day: A great depression is easier for poor people; they were used to being poor before the depression started, so there's less to get used to. Please discuss.
Discuss? Are you kidding? The hair trigger need to be offended these days would sound too much like the wailing of Howard Zinn on what torture his life in the USA - which of course he never wanted to just leave for greener pastures - was, which it seems he never got over. I guess he either thought the rest of the World was utopia, or that the USA persecutes every nation and there's just no escaping the intense oppression of all those evil people who love freedom more than government handouts.
This is nothing new...Harry Truman said in 1946 ...the only thing new in the world is the history you haven't read yet..
Watching this again in 2022! And we are on our way to another Great Depression.
Yup
According to Joseph Stiglitz (Economics) "The crash was inevitable. It was just a matter of time, it was inevitable." Those words, in my opinion, ring true today; even more true today.
kodachromefilm Depressions are inevitable We have staved them off for 50 years but they will get us finely and getting out will be a problem. Our constitution says gold and silver is money, got any?
Sidney Boudro How are depressions inevertable ?
I say they are quite deliberate ( and therefore utterly avoidable) and where did the billions lost in the depression go ?????????????????????
Sergei Jakube Depressions are unavoidable when there is to much money printed. The next step is to print less which causes a depression. There is the other option is to keep on printing until the money is worth nothing this causes sky rocket inflation. Our politicians have never been able to walk the fine line between the two.
Given a host of wrongheaded actions, including a Fed that did not know what it was doing, the Depression was inevitable.
+Sergei Jakube Good question
this is one of the great historical documentary I've seen. really high quality content well made thoroughly put together
Here in Canada, Vancouver real estate over the last decade has experienced a major speculative boom with 45% of Vancouver homes now breaking 1 million and still climbing fast. Looks like a big fat bubble to me.
+rEdf196 Obese like I say...
+Remskii In the last year alone, the average detached home in Vancouver rose 20% in value. Its like a feeding frenzy with houses selling within weeks or days of going on the market with competing bidding wars, Its insane.
+rEdf196
Born and raised in Vancouver since 1964, I hate the god damn rents going up every effen year. My one bedroom on the west side near VGH where I was birthed is $200 to $300 more than on the east side, only about 10 blocks away for the same damn apartment, what's up with that!? I am so sick of the rents here not just the prices to buy a home. People are paying half or more of the pay on rent these days, this has to stop some how.
+Al Uma Naughty There are an awful lot of high flying global investors with deep pockets from China, US, Europe, ect They snap up properties then flip a year or 2 later make a couple hundred thousand in profit. I have heard lots of stories of unoccupied homes going through multiple offshore owners. old homes getting demolished to build monster mansions. and pricey rent apartments too. My ant and uncle bought property in New West Minster in 1962 for $25000 today its worth $1.3 mil double what it was just 5 years ago They hate all the growing yearly taxes they have to pay. I am sure many apartment owners are feeling the pinch too. reflecting in the growing rent fees.
rEdf196
I know, it sucks, eh? it makes me sick, profit before people will be the down fall of nations, it has been so in the past but people tend to only remember from the time of their births or a decade or so before.
instead of bankers jumping out windows,we need to throw them out windows.(Goldman Sachs,Bank of America,Chase,etc)
Those banks are not the big problem the fed is
@@BrockJamesStory You do not know it was likes of Morgan and Chase that created the Fed. for their benefit ? And Gold Sachs, Bank of America are just new fronts like they were for British money to own America again through great deception ?
the real problem is interest and people spending money they dont have. the market is a place for wolves ready to feed of people. with no interest theres no unsustainable debt, its a system thats destined to fail over and over. its fantastic for the banks, making such incredible profit so easily and the corporations love people buying and buying their products. whos going to suffer in the end the common person whos not a millionaire/billionaire
Michigan Accountability Network They are the Fed!
Actually we the people are those who are not disciplined they just take advantage of it we are one wants everything now pay later with interest
Now people have tickertapes in their phones and credit cards in their pockets. Sounds familiar.
Buy now pay later sounds familiar credit card today people buys consumer goods they can't afford.
in 2008 crash, loan defaults of all kinds put together comprised less than 3% of the total losses, the rest was the derivatives bubble blown by the 1% ... and then we made them whole by printing up $12 Trillion and putting it in the hands of the bank shareholders = the 1%
That's why its going to crash it's Inevitable and on top of that there's more debt money around then real money Bills in circulation so how to back up iou Bills with too little real paper bills to service that huge debt?
@@mookins45 indeed
both in 2008 and back in the Great Depression, it was bubble-speculation, not loan defaults, that caused the economic collapse
@@SirRocalot With American land and people who were signed over at birth for value of their lifetime labor through Corporation Capitol letters on their Birth Certificates, D.L."s and Social Security cards. Only Corporations use all capitol letters to show their incorporated. Why do you think the Elite are grabbing as much money as they can get their hands on and put in out of Country banks/realestate in knowing it cannot last forever when you bail out the ones who caused the problem again and again.
My nan and pop have great stories from the depression here in Australia. Makes you realise how lucky we are in the current state of the world economy.
It's no wonder we come here to watch this in 2021. With the pandemic, and things that we are experiencing in the now.
Never buy margin stocks. It's basically gambling and 75% of people lose.
Rob Basque sorry for your lost of investment scam
Rob Basque more deliberation next time before making a choice especially if involves money
You get it. It wasn’t the fact that people were buying stocks. It was people buying stocks on margin. Once the market crashes, the brokers make margin calls and the investor can’t fulfill it, the investor loses their shares and their original deposit. If a person invest with expendable income, even if the market tanks, they still have their shares and can just wait it out until the market picks back up again.
So you’re saying there’s a chance
Whats margin stocks
those who fail to know history are doomed to repeat it.
I'm here watching this because of the crazy house market. Anyone wanting to buy a house now, just wait a little, it will level out.
How’s that going
@@adriantrejo6696 it’s on its way down now
@@mynameisfrank6519 not here in florida
Watching this as I desperately wanna get out of the family farm,
mybe staying the farm might be a good thing.
God Bless farmers , for feeding the world .
Stay in at all cost. Depression heading our way 😉
It is good to stay with the farm...once it's gone there is no replacing it.
Owning land will be the best way to weather what might come as a result of the crazy, damaging policies set in place by a certain old, confused man and his cronies in the past nine months.
What kind of farming do you do?
It is so easy for us to make the same mistake again, when greed takes over, being not happy with what we have. " For the love of money"... and i think we know the rest. I feel another one is just around the corner, recession, that is.
All four of my grandparents, both parents and their siblings grew up in the Depression. I never knew my dad's dad or mom's mom. But I do know my dad's mom showed how she was affected as she got older. She never threw anything away if someone could use or fix it and used to go dumpster diving. So sad to see how people only looked at the profit, but not the loss.
My dad had 4 fridges and freezers and we were only 4 people on the house. He just never wanted to be short of food. It was difficult for me to understand, as he grew up on a big farm and they had pleny of everything. But the depression made an huge impression on people.
@@barbarawright5774 It sure did. It was a time of institutionally driven anorexia. Once you’ve literally starved for a protracted period of time, you never view food the same way again.
"It's a racket...those stock market guys (speculators) are crooks" - Al Capone
Real ironic coming from the actual crook lol.
@Ferdinand van der wijk so, you’re saying... just let me try to understand this.. that Capone WASNT a crook, because everyone knew he was a crook?
@Ferdinand van der wijk Capone wasn’t any better than Nixon lol.
@@blakerich5804 The point is a crook knows and recognizes crooks.
Wall St. is nothing but a massive scam for the wealthy gambling away the working class's efforts and hard work.
They get bailed out, working class rarely does.
@@AdmiralBison you have no idea what you’re talking about lol
I' dress up and look for work as well. Any decent man would do this regardless of whether or not you told your family you did or didn't have a job. Its one step in front of the other.
I assume the impact became so devastating was instead of actively seeking employment and earning wages they were deceiving coercing themselves and families. Running Every morning over to "Wall Street " insider trading " one can only imagine the empty stomachs thirst and dehydration, the poverty level rippled throughout the socioeconomic global economies.
Nothing complicated about the great depression, it was a national poker game. They wanted to enrich themselves by gambling on the market; anted up, bet and lost. Many saw the writing on the wall, rushed to withdraw their money from the banks and many of the banks also folded. Our family was poor in 1929 because my father could not find work and my mother would pick dandelions to make soup for us tots. Father finally got a job as ship's engineer taking coal across Lake Eire until a storm sank the ship and he drowned. My mother then took us three brothers ages 6 months, 1 yr and 3 yrs back to England where she came from. That's life...no complaints.
So you're around 90 years old now & using TH-cam.
@@KP-vg3zn My grandmother was born in 1929 and she is completely cognitive, active, lively, and yes she knows how to use the internet. I am young but your comment is disgraceful, rude, and disgusting. But I am sure it is a direct reflection on how you were raised so I do not blame you.
@@gmailplaystore1152 well hell, your very old yourself beautiful young lady;)
Everybody was in on the scheme, except poor people.
Wow..I'm so fascinated with American History told by the people who actually have first hand experience. When people actually worked towards and demanded their piece of the American pie .
Now is March 2020,history always repeat itself and men never learn.
Lily Le ..I believe that we are in for ' tough times '. Keep your money for essentials like paying bills and buying food.
I have the feeling this is closer and closer to happening again but this time it will be a total catastrophe.
I have a feeling you haven't noticed it already has.
@@Hollylivengood yeah....
get ur stuff out of a bank. seriously
Silver and Crypto.
But nothing will prevent the imminent collapse of the environment, and our subsequent extinction.
@@Nonconceptuality Gold Yes, Silver Maybe Crypto Fuck off!!
Wow. Hoover's response to the crash sounds vaguely familiar. "Everything's fine, nothing to worry about".
In the end, his response may have been smarter than Roosevelt’s. There’s significant data today to indicate that FDR’s New Deal actually prolonged the Great Depression for years longer than it otherwise would have lasted. In the end, it was WWII and the resulting expansion the manufacturing base that saved the economy. In addition, it was Roosevelt who set us on the path to becoming a debtor nation and destroyed federalism, two issues that remain problems for us today, especially in connection with the Wuhan Virus.
Linda
What would you have a president say.
"Everyone we're all in a world of shit"???
Everyone freak out , panic, run, hide.
Seriously don't be naive Linda
Yes Linda the government as we can see by this video been lying for years All we can do is learn and prepare for the dark times ahead.
Douglas young l fail to see how one being observant makes one naive..
@@awake6472
I would ask you the same question then.
What you expect ANY President to say??
As the late, great Sir James Goldsmith said, "As soon as you see a bandwagon, it's too late to get onboard".
John von Horn Never heard this but love it.
Whereas Jimmy 'The Bastard' had people make the wheels for it.
I missed the computer boom, I missed the bitcoin boom and I missed whatever boom this virus has caused.
@@LisaMaryificationyou are gonna lose the gold boom as well.
@@LisaMaryification Bitcoin not done yet. N watch for augmented reality boom, aka: the next step in the evolution of the internet/smartphone.
This is exactly whats going on today.
Exactly~!!!
Omg yes !
I would say much more so today. RSI is at levels not seen since late 1999.
Still??
@@andrecurry6294 have u seen what's going on with the stock market lol its about to crack
April 18, 2020---Dad & Mom grew up during the Depression and I listened to their stories. Which is why when food was flying off the shelf, I wasn't worried. And no doubt, the same people who went to hoarding tp, etc. won't of learned their lesson.
I was given shares in my company for my 401K plan. I wasn't told I could trade those shares or do anything really with my 401K. I was told that was all handled by the investment companies handling the accounts. My shares increased 10 times what they were when we were up for purchase. I didn't know to sell then, when the stock was at it's highest. The next day the stock plummeted because the deal was over. In other words, I didn't know what the hell I was doing in the stock market. I lost about 100K because of this.
Could we talk about that ?
Buying anything on credit or pawning items or payday loans is the same as buying on margin
I distinctly remember in history class in grade school and the teacher proclaiming that the federal reserve(lower case intentional) was instated to prevent things like the depression from happening. The stock market crashed in 1929 and the fraudulent reserve was instated in.......1913. I wish I could see that teacher now because I have many questions about her claim I would love to ask her.
Mar 14 2008 Wall Street Bear Stearn . Too big to fail 2007 to 2010
26 trillion to banks and company’s and QE for years
@@mikerice5298 And in recent history, we can trace that right back to St. Ronnie of voodoo “trickle down” economics and the rampant “deregulation” of all the safe guards that were put into place to ensure the Crash/Depression wouldn’t happen again. Destroying the power of collective bargaining starting with the Air Traffic Controllers resulted in the gutting of the blue collar working class. I’m really pleased to observe the recent rise of worker discontent and now, the word “union” is starting to loose the negative connotation the government tarred and feathered them with. Many people DIED for the right to collectively bargain in the early 1900’s. How quickly we forget……
And here we are in 2022, just about to repeat history!
Come think about it,that generation was pretty resilient，after all the despair，sense of helpless and humiliation，they could still rise above from it.Watching the historian talking about feel the shame of his reaction of his father‘s job，almost brought me to tears.Nowadays kids with much minor problems needed therapy，and it may still scare them for life.
"It (the stock market) sort of cut loose from its moorings by which I mean, instead of being based on real values of the underlying companies, it was a speculators market in which people bought and sold stock thinking that if they bought it now, they could sell it later for more money."
Anyone else seeing some clear similarities to this 2020 situation!?!?
No, completely different..... intended sarcasm
It’s scary how they’re describing the stock market right before the Great Depression and it sounds exactly like the stock prices of Q3-4 2021
Oct 29 2022 .... next crash ? Lol
It's no one's fault, just a manifestation of human nature
All of the things said about the stock market in the 20's on this documentary can be said about TODAY's stock market!
Believe it or not, we are living through the same period again.
I 100% agree
100x worse now. Open borders,no manufacturing and way way more deadly enemies
@@tonymoretti2347 + virus , agenda 21 coming along nicely ...
@L D bring down the cabal by all standing up against it , together we are strong & can beat them , one thing for sure is to never let the story of " the man who didn't kill himself " fade away , these scumbag pedo elites are the ones who are killing us , don't know if your up on what been revealed about Dr death FAUCI & hows hes been connected to the wuhan lab & but what they have in store for us is evil , this is nothing tho compared to what is planned for us next winter .. everyone , please , its our time now to rise & stand up together against these vile elites ...
@L D We can't stop it, but we can get off by holding some gold (10% of your portfolio is prudent).
This video never gets old..
Oh my god. I was here from our 10th grade history chapter. It’s intriguing how almost every comment narrates their real life ancestral stories.
I binge watched this whole series....A most excellent series
Where do I find the remaining episodes?
The "Tulip bubble" of 1637...
Yep.
"People at the top were enjoying prosperity, most were not"...sound familiar?
History doesn't repeat itself, but it does rhyme.
Income inequality.
Let's look at the real picture, you're bitching on social media.... And there are countries with hardly any electricity. Socialist countries.
@@kameyeam Which ones?
@@RenzoM2811 right now, Texas
Churchill was not there by chance. He was Chancellor Of The Exchequer at that time for Britain (The US equivalent of the Treasury Secretary). He was taken there by the head of the Bank Of England because they were about to show him how they (along with the FED) were going to get back all the gold that they had to give to America from its World War 1 loans. By suddenly withholding any more loans for stock purchases and calling on all margin loans to be paid immediately, they forced the massive sell off and crash. Some of the banking cartel's associates were told in August '29 to get out of the stock market as quietly as possible. Churchill was just there as an observer and had no say in the matter.
jacktheripoff1888 Churchill actually lost a fortune of the stick market... He had invested heavily....But I guess he learnt his lesson!
too much money out and not enough back and people panicked due to an earlier problem and experience and memory of that rush so confidence dropped rapidly
to people of the future: this is eerily similar to 2020 coronavirus crash. we're currently about 3-4 months in. is this some sort of unavoidable cycle? creeps me out.
It's worse now.
@@WiCapitalco way worst
2020: Depression 2.0
2021*
@@loda2156 yes
"The things that will destroy America are peace at any price, prosperity at any cost, safety first instead of duty first, the love of soft living, and the get-rich-quick theory of life." ~Pres. Theodore Roosevelt
Coronavirus worries brought me here... 17 march 2020.
Happy St Paddy's day everyone!
caveymoley ughhh same
Me too 🤷🏻♀️
The global depression was caused by uk and Germany not being able to pay their war debts in 1929 not because some farmer made poor life choices
You are rich when you don't need money. After decades of frugal living and not servicing debt we get a shock every few months when we analyze the accounts and see how much has accumulated. Because money doesn't hold value we keep investing in land, building, and businesses that do.
Our grandparents owned land, grew food, and had cellars full of food. There was never a last minute trip to a store to buy a few items. If they needed a doctor they traded food and other services. It may come to that again.
My mother, born in 1927, said she remembered fishing a half-eaten apple out of the garbage can behind her apartment building in Jersey City, NJ during the Depression. They were so poor, they took food when they could.
History is currently repeating itself. May God help us.
Interesting how similar times have become to then. Stock market booming Electric cars booming. Looks like a Great Depression is among our time period.
good. Time for capitalism to die finally
I remember my father, who had worked for .25 a day crying like a baby when Roosevelt died. Him and fifty million other men . Contrary to current opinion, we are definitely all in this together and dependent on one anothers actions.
One another’s actions.
We are better now, if there are market crash , people will be panic , but not on the street, but in social media, it will become twitter trending,facebook trending ,tiktok and else
My grandmother grew up during the Great Depression. She saved Mercury dimes and buried jars of peaches in the back yard as a result.
Poor lady. She was left feeling insecure. Can you blame her?
@@louisianagrandma9787 you missed the entire lesson.
@@ocanadastandinguard6840 Please explain.
Why bury peaches ?
15:07 'At some point, this process started to disconnect from the real economy.' This was true in 1929 and is true again in 2020.
1929 depression is one deep rabbit-hole.
Sounds exactly what’s going on right now. Even it the cryptocurrency market with people getting into crypto they don’t understand(small cap altcoins)
Watching in MARCH 2020
(30 DAY ISOLATION) Day 1..
March 29th 2020
April 12th, 2020
April 22, 2020
March 3
May 3, 2020
For those like me who want to just get into where things starting going bad, 15:20 is a good place to start
Lmao thanks
It sounds awfully similar today, "Economy is sound.", "Those people(unemployed) are lazy.." etc.
Sometimes, history repeats itself. But only when it comes to excuses.
TOFKAS01 says:
"Sometimes, history repeats itself. But only when it comes to excuses."
==
History repeats when you don't learn from it.
***** says:
"The vast majority of young people today that I meet have absolutely no interest in history,"
==
If the majority of people had a habit of learning mistakes and successes from the past, there will be no such thing as Tea Party.
***** says:
"War On Drugs, its al bullshit"
==
I would add on top that, "Gun craze", "anti-Immigrants", "anti-government", "free market worship".
Whether you like to admit it or not, they were in common place in 1920s-30s.
allgoo19 Why do you need to have a job and why ( for most people) must it be full time ???????????????
And where did the billions lost in the depression go ????????????????????
I look forward to your answer, Elvis
History does seem to repeat itself.
History can't repeat.
Pat Melton ...
B
altimore Patriot H huh hhhhhhm. Hhhhhhh. H h h. H, hhh. H. Hi m hhh hhhh.
_"the thing is people never learn from history and are doomed to repeat it"_
That's not the issue. Muricans KNOW about their history. They just build a huge military in order to stay credit-worthy. The USA is the country with the biggest debt by far... why do you think it's still not bancrupt? Because they take what they want. They steal and rob everyone with no significant consequences. The USA is the cancer of this planet.
Just like life. When someone is losing their life, someone else is giving life in the same hospital.
1st lesson in hunger games society. When this virus thing is over after all the govt borrowing history will repeat itself.
My neighbor lived through the Great Depression. He was out of work, saw a construction crew laying a foundation, and joined them. After a couple of weeks, the boss asked him what he was doing there. He said he worked there, and the boss put him on the payroll.
I'm going to have to call this stories bluff
The stock market was compared to a casino and many of the top speculators used the naivete of the average consumer to swindle them and make money. Reminds me of a relevant quote: "If you're in a poker game and don't know who the mark is it's you."
I like how people pretend that we fixed all the problems which caused the crash. Most are still present...only a matter of time.
That's coz you can't fix human nature, greed & STUPIDITY.
You can't fix the free market. People are free and use their best judgement to proceed with their financial decisions. Uneducated people make uneducated decisions. US really lacks in quality education and common sense for the majority of people. Other than that you can literally speculate a market crash at any moment. Literally any moment. That means nothing. A market crash is not a bad thing. You can make money from or during or after a crash, depending on your investment style and your financial approach. Also a crash ensures the market reflects the real prices of things. In essence anything that goes up can and should go down. The main issue with great depression is the combination of politicians being ignorant and looking after themselves (always the case), people making decisions that had little to no understanding (honestly their fault). The only thing that could improve this would be to introduce financial courses in school and to have certain barriers on who can invest and how much, which would prevent many parties from making money so i don't think it would ever happen. I'm not even sure it should.
Since then the gov has implemented various socialist programs, apparently including a financial backing system that can postpone a crash for much longer, but with a greater power grab once they have to do it. Back then was a simple plundering of the people's money, but they have something much bigger in store next time around - a total switch to a more controllable financial system, and a new world power center, including caps on population and limitations on their way of life.
@@jameseverett4976 Fascism
Hat makers must of had an incredible hedge during all of this...
Very true!
We’re going to have the greatest depression here with everything going down in their 2020 economic collapse.
Not only should you not buy on credit, you also need to diversify your assets. Stocks are cool, but you have to have other assets like bonds, precious metals, real estate, etc. to prevent stock market crashes from ruining you.
"People would feel foolish.. not to participate.." that's human nature right there
So I'm the only person who noticed at 10 minutes in that they used a newspaper called "The Onion"? THE Onion.
I just left a comment on that!!!
Yes the onion
I remember one time in New York city i asked a guy where is Onion bank ?
he replied : in carrot street !
Well...the whole thing kind of reeked of that mentality.
History is repeating itself,
We will experience a depression like never before.
Inflation, high gas, high food,
That's is a very scary signs.
Cryptocurrency market had a crazy boom for two years followed by this current beer market. This is obviously history repeating itself as the elites control every material in this world. Luckily for the poor they and I myself have nothing to lose since the only way we have to go is up. It’s times like these were opportunists take advantage to make money. Matthew 5:3
Look at the SWITCHBOARD operators ...
Theyre on SKATES!!!!
People really do figure things out.
& probably a GREAT WORKOUT too.
The seed of greed grows a garden of dead flowers.
Key word he said was panic at times like this key is not to allow emotion or panic as Rockefeller said buy when others don’t want them sell when all others crazy buy
mY PAPPY WAS BORN IN 1919....i REMEMBER HIM TALKING ABOUT THE DEPRESSION...HE HAD LEFT THE FARM....
Pump and dump started back in 1929. Holy shit! And it’s happening again, today.
Yup .. prepare your family best you can ..
why don't they send individual social security numbers monthly "stimulus " checks forever so they don't have to keep bailing out the "big" money
👍👍👍💕 thank you‼️
Very understandable and explained simply and visually on many levels. Thank you, for your time and effort and bringing this to us.
Here because of Corona. Trying to determine what to expect for the future and to somehow get a grasp of what type of life to lead going forward
Self sustainability. At least as much as possible. Owning land, building your own house, making a garden, maybe even animals if you can afford it...
Pretty much trying to save as much as possible that when the opportunity presents itself, you can take it.