1929 Wall Street Stock Market Crash
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- Опубликовано: 19 июн 2008
- The most devastating stock market crash in the history of the United States;
Its from my favorite documentary by PBS - New York.
This particular part about Wall Street crash of 1929 is from episode 5 of the series with title: Cosmopolis
there are lots of archive photos, footages and drawings throughout the series and in my opinion it was great work done with finding them.
series website:
www.pbs.org/wnet/newyork/serie...
"Archival shoots took place at various historical and cultural institutions, including the New-York Historical Society, the Museum of the City of New York, and the Library of Congress, and focused on the filming of particularly rare or large-scale archival prints, lithographs, maps, and photographs"
Wow. What these people had to go through must have been really devastating during this time. Just the thought that they almost knew what it was like to be a TF2 trader on July 26th, 2019.
Im gonna miss the days when unusuals were actually rare
This so sad, here's a burning flames team captain to wipe your single tear
what a coincidence that this was posted the same year as the next crash
the kids that today's generation have will surely learn about the 07-08 crash
Learning about it in Econ Macro right now!
Aaron Rollins 2008 wasn't the next crash after '28 lol
Jonathon: LOL Jerome Powell will print more money than there are stars in the sky. Alas, to no avail.
@@jonathanpowell613 that is not accurate as global Inter-connected are more connected NOW than 92 years ago !
You know that moment when you watch this In class
Yeah that’s when you put your head on your desk and take a nap
Yeah that’s when you learn what to do incase this happens again. Try and not be ignorant and get how terrifying and possible it is to wake up and try and get money out of your account and you can’t. The banks don’t have it and you only have 50 dollars cash. Now imagine 300 million going through that
sad
WW16. Far too great that it skips the rest
@@beastfromtheeast9318 That us literally me. I always sleep when we are watching something
We never learn from our mistakes, Do we?
Yeah, interesting vid tho. Imagine if you responded
Ironic how all the investors waiting to trade stood on Alexander Hamilton's grave
the two strongest emotion in mankind fear and greed. When everything is working out well you feel like you can take on the whole world. But when you have nothing fear sets in.
"The day have been saved by the house of Morgan"
I can't believe people actually thought that. You just can not trust banks. No ifs ands or buts about it.
"Excess speculation." That sounds familiar. It seems that in a sense history repeats itself.
We are headed for the Similar fate.
March was scary, but I hope we're all doing ok.
No lol not even close
the crash happened before America understood what budgeting meant. Meaning : hundreds of thousands of people were barrowing money to spend on things they didn't need and they were slowly paying it back a little at time with what they earned from factory jobs. When the factories were closed people couldn't pay back the companies they were buying from so those companies were forced out of business and when that happened stocks went so far down that the market crashed.
The people hit hardest were those who borrowed most of the stocks' book value; only to have to pay it back to their creditors, but couldn't (when the stocks crashed) -- thus losing essentially everything! To quote Shakespeare: "Neither a borrower, nor a lender be." From Hamlet, Act I, Scene III -- from a soliloquy by Polonius. He knew!
1929 stock market crash : (exists)
Normal people: 😱😢
Certain read head radio host: (wheezes)
"So many orphans..."
lessons iv learned, never trust economist, never trust bankers, never trust the newspapers/media, never trust government, never invest in paper or virtual things that do not exist in hopes of profit. Its kinds ironic how history keeps repeating itself, just watching this video reminds me of current day, how we are told that everything is fine and nothing will happen. But sooner or later shit will hit the fan, and i hope im prepared for it as history has taught me.
Better lesson: never invest.
I have two asset classes:
The ones I trade and the ones I keep in my bomb shelter.
One loses value over time but will hold value if the USD permanently loses value (or worse, everything above ground is decimated, conventionally, nuclear-based or naturally).
The other gains value, regardless of the price-action of the market, but would not hold value if the USD permanently loses value.
I'm learning how to short right now because I can't find good deals on stocks.
If it all comes crashing down, I will make a boatload.
If the market recovers (as it has every time before), I will have all sorts of good deals to buy.
I will likely emerge a hundred millionaire.
Some people let life happen to them. I happen to life.
The problem is not the collapse in prices, it's the ridiculous rise in prices in the first place. Anyone watching the DOW these days?
It's the fuckin' FED and bankers pulling this shit. They've turned the stock market indexes into nothing but a pure ponzi. The fundamentals are far worse than before the '29 crash. No one born before the 1980's has ever seen a true bear market like the run from 1968 to 1982. The next crash in the indexes of at least 75 percent will be followed by a long sideways movement in stocks probably twice that long or about 30 years
"I never found such entertainment since the stock market crash of 1929 HAHAHAHAHA"
Alastor LMAO
So many orphans.
So... in 1929 we traded 16 million shares as peak. Nowdays we trade that in 5 seconds.
Care to take a guess how big the next cash can be?
+dosduros Actually, not even close to as big. The reason 1929 was so bad was because there were no regulations, no FDIC, you could get ridiculous loans with no money down, the Federal Reserve didn't do anything. 2008 is about as bad as it could possibly get at this point.
+SteelersRule1011 In 2008 we had regulations and FDIC and FED. Still it got very bad, and some people dont think its getting any better (me included).
You can still make trillion dollar bets with billion reserves, so.... well we will see.
dosduros 2008 was bad, but not even remotely close to as bad as 1929. Without the FDIC, when banks fail, the depositors lose all of their money, and then people have no money to spend, and then buisnesses lose money due to a decreasing number of buyers, and then they lay off workers or cut wages, and then the workers have less money to spend, and it snowballs. The FDIC insurance of 250,000 per person and the FED's ability to give easy credit (lender of last resort) stops banks from failing, which softens the effects of a crash. And remember, in 1929, the market lost 30 billion in 2 days. In today's money, that's 416 billion. In two days. Two days, 416 billion dollars. We might lose a couple trillion in another crash over the period of a year or two, but it doesn't matter if we have trillions more in reserves, trillions in income, and trillions in easy credit. As long as the FED and FDIC exist, we will never have another crash to the level of 1929.
As sensitive as people are today, if speculation was the nucleus, forget it , disaster
If the FED and bankers had of left the market indexes alone they would have equaled or surpassed the 89 percent loss from the top to bottom way back from the initial '29 crash. Anyone in stocks today will be working until the day they die because they never learned anything from the '29 crash.
Pretty funny to see these historians talking about the 20's and how similar they are to now. Its the little guy vs. the oligarchs.
Are farms going bust and sales going down now too?
Maybe not industrial farms but certainly little farms.
Little guys act like idiots sometimes tho. Over value stocks and fuck the whole market. Take Amazon/Tesla/ fucking Nikola this year for example. Over inflated by dumb money
Thanks for sharing this :)
"..and then the bottom fell out"
I would take that $100 car...
Yeah, I would too.
Why are people who watch this video making fun of it? This is a good video and we can learn from it. We have had panics before. 1893, 1907, 1914, 1987, 2008...and we may experience another in the future.
Andrew Smith One day, I watched a video, about this "krasch".
Everyone was looking at a screen.
Then, the numbers on the screen began to move, really fast, and all the people became crazy, and ran I don't know where.
Can you explain me why ? I don't really understand that.
Unless you just crawled out of a cave today you'd realize how overvalued the markets are today. You'll learn when the FED and bankers unload their 400 percent overvalued tripe to the feeble public.
Andrew Smith it’s the bankers numb nuts!
Fast forward to 2021….history is repeating itself
What's your strategy? Sell before the crash or hold and buy more during the bear market?
Nothing is as terryfying as sound of paper crashing
They happen in the fall because that's the 4th quarter of the year, when everybody reacts to the year-end realities compared to their hyped expectations.
Many people at that time used the credit system, in which when they would buy something they couldn't afford they would give a little bit of their money from their pay to pay for that item, but when many people began to lose their jobs they were not able to pay for the items they bought and when the items were not payed for the companies lost money, which became worse and worse leading up to Black Saturday and lasted a whole decade.
The thing is that the 1929 crash wasn't the first financial crash. People forget the lessons of history, and still do today, despite history being available at our finger tips.
The Stock Market has recovered went on into the future, but its memory still leaves a scar on our country almost 100 years later. I hope we are smart enough to stay from such a crash although 1987, 2008, and 2020 shows the power of human behaviour and the effect of circumstance.
May 2021 will be the blackhole of depression compared to the 1929 one
@Jojo we just printed like 15 trillion dollars of debt the past year
I'm viewing this in the year that there is another crash dang
hi dhairya
hello dhariya
also the youtube video was posted in 2008 during which there was also a crash
@@TheNinjaWildcat hi larry
tehe
This video sure helped me for studying on my great depression test.
Bet Alastor was among those people during the stock market crash. Anyone saw him?
CAN ANYONE PLEASE EXPLAIN WHAT SPARKED THE CRASH???
how did everyone suddenly find out that there were no money?
Not sure. Lmk if you find out :)
Listening to it I feel like I'm watching Unsolved Mysteries.
The Dow Jones Industrial Average all-time peak of 1929, for the record, was 381.17; reached on September 3 of that year.
October 28: Dow Jones closed at 260.64.
October 29: The DJIA closed at 230.07.
All-time low (at that time): 198.60, which was hit on November 13, 1929.
Not until November 23, 1954 would the DJIA best that all-time mark of the 381.17, set 25 years earlier.
If there was no crash I would not be here ... My Grandmother had to come home from college with one year left She had to take a different life path then in 1952 my mother was born
HABE Y9 history class was here
This is valuable lesson to learn from. When people "follow the crowd" in the stock market it causes booms and busts, and when there are busts it causes the big corporations to close their businesses down, which in means millions of people everywhere lose their jobs. There are many other factors, but that is the grand picture of how a stock market crashes, it is 100 percent psychology.
Who else is watching this because they have a project about it?
Ugh. Me
meeeeeeeeeeeeeeeeeeeeeeeee
Not me, this is interesting
Nop not me I came from a Vivziepop video...😆
me not fun
You can't crash unless you leave the ground????????? Wtf is she talking about
Lol in her world there never was a car crash.
Freddy Cook they got wierd brain if any
Some BS that they come up with
and more if have " important job"
That was my first thought
Go back and listen very carefully what she was explaining, that which goes UP, eventually comes right back down, " A Crash "
LOL they probably didn’t put in stop loss orders. The markets today do sounds similar. All time high and real economy is REKT.
Who else watching in 2019
Me, I am watching. Greetings from Germany
@@r.d.scholl5171 Greetings from Arizona, USA
wow!!!!! what a lesson!! lets learn..
2020? Anybody
Yup. Failing my history test today!
Yup failing all my classes
It happens about every 30 years or so, blame the Fed. Reserve...........
Thx for the reply
4/10 would not bang.
lol im one of the 4
crash happen when the supply is increase and they is no demand....then price will crash :) simple like that sir
For some reason i feel it will happen in October.
Then it would be 80 years since it happened exactly.
Note: Polonius also said (in the same soliloquy, as Chief Counsellor to the King): "To thine own self be true...".
RUclips suggested this video to me now 🤔
The narrator - David Ogden Stiers - is superb. He played Major Winchester on MASH. RIP
The Stock Market recovered in the following months and by April 1930, had recovered from the losses from the two-day crash. However it went on a long, steep decline afterwards.
That's what greed gets you.
good video.
think about it. before supermarkets humans spent thousands of years using the summer months to prepare for long winters by hunting and gathering. so it makes sense that we still have that basic instinct
I believe the numbers represent the the price of each stock at that time. The numbers change when the price goes up or down.
Roger Ward Babson's warning that a crash was coming (and it may be terrific!) came on September 5, 1929. By the end of that day, stocks had fallen a full 3% below what they had been when the day first started! This is what became known as the Babson Break.
the stock market was not bing chilling
right now the fed lowered the interest rates and the stock market is at an all time high. We are doing it all again.
Never think that bad times could not come back.
This shit caused WWII
***** If the wall street crash didn't happen the US wouldn't have recalled all their loans they had given Germany and bankrupting the country. Germany was worse off then America from this and people were living in poverty. Then Hitler said vote for me i'll get shit done so they did and the rest is history
***** You make my brain hurt
Same as today...
Dec 31 2019
Lots of similar things goin on with today
Rigged Market and Soon we will see it CRASH
😎😄
Ed Ca bingo
Yooo! Lemme borrow that crystal ball bud.
And we didnt
@@krissimissi7014 not yet but things are getting worse And we might see it before August
Who is watching in 2020 with growing fears?
Lol your comment totally failed guess it is just you little bitch lol
The parallels of 1929 to 2022: 1) sales were down; 2) The economy had started to cool the year before - and this is the biggest in my opinion - 3) The Wall street economy started to disconnect from the real economy. This fueled speculation.
THEORY: Peoples savings/debt fueled the 1928 stock market and people's savings and future debt fueled the 2022 stock market through qe. Just a theory, but if true we are living with a false positive in 2022 very much like the false positive of 1928. One thing we need to be sure to see - if 1928 had clear warning signs most people did not see them until it was too late to do anything about it. 2022 does have some warning signs. Let's start with $30,000,000,000,000 plus in debt.
The origins of the current financial crisis start with the housing bubble which essentially pumped us out of the tech bubble's recession after 9/11. The housing bubble originates in the mid 90s where people were making lots of money on the stock market right before it began to bubble. People wanted to buy houses. 'Cause housing supply is fixed in the short run, major investment went into it. When the construction finished, the markets realized the tech companies were overvalued and pulled out
Yikes!......😮
POV: Your teacher made you watch this to take notes on the wall street crash
No I watched it because I didn't understand anything from textbook
I can imagine that 29's autumn was truly sad...😢😮
But recovery is the best
2:07 People should have recognized the ominous (and obvious) danger signs.
damn the nwo who did this and are doing it again
The stock market was over inflated with money that investors didn't even have. They were too eager to get part of the rumored wealth, so that they invested money that they borrowed from lenders.
Although history repeats itself, I believe the next drastic history on the scale of the 1929 crash will be one that we cannot think of.
Perhaps we stay in a bear market down for 20 years. Or maybe the same substantial fall will happen to the upside. Maybe we go up the same amount we had fell in 1929. Everyone who shorted stocks today or sold will be jumping off roofs. Maybe the Nasdaq gets to 6000 tomorrow.
My point is...it's going to be something unimaginable at this moment.
On Monday, Oct 19 1987, the DJIA fell 22.61% -- this is equivalent to the Oct 28 & 29th 1929 percentage losses combined. However, the economy was strong when this debacle occurred, and there was not even a mild recession in 1988.
@YesForHope
The stock market crash was not the CAUSE of the great depression. It was simply the final spark. Just like now the main causes of the new recession goes back to 9/11, then the Iraq war, gas prices, irresponsible loans, debt, higher taxes and inflation. I want to know where the depression STARTED.
Here we go again..this time Greater Depression of 2009...
America still does not know how to budget. Mac and Maggie mortgages are a good example. The history repeats itself.
Which stocks survived the stock crash of 1929?
Were there stocks that improved despite the economic decline?
@MegaCreativekid Yeah, but the reason it got to that is because we are totally dependent on the federal reserve, and when it began to show it wouldn't work too well, the recession happened. If we didn't become so dependent on the federal reserve, this problem may have been avoided
Here after Peaky Blinders S5 E1.
Same
You're lucky I do my history assignment about this. ;)
Because factories but continued to produce, but everyone had everything, there was nothing sold. People were dismissed, bought nothing and therefore were more people dismissed and went more companies bankrupt. Europe was finished with the reconstruction, so there was no export annymore.
Sorry if this is write a little bit weird, i'm Dutch... But i hope you understand that better now :)
Funny how history repeats itself.
Easy. Everybody down to the shoeshine boy was invested in the stock market and was investing borrowed money.
In order for their bets to pay off, new buying in excess of existing buying had to take place. Problem was there were no new people to take loans and "invest" so the market was bound to crash anyway. On top of that of course there were some real smart people that realized the state of things and sold their shares and began betting on a market crash too- they made fortunes.
You can tell this video is from a few years ago. I don't see any of the bit coin scammers here.
@Thelxtlan...you called that correctly!
...And boom we're in the early 2000s recession. As with any economic contraction, the markets began to readjust to closer to their true values. During these times, there is a uncertainty and lose of confidence, so investment falls. The FED cut rates to battle unemployment. Coincidentally, there happened to be excess housing stock which was very cheap. Because borrowing was cheap, investors saw housing as a safe heaven in market of uncertainty recovering from over valued tech stocks.
That example is similar the when dentists used to call dental crowns (caps) 'permanent restorations'. Well, they were not really permanent, but instead wore out, etc. Then people would come in and complain that the dentist said they were 'permanent'. Now denstists call them 'final restorations'.
I hope everyone is paying attention, this sounds all too familiar.
Wow..
After 92 years of the 1929 crash. We’re back again. People die but human behavior is well alive. In 1929 They used 90% debt to put on market, now in 2021 they used 1:4 - 10 ratio. Robinhood
feels just like today
So when all the speculators "sold off" at once on black Tuesday, who exactly were the buyers?
Did the concept of short selling exist back in the 1920's? Because if it did, they would have made a bundle.
Just like the professionals that advised on the 1929 Crash?
watching this now-does anyone feel it?
I'm watching this Becuase of Hazbin Hotel, just wanted to know what it was.
They built the skyscrapers so that stockbrokers would have something to jump from.
scary similarities between the present and past...
Ready for a replay?
And just like the shoe shiner at 2:40, same thing happened to real estate in 2006.
I started selling all my properties when not only; people were jumping all over bidders back going 15% higher than asking price,;but also because I was seeing people who were poor getting half million dollar homes.
And then POOF. Real Estate was done.
Employment continued to lag behind, so the FED continued to cut and borrowing got even cheaper. Housing prices began to rise which induced speculators. Appraisers were not independent; that had the incentive to overvalue property to continue getting business from banks and loan issuers. The mortgage market boomed to finance buyers or refinance existing borrowers. Experimentation with exotic financial instruments used to curb risk created systemic risks as the mortgages were securitized.
I’m watching this in a year were there’s another crash