From our ‘Money and The Gold Standard’ episode and our ‘JP Morgan’ episode we talked about the crash of 1929 causing untold damage to US society and the ripples and effects of this economic downturn can still be felt today. Unemployment soared and wasn’t really remedied until WW2 came along to employ all those shiftless men of war faring age.
The circumstances around the collapse though, are very similar to the situation described in the JP Morgan episode and what was known as the Knickerbocker Crisis. The stock market in 1929 however was much more robust and as a result the failure was more catastrophic. We will be doing an episode specifically on this crash and the aftermath and the culpability of the so called ‘Robber BArons’ in the near future. In the mean time, enjoy the documentary and get ready for some more money talk!