The Great Depression Explained
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- เผยแพร่เมื่อ 7 มิ.ย. 2024
- The Great Depression across the globe, Explained
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SOURCES:
Great Depression summaries:
- www.britannica.com/event/Grea...
- www.pbs.org/wgbh/americanexpe...
- www.investopedia.com/terms/g/...
The United Stated of America and the Great Depression:
www.britannica.com/event/Grea...
www.encyclopedia.com/history/...
herb.ashp.cuny.edu/items/show...
www.statista.com/statistics/1...
Latin America and the Great Depression:
www.encyclopedia.com/economic...
www.econstor.eu/bitstream/104...
www.researchgate.net/publicat...
www.econlib.org/library/Colum...
Europe during the Great Depression:
www.encyclopedia.com/economic...
eh.net/book_reviews/the-great...
www.britannica.com/place/Balk...
Africa and the Great Depression:
www.encyclopedia.com/economic...
omniatlas.com/maps/sub-sahara... (The best source I could find on Liberia… but all sources say the exact same thing. So I chose to trust this information)
Map of Africa 1928-1929 (very pretty)
www.arthur-conan-doyle.com/im...
Asia and the Great Depression:
www.sup.org/books/extra/?id=2...
www.encyclopedia.com/economic...
muse.jhu.edu/article/482884/pdf
eastasianbusinesshistory.word...
www.sup.org/books/extra/?id=2...
Other colonies and the Great Depression:
www.nma.gov.au/defining-momen...
sites.tepapa.govt.nz/sliceofhe...
www.encyclopedia.com/economic...
Japan and the Great Depression:
www.boj.or.jp/en/research/wps...
eh.net/eha/wp-content/uploads...
Explanation of dividends:
www.londonstockexchange.com/t...
What African towns looked like during the Great Depression:
• Cape Town, 1930's - Fi...
Other sources:
www.economist.com/free-exchan...
www.macrotrends.net/1470/hist...
www.macrotrends.net/1319/dow-...
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This month's champion of self promotion: Avery, from History Scope.
at Judit Kovacs - hopefully the next great economic crisis - recession /depression does not get me
@@TheNecropolis20 i
@@TheNecropolis20 are you still hodling?
You have the best understanding accent... ever
Switzerland had free trade?
“When people hit their lowest point, they are open to the greatest change.”
Prophetic words.
Avatar🤣🤣🤣🤣🤣
Don’t worry, mows the time to buy just what you need and save the rest, we will see this again, and that will be the end of this country as we know it.
For better or for worse
@@alanmeyers3957 ⁰⁰0ĺĺ Ll
In Recovery we call it our “rock bottom moment “
*The Big Sad*
Omfg bruuuh
The Colossal Blues
The Tremendous Despair
@@Jay-qb9gi The Overwhelming Malaise
The huge boo-hoo
6:53 “as banks went rupt”
Hearing it made me chuckle.
I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 last nov. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the invt-adviser you're using?
I thoroughly recommend Julie Anne Hoover, an investment advisor who is subject to US SEC regulation. She has assisted me with my portfolio for many years. Look her up online; she's a well-known figure.
Thank you. I just checked her out on the web browser, She seems really proficient. I'll follow up with an email. Thanks for the lead.
Argentina every other decade: Crisis? What Crisis? There is no Crisis in Ba Sing Se
Kevinglas, the Earth King has invited you to Lake Laogai
You know, you killed it bro, because it applies for all the Hispanic America 🤣🤣🤣
@@AndresGomez-ws3fx exactly. Glad you left Brazil out of the comment 🤣
@@cesarrsouza yes, we all know corruption and crisis are two words unsuited for Brazil
One bank in America in 2008: *LEMME GIVE YOU AN EXAMPLE*
Lolll
Woops the economy crashed (again)
BofA launders most of the cartel money
"The Great Depression Explained"= *furiously takes notes*
I’m watching this during history about The Great Depression
Who else is here before this happens again in 2024
U and everyone else should all pull ur money out of the banks at the same time to avoid the consequences.
Weird finally getting a great depression video/documentary that isn't just the US / rise of moustache man
Finding data on the rest of the world was actually quite hard in the beginning. The Euro-centric and America-centric sources were plentifull and well-analysed while the rest of the world was just kinda forgotten...
In fact, for many years people assumed that Asia and Africa were fine because the governments still had enough money (which was used as an indicator of the economy at the time)... while completely ignoring the average people. This was really sad so I wanted to do better than that. Hope you enjoyed listening to the issues of Asia/Africa/Latin America
Right, I am trying to learn more and I am like "was it just America or what?"
@Exocentric No, it just that most source are from their perspective.
Foreal doe
Exocentric ironic you don’t understand how you’re perpetuating that stereotype
History Scope: talks about a recession
Me in 2020: *cries*
@Ronald6Wilson6Reagan6 Lol, because Socialists always make their nations better. Like Venezuela, or the USSR, Cuba, PRC and so forth.
@EmperorJuliusCaesar Are you also ticking all the bad decisions being listed in the video because they are being made all over again (not only in the USA)?
@@gruntdetonators The unprecedented rate of growth the USSR experienced under socialism was faster than any society had seen up until then, and was only matched by the even faster expansion of China... Venezuela ranks higher than the USA currently, and Cuba was a plantation, so yeah, they've improved.
@@gruntdetonators an insolent! China will always thrive!
Not a good felling knowing your the new "lost generation"
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
As you plan your retirement, be sure to
talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@BrunoLuke Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@harrisonjamie794 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@harrisonjamie794
Thank you so much! Found her webpage and left a message. Hopefully, she responds.
glad i was born in 63 i had the best yrs of my life 70 80 90s after 2010 everythings gone down the drain 2023 be 60 this yr and im really glad im getting old cause im starting to not care anymore my spirit is going down lookin at the world today
We are the same age
I find the use of slave labour in Liberia pretty ironic as the country was founded by freed slaves, the freed slaves emerging as a privileged ruling elite is pretty interesting too.
Animal Farm.
Keep in mind Europeans didnt invent the african slave trade, they just subverted it. Slavery was super prevelant there before Europeans got involved and the last countries to ban it were mostly african ones.
@@arthas640 Slavery was a moral necessity since ancient times
But Trans atlantic slavery specifically in recent centuries was quite unusual even for slavery standards. The reason why historians tend to focus on that even when Africans, Arabs, or Berbers enslaved people from Africa for like 1000+ years is because the economic effects were a whole different league.
200
@@themercifulguard3971 No, it's just a western focus. The impact in other areas is not discussed as it is not of importance to the west especially the US who believe their history and culture reflects the entire globe which is totally absurd.
"4 Degrees in Business and Economics"
And you make TH-cam videos...I'm disturbed by the implications that carries.
I love these videos, though.
Finding a job wasn't easy for me. TH-cam was my plan C
@@HistoryScope Hey HC do you plan on ever making a video on USSR economics and the growth from 1917 to 1991 ?
@@flavioardizio7242 Nope. I cover topics which everybody knows happened but most people don't know a lot of details. So I won't go indepth on such specific parts of history.
If you want a good video on the USSR's economy I suggest watching Economics Explained. His videos are amazing! Especially the one on the USSR!!
@@HistoryScope ok thank you still very much :)
The USA git off the gold standard several times and then went back on it again. This isn't "changing dates". This is "doing the same policy multiple times".
Uitstekende video. De extra beelden maakt het nog makkelijker om 'in de tijd' te komen.
Aan de aantallen te zien ben je lekker bezig.
Amazing video, loved every minute of it. Keep up the good work, mate!
What keeps me coming back to this video to watch and learn instead of running it as background noise is the simple excitement and passion you show with each fact that you present.10/10 would recommend
Lies again? Grab Drinks Google Drive
"While countries like Japan and the USA were building themselves up, Europe spent 4 years blowing itself up"
By far the best line in the entire video. I laughed...HARD!
I feel that is the reverse right now
@@eldermoose7938 It seems that whatever country has the money tends to like to use it to build empires. Japan tried and ultimately failed in the 1940s. The American neo-feudal global corporate capitalist empire will fail at some point too.
@@BTsMusicChannel naw that was a different time
$TRAIGHT UP
not true in the second world war two though
Well done! Complete, easy to follow (for such a complex topic) with very helpful graphics. Thanks!
So much hard work on this video! Really well done 👍 🙏
I was going to complain about the lack of antarctica, but you just barely put it in :-)
I actually did do extra research into Antarctica. When I said Antarctica was "totally fine" I actually meant it. There wasn't a decrease in expeditions or fewer research stations being set up.
I thought it would be cool to talk about how a recession reduces spending on research by using Antarctica as an example... but I couldn't find any evidence that Antarctica 'economy' (if you can call it that) suffered because of the Great Depression. It would have been fun to talk more about it, but alas, there was nothing of note happening in terms of the Great Depression in Antarctica at the time.
Wasn’t a whaling station in Antarctica abandoned due to the Great Depression?
At about the 3 minute mark you said, "Suddenly the values of these shares dropped..." Can you explain what caused this drop? This seems to be the most important part of the story...but there is a gap here.
Likely a natural slowdown in the business cycle. For example, if almost every family in the US owned a home in the late 1920s, then companies involved in building a house (construction companies, household appliance manufacturers, interior designers, cement/lumber suppliers, etc) would experience a slowdown in sales, which results in lower profits. They're still making money, just not as rapidly as before. Suddenly investors aren't as attracted to the shares of these companies and now everyone's thinking, "if profits decline then the share price will decline too, I better sell these shares while they're still high" and true enough the share price tanks as every investor heads for the exit. Now imagine this happening to several different companies in multiple industries.
Plus, same as today the bigs will sell at the same time. Once, twice, three times. Insider trading.
more sellers than buyers
Endemic corruption was rife. The Hoover government sat on its hands and did nothing about corruption, which finally caused a massive collapse.
Laws and safeguards were put in place to prevent many suspect practices.
Reagan in his wisdom, followed by the Bushs, undid many of these safeguards.
"Too much red tape," the fools waffled.
Unscupulous people seized on this, and we had the World Financial Crisis.
History repeats, as the rise of ultra right wing lunacy shows us.
Another war?
Margin calls forced the selling of stocks, driving prices lower as the distressed assets failed to catch a bid.
as a mathematically challenged person, i approve this video.
This was immensely informative and enlightening. You just got yourself a new subscriber.
Ive been waiting for this to come out and I'm glad it's here. Great video once again, can't wait for the next one!!
The Imperium Entrance theme was a truly amazing touch... really shows that your work is sacred. love the channel
Thanks. This was so easy to understand. And I must give kudos to you for making your voice much louder than the background music.
Perfect video.
Wonderful content! Congratulations! Thanks for doing such important historical research material.
The fact that this is free is stunning and awesome. Love your work, keep it on ;)
"As banks went rupt"
Heeheee...perhaps he's Romanian, where it is often used for 'torn' or 'broken'. We presume he meant 'broke'. Love how language evolves.
@Dave you probably know this but he is Dutch
@@daveyinparis1 I'm thinking he was being punny
@@jkfozul2316 Of course. That's a thought. However, it would work with an unmarked accent and the emphasis on 'rupt'. However, with his heavy accent it sounded like a mistake. Now that I realise he is Dutch, the word 'rupts' is in that language too so he might have presumed that it translated to English. All very interesting.
I am very happy to have found your chanel. This is how things are to be explained. All thumbs up!
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
@@marianparker7502 I agree with you. I ventured into stock with less than $100,000, and now I'm about 17,000 short of half a million dollars. Credits to Nicole Ann Sabin . She's verifiable.
@@Robertgriffinne Thank you! i just looked her up and sent a message hoping she gets back to me.
@@Robertgriffinne I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS
This is a scam
@@spongeboimebobbb it sure is. Nicole Ann Sabin cannot be trusted. She threw my dog into a woodchipper.
Amazing explanation as always! I also encourage more economic analysis in future videos!
I loved the economic and sociopolitical aspects being brought together for the bulk of the video. Especially for Africa, Asia and Latin America, which all too often get barely mentioned (if at all) within anglophone countries' education
I guess my only new comment is asking if more frequent videos of this quality of clarity and research can become a new gold standard, if you will
2020 be like
The Great Depression 2: Electric Boogaloo
Bois....we have a Hermit Craft fan.
@@prohz9129 OMG get out of my head 🤣
A guy: (sneezes)
Everyone: React like confronting a suicide bomber.
hi
Wow, Mr. Scope, that was outstanding! Such a full breakdown of the depression and bang on the money as far as accuracy, from my knowledge of those days before me, but that my parents saw Lot of changes, and that silly genius Keynes set the protocol....and it works. Remarkable. Thanks!
cheers
Thank you so much for the global view of this time frame. I've looked and looked for info on the effects of the Depression globally and can't find much info.
Fantastic explanation, this video both entertained me and educated me, it's not easy to address complicated issues simply, many thanks
This is possibly the best explanation I have ever seen, thansk so much
Phenomenal video. One of the best I’ve seen on this topic. Subscribed. Thank you 🙏
Yo, thanks for showing me just how global this crash was. I remember trying to find this out in middle school social studies waaay back when, but no one around me knew.
Also great song choices and timing, btw. Sound design is super underappreciated
Thanks for making such a long video in such a short amount of time!
It took me 2 months. That's way too long. Next video will hopefully be faster and shorter (unless people vote for African decolonisation... I see now way how I can make that a shorter video)
20:50 I can see you're a man of culture.
love it
Live fast and prosper!
They should teach the rules of acquisition in business class.
So basically most economic crashes are caused by banks funding bad loans.
Great depression
2008
2023
Great. When are we going to regulate them
Bad treasury for 2023
This is a nice documentary. I am now subscribed
Let's go! History scope time. Great content
This was a great video on the ironically called Great Depression. This was very informative. Thank you for your teaching.
Love the complete overview!!
Thanks for covering the topic with simplicity and attention to detail at the same time, especially since we leaving in times that something similar will happen
This won’t happen talent is beginning to swell up and innovation will stay strong
Every visit at the therapist is "the great depression explained"
Many thanks for a brilliant video!
What a great channel to understand history of trade, business and so many other things..
Thank you! This really cleared it up for me!
Most countries: nooo we lost our jobs and now our people are starbing :(
The USSR: Wait weren't we supposed to normaly starve?
That actually sums it up perfectly!
North Korea now.
the extreme droughts were a big problem ...
the zars ususally didnt care for the well being of the people they treated like slaves. thats why these poor oppressed farmers and workers over threw the monarchy to establish a system that works for the people.
still there were these droughts, and only by forcing the church to give parts of its hoarded wealth to the starving people brought a solution!!!
these rich clericals and nobles did EVERYTHING to keep their extreme riches and let their fellow men starve! just fyi ;)
@@VivienneShakur Then Uncle Lenin reinstitute serfdom under the name of Kolkhoz and wage war against workers and peasants! Happy End!
couldnt be furthest from the truth. in fact we were doing quite fine while the rest of the world starved
18:34
I think that you are missing the point.
I think that the cotton didn't get more competitive (in $) because the currency became less valuable, it was because the currency *was being* devalued at that moment, and thus people were willing to accept a lower payment of a stable currency rather than a full payment of a currency of decaying value.
You're correct about that. But this video is for the people who didn't study economics.
There are A LOT of factors I left out or simplified. This is one of them. People who know more about economics can easily fill in the blanks (like you just did) while those who don't know a lot about economics can still get the basic principals without getting an information overload
Very well made video, and good explanation.
Thanks for the share History scope
Excellent Video! 👍 Keep the videos coming. [subscribed]
Thank you for giving me quality content to watch! :)
Great video! And exquisite taste in music
Thanks for an interesting video and for excellent music!!!
I feel like I am gonna need to know more about the great depression and other downturns for the next couple years to come 😂 great video, thank you!
The fact that it was even legal to go off the gold standard and to just start printing money should be criminal.
Best educational channel I have come across internet
I really like these videos.. I am a visual learner so the simple diagrams make the topic easier to understand. That is good because these topics can get complicated.
Just goes to show you how intertwined everything is. The chain reaction and Domino effect is astounding.
I really like the way all this research and information was presented.
Love your content!
Woop, I like the use of historical videos.
I found some really good ones from Asia in the 1930s. It's fascinating to see the footage... unfortunately the voice overs were extremely racist (calling all Asians 'simple' for example) so I didn't share the in the descriptions. You can find them yourself by looking up "asia 1930s". Once you find one video your recommendations will likely fill with several others.
That was very interesting
Although being very basic tells me that we all have to get along together and share prosperity not Embrace greed.
Do more videos on Economic History!! You are awesome in it!!
I was a business student back in college.
First time i actually enjoy a lesson in Economics :)
Now that Lebanon (my country) is going through the same thing (almost) i'm going back to 'school'
Thanks!
Wow I'm mind blown by you're video's. It really opens my eyes to the truth about things
Big ups to you guys for keeping this piece of important history alive✨
Why you use that emoji
Watching this for my APUSH class right now. You did a really great job of explaining this whereas I wouldn't understand much from reading a normal textbook. :)
Love watching your videos
It makes my day every time I hear him. I love this mans voice sooo much.
Aaaaah I LOVED this video!
The Latin American part is very well done (as all the other ones) but the Brazilian bid I can affirm that was spot on... I think every Brazilian kid learns about the coffee crisis because it was insane and it caused a gigantic shift in politics, making sure that other areas other than Rio de Janeiro or São Paulo would be properly supported by the executive government. A few decades after that shift, they made Brasilia: in the middle of Brazil, the new capital.
I love history so much
Yeah, Brasil have everything and unfortunately most Brazilians have corrupt mindset ruin everything that prevent Brasil being amazingly prosperous. It’s a sad sight to see a once beautiful city like Rio de Janeiro turned into shithole even worse is the economical powerhouse São Paulo only get cleaned when there is election and can’t even maintain its historical areas, so there is nothing but concrete high raises buildings, disgusting pollution and traffic jams. Brasilia looks like Moonbase Alpha TV series from the 70ties and is nothing than a shelter for greedy corrupt national politicians.
Why didn't they just hire therapists if everyone was depressed
How do you not have more subs???I love you work and talent
History channel could never. Thank goodness you exist
"Dude with Charlie Chaplin mustache". Lol I love your sense of humor man.
43 minutes, we’re in for a treat
this is a great video for learning history in general
Great job of explaining the great depression. It puts it into simple terms that people can understand, well some people can understand. I lose people at the economic concept that businesses must have more come in than go out.
This channel is awesome very good videos.👌
At least one Depression-era tariff, the Jones Act (Merchant Marine Act) of 1920 (yes, I know that's a little bit before 1929, but still), prohibits foreign-registered ships from carrying goods between US ports, and that still a major problem since that means that a) much of America's domestic shipping has to happen across highways and rail where it more easily happen across rivers or along the coasts, and puts much unnecessary stress on ground infrastructure; and b) forces mostly Panamanian-registered and -crewed cruise ships to visit foreign ports before returning to US shores (the only exception as I write this is a Norwegian-owned cruise line that operates out of Hawai'i).
That Jones act fucked Puerto Rico the likes no other law has fucked a country in a long, long time. To this day, the economy of Puerto Rico is a disaster all thanks to the Jones Act.
You’re delightful to listen to. Love your sense of humor while educating us. Thank you!
Hey there, you explained everything in a very subtle manner, everything seemed so easy when i saw the videos, i really want something like this from long to keep myself updated, i request you to make videos covering the greek mythology too sometime, that would be a big help, it's typical to understand and the way you explained everything was real smooth, and i know I'm asking too much but can you provide breif notes and details like timeline or flowchart kinda something, so we will be able to make notes for future reference. Thankyou so much, you helped me a lot. Thanks. :)
Very nice to see this topic covered on a worldwide scale for a change. Kinda weird that I just finished a book about 1968 that also covered the entire world, rather than just here in the U.S.
6:22 This is a really well documented phenomenon and if you want to know more about it, it’s called a “Bank Run”, it’s similar to people storing water in bathtubs during a water shortage or people filling up gas cans during a gas shortage. Small shortages or hiccups can become very dire when these practices take place
Except that some people had entire reservoir of water storage that they wanted to fill up.
Great analogy 👍🏻
I guess you can say we had a toilet paper run during the China virus.
guess we all know what a bank run is now
@@horaceroyal5289 lol
when corona started everyone went buying
Nice work ! Excellent !
I have learnt so much from this video than I had earlier come to know from different items and methods of literature.
Really glad you covered Antarctica very sad what happens there
Brazil was like "I'll do myself then"
As a Brazilian I can relate lmao
We usually do ourselves when we can't pay for something. Like myself I was feeling tooth pain due to a open cavity, and I cant pay a dentist, so bought myself filling and filled my cavity 😂
I'm not feeling pain anymore at least.
Be careful doing this because you are just filling the cavity, not getting rid of it and then filling it, the cavity is still there, it’s just underneath, this will eventually lead to internal tooth decay and possibly a lot worse and more expensive issue like root canal.
Smartest South American:
Thank you for the video. It is interesting, and very informative.
Excellent use of the poll there, wow.
Some omissions in the content as to cause and continuation: #1. The cause and length of the Great Depression was in part due to the Federal Reserve Bank's (rich insiders) contraction of money supply. #2. The Roosevelt administration favored tariffs because it was beneficial to their political allies, the large unions, though the new tariffs caused huge problems for those outside the unions. The Fed and the Federal government prolonged the suffering of Americans for their own benefit.
Right... Because the entire world hinges on the USA...
Please stop being so America-centric. There were a lot of reasons it happened. Not just one.
42:42 loved the Avatar reference!
When I heard that, I was painting, so for an instant, I wondered if maybe it had been a line from a philosopher that had just also been referenced by Aang. But I looked up in time to see the arrow and I knew. My heart is full
I love this channel and I love the random 🍫 popping up in every video. I learn so much and the message is always so clear. My friends think I'm a genius now 😂❤. Thank you!
I love the fact that you're pointing out money is gold for those who know what Au is