Black Thursday: The Three Days That Broke American Capitalism
カートのアイテムが多すぎます
ご購入は五十タイトルがカートに入っている場合のみです。
カートに追加できませんでした。
しばらく経ってから再度お試しください。
ウィッシュリストに追加できませんでした。
しばらく経ってから再度お試しください。
ほしい物リストの削除に失敗しました。
しばらく経ってから再度お試しください。
ポッドキャストのフォローに失敗しました
ポッドキャストのフォロー解除に失敗しました
Black Thursday: The Three Days That Broke American Capitalism
-
ナレーター：
-
著者：
(00:00:38) The Machinery of Speculation
(00:02:35) Black Thursday, Black Monday, Black Tuesday
(00:03:28) The Federal Reserve's Fatal Contraction
(00:05:12) Deflation and the Debt Trap
(00:06:59) Roosevelt, the New Deal, and the Regulatory Revolution
(00:08:58) The Eight-Year Wait
(00:09:43) 2008 and the Return of Familiar Patterns
(00:11:58) What the Crash Still Tells Us
On the morning of October 24, 1929, sell orders arrived faster than clerks could process them. Within hours, nearly thirteen million shares had changed hands and the financial architecture of the 1920s had begun to crack. Black Thursday was only the opening act. By the time Black Tuesday closed on October 29th, sixteen million shares had traded in a single session and billions in paper wealth had ceased to exist.
This episode unpacks the machinery that made the crash possible — and inevitable. Ordinary Americans had flooded into the market on margin, borrowing nine dollars for every one they owned, creating a self-reinforcing liquidation spiral the moment prices turned. Bucket shops had seeded a culture of leveraged gambling. Charles Merrill had warned his clients as early as 1928 to reduce exposure. Almost nobody listened.
But the crash itself didn't cause the Great Depression. What turned a financial crisis into a decade-long catastrophe was the Federal Reserve's decision to contract the money supply by thirty-one percent between 1929 and 1933 — precisely when the economy needed liquidity. Ten thousand bank suspensions erased ninety-two percent of the money supply, which existed only as deposits. When the banks failed, the money simply stopped existing.
Deflation then made everything worse. Prices fell twenty-five percent in aggregate, meaning every dollar of debt became twenty-five percent heavier in real terms. Farmers, businesses, and households found their revenues collapsing while their obligations held rigid — a debt trap that paralysed the economy for years.
This is the chapter where the numbers stop being abstract and the human cost comes into focus.
This episode includes AI-generated content.
adbl_web_anon_alc_button_suppression_t1
まだレビューはありません