I find it disturbing that this depression lasted so long. I was taught in school that it was all President Hoover's fault, but I always assumed it was more complicated than that.
@@the_awakening6044 this rhetoric is simply rhetoric of the chicago school of economics which ultimately works on the side of the elites that hold power
@alexarviso6836 This is the dumbest thing left leaning people say. Capitalism freed from onerous regulations gives new technology, significant wage gains to the poorest workers, abundant housing at affordable prices and very low unemployment. We've seen that play out over and over again across history. Capitalism needs some regulation but it's very easy to go too far and kill the golden goose. 😂
@@Gguy061 I mean, everyone know that remember? Anyone with any sense of self-awareness at least, best we can do is minimize how much information they receive.
@@Gguy061 I mean the algorithm still has flaws. For example, after watching true crime videos related to darkweb marketplaces, the algorithm started giving me adds for bitcoin. However I'd been watching what were basically bitcoin horror stories. Either the tech isn't there to take advantage of all the gathered info (which I heard from someone who worked in big tech a few years ago was there problem) or advertisers don't take advantage of it fully. We still have the equivalent of obscurity. Same with the comment above. Just like my true crime videos mentioned bitcoin, this mentions investment. But adsense can't tell you're in a hostile mindset
Two ad videos and a banner every time here in 🇩🇪. I'd love to know what really gets videos demonetized and other details. .. like if it's a regional thing etc.
I’m trying to become a history teacher myself and seeing your lectures and story makes me want to push even harder. Thanks for making great content, I may steal these lectures for my classes.
This is the most elaborate but simply worded explanation of The Great Depression. I've been getting into investing in the stock market more lately and there's always that naive fear of "losing everything" because that's what they told us in school that happened to investors. I knew there was more to it and I've looked it up before but This lecture on what is thought you have happened and then what followed was so much easier to understand. Great job!
The internet has made traditional higher education irrelevant. I’ve been able to learn exponentially more after college. I didn’t have time to read anything useful in school and there wasn’t enough mental space to keep hold of the things I actually cared about. Tests, grades, and the elitism of education is sooooo passé.
@@MissCarlyJoy The only thing tertiary education offers now is prestige and a little piece of paper you get at the end that proves you studied what you claimed to study, that's pretty much it. I agree with you, if it's not specifically for learning how to do a specialized or highly specialized job, it's not really worth it.
@@MissCarlyJoy For more practical subjects, there's still a valuable place for higher education if the schools make themselves valuable. But in many ways it's just about getting a piece of paper
I like the lecture format. It makes for an easier watch to multitask because the visuals are not changing as quickly. Love your other videos too, but sometimes something passive/low key is nice. Gotta feed that that algorithm! Have a good one
Damn Cypher, after all of public school, and 3 years collegiate politics, domestic and world history I honestly have a better grasp of the first half of the American 20th century from listening to this, podcast style, whilst at work. Good on ya, mate And tou-fucking-ché public education. Suck it Mr. Schenck.
Thank you for all your hard work. I love these episodes. I've always enjoyed history and it's really neat to learn more tidbits to fill in the holes. I'm watching the Nazi episode now and you were mentioning what could be better. Maybe a slide per bullet point.
Your content is wonderful. Love it. Have you considered history from the other colonies? Like Australia?Jack Lang was quite the dude. His political life is a ripping yarn.
Ah that 30 year's delay... always, always gets to me. You know someone was hoping a lot of these soldiers would die in the streets before they could collect....
In my great-grandfather’s journal, I found a newspaper clippings from The Detroit News printed in 1932- “Devaluation of Dollar Urged as Revival Base: Enormous Debts Endangering All Equities, Hentz Partner Declares” & “Elections Bar Debt Solution: Meanwhile, France Is Standing Firm on Question of German Reparations”. He was a lawyer and staunch Republican, working for the National Surety Corps. on insurance claims. He also wrote about FDR winning the election mainly because he promised to end prohibition.
I remember reading once that when Patton pushed out the bonus army, he did so knowing that there was a former WWI solder who saved his life among the crowd. Is this story true? Also, was Eisenhower there that day? I know McArthur was the one who led it. I know Smedley Butler was there in support of the bonus army.
One big factor often identified as causing the crash was the death in late 1928 of Benjamin Strong, Governor of the NY Federal Reserve Bank. He was pretty much head and shoulders over everyone else in knowing how to manage the money supply. Deficit spending by the government on a large scale might have been able to keep the economy on a reasonable course, but such spending for economic reasons was largely unheard of, widely considered imprudent and therefore politically infeasible.
I think “black” bc historically in western Christian society black and white represent evil and good (?) Black represented something bad or grave so it kinda makes sense (partially explains why centuries ago black ppl began to be mistreated by white ppl) This is my reasoning at least by putting two and two together from what I learned about anti blackness in medieval Spain/ parts of western Europe which were largely influenced by Christianity
The 3.2 percent beer law should have been passed in 1920. The prohibition amendment outlawed transportation and sale of intoxicating beverages. The Volstead Act implemented prohition by defining anything over 0.5% as intoxicating. Try sitting down with a bottle of beverage of 0.6% alcohol and getting drunk some time. If the Volstead Act had specified 3.2% or even 3.0%, we might have an awful lot less organized crime more than a century later.
Not sure if you'll will ever see this, but where do you get your music licenses? I'm recognizing a few songs I like and if I can get them in one package, that would be cool
I like to think of the American capitalist economy as a car traveling down a highway, which can change shape. You can try and guide its shape-shifting, but it'll fight you the whole time, and whenever you relax, it tries to become faster... at the expense of everything else. You may start off with something nice and stable, like a sedan, but then it starts ditching such trivial things as seat belts, air conditioning, shock absorbers, brakes... it begins looking more like a race car, then one of those rocket cars they use to break land speed records. And sure, if you let it do this, it'll go really, really, *really* fast... ...right up until it hits a pothole. The capitalist system encourages greater and greater risk-taking, gambling on nothing breaking or going wrong... but things *will* break and go wrong, inevitably. And when they do, the fragile system you've built will crumple under the shock. After enough of this, you'd think we'd ditch the car and take the train.
My grandpa and grandma moved back to his parent's farm after he lost his job as a car mechanic and pump jockey. At keast on the farm we had food, is what they told me. It was really bad times. And Grandpa said it was all man made. The bankers did it on purpose is what he believed and i think he was right.😊
FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression Reprint Edition the New Deal hampered recovery from the contraction, prolonged and added to unemployment, and set the stage for ever more intrusive and costly government. Powell’s analysis is thoroughly documented, relying on an impressive variety of popular and academic literature both contemporary and historical.” -Milton Friedman, Nobel Laureate, Hoover Institution
Yeah....good ole uncle Milty. The guy who's philosophy and policy ideas have led to 40 years of stagnant wages for a majority of the population. Luckily, a large number of them still buy into this self-destructive drivel.
@@jreis5888 Being a Libertarian I would not know., FDR & New Deal policies combined with failures at the Federal Reserve not only caused the Great Depression he prolonged it. FDR's Supreme Court started viewing his action against the Constitution and was stopping him. Then, FDR threatened the court with ''packing'' because most of his New Deal ideas were struck down as unconstitutional, including the minimum wage. Another example, after the stock market crash of 1929 the unemployment rate peaked at just over 9% & by 1930 it started to go down without any government intervention. During the peak of New Deal policy the unemployment rate reached 24+% after FDR tripled taxes & introduced payroll taxes, higher minimum wages, compulsory unionization, & a strangulation of the money supply by the Federal Reserve. FDR is the Grandfather of Social-Democrats, LBJ was the father, and Obama is the parodical Son with his little sister AOC willing to go further.
Some of my grandparents grew up basically after the depression started. They said at the time it didn't seem bad because they had nothing to compare it to beforehand (they weren't born/ didnt remember pre depression)
I feel a little comfort in this. When the pandemic started I was scared shitless during the first week or so. But after awhile. I just grew numb and accepted everything around me. Now that the pandemic is somewhat in a soft over. I realized that I got used to just being inside all the time and had zero interactions with anyone. I was an already shy kid. But the pandemic made it worse. Now ironically I'm afraid of going out again and interacting with people. I feel that realistically speaking. In any horrible event. Most people just accept it as life and move on.
Once I built a mainframe, then watched my job go over seas. Brother can you spare a dime? I trained my replacement with a smile on my face like a real "professional." Brother can you spare a dime?
I used to watch basically talk radio on RU-vid and it is exhausting. Stuff like this is enriching and we're better off for having watched it. Glad I am not alone in watching historical lectures for entertainment!!
Elites who profited off of Colonialism and Westward Expansion, unaware of modern problems. Like WW1 and the Depression. So, then power shifts to people who have experienced the reality of the situation.
That's the American way baby Taking in the poor and needy Turning them into board / traumatized soldiers And then throwing them away like broken toys that a child through with out of care in the world only to pick up the new one It'd be funny if it wasn't so pathetically true
I do tend to go more with the reform being more important for the long term. Relief for the short term Recovery being in the middle and should be given to all. Not ignoring anyone. I came to this conclusion via what happened in 08 and Trump's Virus of 2019-2020 Considering what I saw, their is a section of society that wants to pretend all is ok and that absolute capitalism for the average person and socialism for the wealthy people is ok. Which is absolutely not ok. If anything i believe they got it backwards. We need to have companies face harsh capitalism rules while the average person isn't just dumped.
I was always told by my fellow leftists that Hoover was laissez faire while FDR was "the one who got things done". Interesting to see that he wasnt actually that different from Roosevelt
Hoover was laissez faire.... until it did nothing to relieve the great depression. Hoover whole career was based off laissez faire capitalism, and he only changed his tune when the markets begin to unwind. It's even in the video on the policy change. But compared to fdr, Hoover was definitely laissez faire.
@@henrytep8884 actually when the depression hit and Hoover went to new deal esque programs, the programs compared to FDRs are identical. In this stage, he wasn't laissez faire compared to FDR, he was identical. Keynesianism seemed to work better in Sweden and Nazi Germany, the countries that came out of the depression the quickest. I reccomend "Three new deals" by Wolfgang. Studies the Keynesian policies of Nazi Germany, Fascist Italy and USA.
Truth is things never change. Doesn’t matter if it’s trump or Biden, the wall will still be built, the migrants will keep coming, and politics will get more and more insane.
@@ManiacMayhem7256 the masses never learn, people always want an easy way out. That’s why Rome had Caesar, and that’s why we will have something similar.
Have you read Touré Reed or Harvard Sitkoff? They present some interesting views on how new deal labor activism helped provide the groundwork for the civil rights movement.
My great grandfather lost the family farm during the great depression & then moved to a town in Pennsylvania where he was killed in an industrial accident in a trolley car factory.
A bit of an issue I saw here and it’s a pretty common misconception. The early New Deal was not Keynesian. Keynesianism didn’t even exist until around 1936 when he wrote the General Theory of Employment, Interest, and Money and FDR didn’t even really start adopting it until after 1937. Edit: I should add that as you mentioned in the end it was WWII which brought the economy out of the depression. It mostly aligns with Keynesian thought that deficit spending will help an economy come out of a recession/depression. FDR was raising taxes throughout the first and second New Deal which is in opposition to Keynesian economics. There’s a theory out there that the US was on the path out of the depression before FDR raised taxes to balance the budget. Whether that’s true or not is up for debate but I wanted to clarify a lot of the misconceptions when it comes to The Great Depression, the New Deal, Keynesianism, and how we got out of the depression
Keynes met with FDR and said he was a nice fellow but not very bright. His social policy advisors were liberal and his financial ones were conservative,
My father was in the CCCs by the way, he spent time in Montana clearing trees and building roads. The New Deal was nowhere near as good as it could have been, but in my opinion it was better than what we had before.
Nice video, do you by any chance have a lecture of the build up to the Civil War and a summary of it you could record if you have the time? These lecture videos are really relaxing to listen to, and you do such a great job narrating them.
I've already watched this video twice. Now I'm watching it again (it's a nuance thing). Cypher needs to quit making videos. It is taking up too much of my time. He should stick to harmless macaroni commercials. I would get more sleep. Not a big fan of macaroni.
Would say that, while we've embraced the term, in the context of the great depression and migrant labor in California "Okie" is usually considered derogatory.
My father worked for the CCC in California, my grandfather hated Roosevelt for his regulation and corruption, giving his bond printing business for banks to his contributors. I think now see that raising taxes during a depression wasn't a good idea, but America actually attempted to pay its bills until Reagan made the Republicans the deficits are fine if we make rich people richer party.
I think it depends when you mean in terms of the popular front. Stalin was largely against it and called social democrats or capitalists - social fascists. So he actively pursued working against both fascists and capitalists until agreements made with Germany in the later half of the 1930s. Trotsky was proponent of popular fronts which he outlines in his booklet about fascism which was released after his death. Trotsky as you know wasn't in charge of the commitern or USSR or apart of since the late 1920s.
In the US macroeconomic is pretty much a secular theology and its discussion has been inundated with wishful thinking at its best and exchange of insult at its worst. I am glad that you shared these materials. Thank you
My grandparents went thru this just lost my pops last year he was 91 The mindset even though he ran a business and retired comfortably , it never died he was always in that mode
It’s important to not that the VFW and the Legion at this time were very different organizations. And that the Legion itself was funded by individuals involved in industry and banking. JP Morgan donated 100k to its foundation, so I am not surprised about the group’s opposition to giving out the bonuses.
