134 - Lessons from the Great Depression

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 7 May 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Those who cannot remember the past are condemned to repeat it - or so the saying goes. This week, with the help of IG, we’re looking at what happened in the Great Depression and comparing it with Biden’s current economic approach to see if we’ve learned anything from the past economic cycles…

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Transcript

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0:00.0	This episode is brought to you by IG, the finance company.
0:04.9	What in the world is happening on Wall Street?
0:07.0	Economic indicators.
0:08.6	Who knows where this is going to end up?
0:10.6	To understand the economy, you have to understand human nature.
0:16.6	This podcast is powered by ACAST.
0:22.3	Mac. Mack.
0:23.8	John.
0:24.4	We've been talking recently about the Great Depression and new economic movements in the world
0:31.9	and the kind of a new American economy and new approach.
0:36.6	This week, let's take a big broad view of all these changes.
0:41.7	Okay.
0:42.1	How are they going to impact the markets, et cetera, et cetera.
0:46.7	But let's first of all start with the past, then we look at the present, and then heading
0:52.8	into the future.
0:54.4	So we've spoken about, as I say, the Great Depression a couple of times, but let's go back
0:59.8	into that and just explain what it was and what happened.
1:03.4	Yeah, where it came from and how it was handled.
1:06.4	Right, all right.
1:07.5	Well, the Great Depression, so just so people get a sense of what we're talking about
1:12.1	the years. Yeah. We're talking 1929 to 1936, the peak year probably of the Great Depression,
1:21.5	1933, a pivotal year, 1999, obviously, because that's when the financial market crashed,
	...

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