Great Depression
topic on 11 shows · 15 statements across 15 episodes · said 3 times in 2 episodes since 2024
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15 statements about Great Depression, every show
The 1929 Wall Street crash wiped out 9,000 banks and 9M accounts
“9000 Banks failed after the Wall Street crash of 1929. Nine million individual family savings accounts were wiped out. Almost a 100,000 businesses failed. Unemployment reached 25%,”
Grantham: In the Great Depression, value stocks went bust while quality survived
“What people found in 1929 Is the value stocks had a dangerous tendency to go bust in the Great Depression, and the Coca-Colas that were horrendously expensive did not go bust.”
Sorkin: Governments must inject liquidity rather than impose austerity during crashes
“When you have a crash, you can't move into a period of austerity. You actually have to throw money at the problem as politically unpopular as the bailouts are. The Federal Reserve needs to throw money in.”
Housel: America's Non-Fascist Great Depression Recovery Was a Top 10% Tail Outcome
“The outcome that we, that actually happened was like a top 10% outcome. It easily could have, if not should have, turned out as it did in much of Europe, where after the Great Depression, the people's response was like, maybe we should give fascism a try. Mayb…”
Marks: Being raised by Depression-era adults instills fundamental investment caution
“If your parents were adults during the depression, they were traumatized, and you grew up hearing things like, don't put all your eggs in one basket and save for a rainy day. I think, if nothing else, that may be a rather, I would say, cautious person.”
Viral word-of-mouth launched Estée Lauder during the Great Depression
“This wasn't just word-of-mouth marketing. It was viral marketing before anyone had invented the term. And it would launch Estee Lauder Cosmetics during the most unlikely time imaginable. The Great Depression.”
Housel: Human reactions to greed and fear remain identical across history
“When you read about the Great Depression or the roaring 19 twenties, the details of what happened back then in terms of the kinds of businesses there were, the kinds of regulations there were, are obviously completely different than they are today. But the beh…”
Depression-era tankers surged in value from $50,000 to over $800,000 before WWII
“In some cases, now something that was just sitting there not only there was no charter on it, if you had to sell the ship to try to pay off your loan, maybe you'd get 50,000, a 100,000. Those now, those same ships are selling for 800,000 dollars or more.”
Purwar: 2020s Will Experience Climate-Induced Depression Similar to 1930s
“I was really interested in doing a PhD in economics on climate change induced financial depression, and I was working with Professor Gary Gordon in Yale, so I'm a Yale graduate in the master's program, and I really, really wanted to do that because I was obses…”
Evans: The Great Depression Happened Due to Unregulated Money
“And so we regulate money in ways that we didn't in the twenties and thirties, which is why we had a great depression because we didn't regulate money.”
Ackman: Pandemic will force corporate America away from aggressive leverage
“I do think this is a depression era moment in the sense, psychologically, the same way that the generation of people that went through the depression thought very different about, differently about financial leverage, you know, than the generations that came a…”
Yanowitz: COVID-19 is the greatest financial crisis since the Great Depression
“This is the greatest financial crisis that we've seen since the great depression.”
Deeter: The 2020 market crash is the fastest 30% decline in history
“This by contrast is the fastest 30% plus decline by the broad market in history. I mean, this beats the great depression, the oh, wait, the dot com, et cetera.”
Madden: Father capped business upside due to Great Depression fear
“Yes, my dad was, but you know, he grew up in the depression, and you know, he was very limited, filled with fear because he had seen so much poverty. So his, he sort of capped his upside.”