What Happened After Black Tuesday
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Date: 2022-12-29
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Comments and reviews: 20
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The stock market is a graph of rich peoples feelings.
Thanks to Bill Clintons repeal of Glass Steagall in the 90s, commercial banks are allowed to invest- aka gamble- with our money again. Its repeal was one of the primary causes of the Great Recession in 2008, although there were other contributors as well. If our government refuses to properly regulate Wall Street and if campaign finance reform is not properly implemented, we are on track for another great depression, even though we are still in one right now. The only reason why 2020 wasnt as catastrophic as Black Tuesday is because congress allowed the greatest upward transfer of wealth in American history with the CARES Act in 2020, and kept the stock market propped up with trillions of dollars. Even though many Americans lost their jobs or took a pay cut and were suffering greatly, the stock market was doing great.
Its extremely important as american citizens, that we learn our history and that we take the time to truly understand what our government is doing and to hold them accountable. Otherwise we are only doomed to repeat the past and we will never get the change that we want and need.
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The stock market is a graph of rich peoples feelings.
Thanks to Bill Clintons repeal of Glass Steagall in the 90s, commercial banks are allowed to invest- aka gamble- with our money again. Its repeal was one of the primary causes of the Great Recession in 2008, although there were other contributors as well. If our government refuses to properly regulate Wall Street and if campaign finance reform is not properly implemented, we are on track for another great depression, even though we are still in one right now. The only reason why 2020 wasnt as catastrophic as Black Tuesday is because congress allowed the greatest upward transfer of wealth in American history with the CARES Act in 2020, and kept the stock market propped up with trillions of dollars. Even though many Americans lost their jobs or took a pay cut and were suffering greatly, the stock market was doing great.
Its extremely important as american citizens, that we learn our history and that we take the time to truly understand what our government is doing and to hold them accountable. Otherwise we are only doomed to repeat the past and we will never get the change that we want and need.
reply
Satevo
The real American history we are not taught in school was that America was all about getting away from the central banking systems that enslaved the old world. Well, only a few years after America allowed a central bank, The Federal Reserve, to take over our monetary policy thanks to Woodrow Wilson we got even more constant bubbles and crashes. We are still living under that illegitimate system today. It is nothing more than an advanced form of slavery. A true free country and democracy creates their own money. But not ours. Every dollar in circulation is loaned to America by a central bank with interest. Now if they print and control every dollar in the circulation and charge interest on that money, then where does the money come from to pay off that interest? It doesn't exist. The only way to pay off that interest is to borrow more money. It's the most destructive and fraudulent system ever created. And it keeps us in perpetual debt. Abolish the fed. Create a resource based economy and watch the country and world flourish. But is long as we are beholden to private banks to control our money supply we will always be in debt and we will never pay off that debt.
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The real American history we are not taught in school was that America was all about getting away from the central banking systems that enslaved the old world. Well, only a few years after America allowed a central bank, The Federal Reserve, to take over our monetary policy thanks to Woodrow Wilson we got even more constant bubbles and crashes. We are still living under that illegitimate system today. It is nothing more than an advanced form of slavery. A true free country and democracy creates their own money. But not ours. Every dollar in circulation is loaned to America by a central bank with interest. Now if they print and control every dollar in the circulation and charge interest on that money, then where does the money come from to pay off that interest? It doesn't exist. The only way to pay off that interest is to borrow more money. It's the most destructive and fraudulent system ever created. And it keeps us in perpetual debt. Abolish the fed. Create a resource based economy and watch the country and world flourish. But is long as we are beholden to private banks to control our money supply we will always be in debt and we will never pay off that debt.
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Mahogany
So crazy how the country/world started to change seemingly overnight. I know nothing about the stock market and I may have missed something but Id like to see a Weird History video on the days/weeks leading up to Black Tuesday? I guess what I wanna know is what happened to cause the stock market to crash like that? Was there something that couldve prevented it? What exactly went wrong? What major moves were made in the 25 yr time frame to end the depression? Thanks so much for the awesome content.
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So crazy how the country/world started to change seemingly overnight. I know nothing about the stock market and I may have missed something but Id like to see a Weird History video on the days/weeks leading up to Black Tuesday? I guess what I wanna know is what happened to cause the stock market to crash like that? Was there something that couldve prevented it? What exactly went wrong? What major moves were made in the 25 yr time frame to end the depression? Thanks so much for the awesome content.
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Shelby
1929-1939: Mississippis unemployment rate skyrockets a little over 2, 000 percent due to Economic Depression.
2020-Early 2021: Mississippis unemployment rate skyrockets a little over 2, 000 percent due to a Pandemic and somewhat Economic Depression.
Me: Well. My prediction of history repeating itself in 100 year cycles that deal with the Great Depression was off year wise, but at least the unemployment rate repeated itself
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1929-1939: Mississippis unemployment rate skyrockets a little over 2, 000 percent due to Economic Depression.
2020-Early 2021: Mississippis unemployment rate skyrockets a little over 2, 000 percent due to a Pandemic and somewhat Economic Depression.
Me: Well. My prediction of history repeating itself in 100 year cycles that deal with the Great Depression was off year wise, but at least the unemployment rate repeated itself
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indy_go_blue60
My maternal grandparents lost $12, 000 when their bank in Danville, IL. failed in 1931. (I don't know why he didn't withdraw it earlier, but he didn't) He was a farmer and that was 25 years of savings for them. With 8 surviving kids, it was a terrible time for them.
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My maternal grandparents lost $12, 000 when their bank in Danville, IL. failed in 1931. (I don't know why he didn't withdraw it earlier, but he didn't) He was a farmer and that was 25 years of savings for them. With 8 surviving kids, it was a terrible time for them.
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tara
Yo I DARE someone try to tell me starting at 2: 20 that that is NOT a Mr. John Mulaney, either mocking this announcement from 1929, time traveling TO 1929 or, my favorite and the more likely of scenarios, traveling FROM 1929 to today to gift us with his comedy.
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Yo I DARE someone try to tell me starting at 2: 20 that that is NOT a Mr. John Mulaney, either mocking this announcement from 1929, time traveling TO 1929 or, my favorite and the more likely of scenarios, traveling FROM 1929 to today to gift us with his comedy.
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KeepItSimple
The Great Depression. contrived by greedy, wicked men who lost nothing, but actually gained. They cared nothing for the common man who was totally wiped out. Human nature doesn't change. It's the same scenario now, with different players.
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The Great Depression. contrived by greedy, wicked men who lost nothing, but actually gained. They cared nothing for the common man who was totally wiped out. Human nature doesn't change. It's the same scenario now, with different players.
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education
The chaos caused by the pandemic will one day be the topic of a weird history video. They will show the president sending hospital ships out and bringing them back declaring mission accomplished with no end to the pandemic in sight.
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The chaos caused by the pandemic will one day be the topic of a weird history video. They will show the president sending hospital ships out and bringing them back declaring mission accomplished with no end to the pandemic in sight.
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Becca
My family where living In the mountains of Tennessee during the depression and my me-maw told us they didnt know anything about it they where already so poor but self sufficient and isolated so it didnt have any effect on them
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My family where living In the mountains of Tennessee during the depression and my me-maw told us they didnt know anything about it they where already so poor but self sufficient and isolated so it didnt have any effect on them
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Valerie
I have mattress money to this day.
My mother would take the Xmas present wrappings every year, folding it gently to use the following year. That's Depression era attitude that still exists to this day.
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I have mattress money to this day.
My mother would take the Xmas present wrappings every year, folding it gently to use the following year. That's Depression era attitude that still exists to this day.
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TheWhiteDeath
Jekyll island ring a bell? The great depression was set in motion by the titans back then. Funny how the not federal reserve act was ready. Problem reaction solution. We've been had for a long time.
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Jekyll island ring a bell? The great depression was set in motion by the titans back then. Funny how the not federal reserve act was ready. Problem reaction solution. We've been had for a long time.
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Lyle
I live in New Orleans and work on 1 of the 2 steamboats left in the world. I would love to see life on steamboat in the early 1900s. Considering they all burned down. And left black smoke everywhere
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I live in New Orleans and work on 1 of the 2 steamboats left in the world. I would love to see life on steamboat in the early 1900s. Considering they all burned down. And left black smoke everywhere
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Adrian
Yep! I predict an about 35% chance that America and the world will see a mini crash during P. O. T. U. S. 46. My hopes that there wont be one, however, are much higher than my predictions.
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Yep! I predict an about 35% chance that America and the world will see a mini crash during P. O. T. U. S. 46. My hopes that there wont be one, however, are much higher than my predictions.
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Aaron
Thankfully our economy is too dynamic for another Black Tuesday or Great Depression to occur on that scale again today. Barring of course some kind of externality like a nuclear war
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Thankfully our economy is too dynamic for another Black Tuesday or Great Depression to occur on that scale again today. Barring of course some kind of externality like a nuclear war
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Aaron
Hoover did intervene, Murray Rothbard wrote about this extensively in his book Americas Great Depression. I have many issues with Rothbard but this book is fantastic
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Hoover did intervene, Murray Rothbard wrote about this extensively in his book Americas Great Depression. I have many issues with Rothbard but this book is fantastic
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EngleHump
Black Tuesday, Black Thursday, Black this, Black that. yet all of those greedy investors are White. You need to stop using the term Black in a derogatory manner
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Black Tuesday, Black Thursday, Black this, Black that. yet all of those greedy investors are White. You need to stop using the term Black in a derogatory manner
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JDWanko
It's inevitable that another depression will hit. It's like another pandemic or enormous volcano. We're better prepared, but it's a rather cold comfort.
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It's inevitable that another depression will hit. It's like another pandemic or enormous volcano. We're better prepared, but it's a rather cold comfort.
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Evelyn
My great-grandfather was the head of the First Bank of Chicago in the 30s and my mom said that he was sad to see his customers hurt and ruined.
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My great-grandfather was the head of the First Bank of Chicago in the 30s and my mom said that he was sad to see his customers hurt and ruined.
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education
Even at its worst, we as a people were never forced to eat grass from our lawns to survive. cough NORTH KOREA, cough COMMUNISM cough cough
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Even at its worst, we as a people were never forced to eat grass from our lawns to survive. cough NORTH KOREA, cough COMMUNISM cough cough
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weird_history
Only 30 million shares? Awww. the market was still in its infancy!
Can't wait for the explainer video about the crash of 2022.
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Only 30 million shares? Awww. the market was still in its infancy!
Can't wait for the explainer video about the crash of 2022.
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