The US Economy is About to Crash Hard - The Wall Street Crash | Between 2 Wars | 1929 Part 1 of 3

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The US Economy is About to Crash Hard - The Wall Street Crash | Between 2 Wars | 1929 Part 1 of 3 5
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In 1929 it's been nothing but growth for the US economy for years, at least if you judge by the New York Stock Exchange. But all that glitters is not gold, and when the gilding comes off this bubble it sinks like a lead ballon.



Hosted by: Indy Neidell
Written by: Francis van Berkel and Spartacus Olsson
Produced and directed by: Spartacus Olsson and Astrid Deinhard
Executive Producers: Bodo Rittenauer, Astrid Deinhard, Indy Neidell, Spartacus Olsson
Creative Producer: Joram Appel
Post Production Director: Wieke Kapteijns
Edited by: Daniel Weiss
Sound Mix by: Iryna Dulka


A TimeGhost chronological documentary produced by OnLion Entertainment GmbH.

💬 Comments on the video
Author

Now... ladies and gents - this is not a video about 2019 and we are not making any political statements. We know that some of you love making parallels between the present day and historical events. Although we can learn from history, try to remember that the circumstances were very different. Others among you feel it appropriate to extend partisan conflicts backwards and make out our videos, or events in the videos as partisan statements or issues. First of all we simply don't do that, we just relate the events and the circumstances as factually as possible with the best possible sources. Second of all it is pointless to look for the 2019 partisan left/right divide according to party lines in events that happened 90 years ago. There's just no comparison as both reality, and political parties have gone through so much change that the members of the same party, from today and then would probably disagree so vehemently on so many points the they would not even understand each other. So please, try your best to not go off on partisan rants, as it distracts form the actual historical issues at hand, and do respect our rules:

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Author — TimeGhost History

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17th Century Dutchman: Tulips will always hold their value

Author — Arbiter099

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Al Capone warned all his employees to stay away from the stock market. He said it was a racket.

Author — The Shoreham Boy

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When Black Monday hits in Kaiserreich.

Author — flyingkoopa45

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So your telling us Chase Bank was corrupt back then too? Truly the more things change the more they stay the same.

Author — Daniel

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I am disappointed by the lack of cats on vacuum cleaners in this video.

Author — Seamus McFlanery

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I love how Indy rises to a thundering crescendo at the end of every video, like a building wave that finally crashes into the shore and gently recedes.

Author — Aramis419

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Everybody in every generation- "boom and bust is no more"
History - uh huh. Hold my beer

Author — Richard Nunn

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I really liked this one...my grandfather returned from WW1 and opened up a clothing store in 1924. My dad remembered the crash very well...even though he was just 8...because for the first time ever...he saw his dad crying over the collapse of his finances. But my grandfather was able to keep his business going until his death in 1974.

Author — Bruce Jones

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My hopes for this not being demonized are high as the stock market, but I know it’ll crash😪

Author — Rather Generic

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This lays out just how the Crash happened really well, rather than just letting "ECONOMY FELL LOL" take its place like most other 1920s history might try for expediency's sake.
I'll leave TimeGhost money for a round before I throw myself out of my Wall Street office.

Author — JägerLange

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I put my dough in Wall Street
in the spring of twenty nine
and soon my broker told me
a million bucks were mine.
I left my dough in Wall Street,
I hadn't got a care...
Yes I put my dough in Wall Street
now I sell my apples there!

Author — Kettenhund31

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"Somebody told us Wall Street fell,
But we was so poor that we couldn't tell.
Cotton was short and the weeds were tall
but Mr. Roosevelt was gonna save us all."

Author — Mr. Tilldaddy

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This is what happens when the economy runs on speculation and emotions! A.k.a living in a fantasy land!!!

Author — TheWedabest

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The biggest problem is when banks get to participate in speculative investing. Say you have money in a bank. Say that bank speculates in a market bubble. Say that bank loses more money than it has assets. Then you have two issues: 1. The FDIC (taxpayer) is supposed to reimburse the depositor for their money lost, and this might take many months. 2. The bank was "too big to fail" and the FDIC doesn't have enough funds to cover its losses, then the federal government (taxpayer) might have to step in and artificially prop up that bank. Note that these can happen even though the depositor thinks they have their money in a safe place. In some situations, if a bank fails, the depositor might only get pennies on the dollar deposited, even with FDIC.

After the Great Depression, the Federal Government created the FDIC as part of The New Deal. They also regulated banks so that they could not invest in speculative investments. However, since those regulations were created they have been eroded over the decades and banks started writing mortgages for people who could not afford them. This led to the Subprime Mortgage crash a little over a decade ago. Since the banks bundled up and sold some of these subprime mortgages to many investment portfolios, many people lost their retirement money while others lost their homes. Some people complain about regulations, but often they are in place for a good reason.

Author — Leslie Franklin

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@10:39 so the people and the market were basically like orks, if enough of them believe in something it will become fact

Author — adelkheir

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Bubble economies eventually crash, whether based on real estate prices or "margin trading."

Author — Otokichi786

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I think it was John Wanamaker that famously said "When my shoeshine boy was giving me stock advice, I knew it was time to sell" America Sneezed, Britain caught the Flu, and Germany almost died of Pneumonia. Talking about affecting America for generations, my grandmother was a child of the depression and when she died in 1992 we went through her things and found almost $1000 in "egg" money socked away in drawers, coffee tins etc. It wasn't until my Grandfather passed away ten years later that we found almost $500 more in money she had hidden around the house. All because she trusted banks...mostly, but she wanted to just be on the safe side...just in case.

Author — Wolf Hammer

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The best analysis I've ever seen of the 1929 financial crisis, thanks for the awesome quality of your content guys, we enjoy every minute of your videos, keep'em coming.. 👏👏👏👏

And if anyone from YouTube is monitoring the comments, get this to your bosses : " Stop Hindering any positive effort that can help elevating people's consciousness and intellect, you're losing your credibility by demonetizing, every interesting channel with serious content" ... 😒😒😒😒

Author — Mehdi BOUABID

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My great Uncle was a banker during this time and lost his job and got hired by the IRS

Author — USSChicago1943