The Forgotten Depression of 1921 | James Grant | Talks at Google

The Forgotten Depression tells of the slump of 1920-21: high unemployment, collapse in commodity prices, upsurge in bankruptcies and sharp break in stock prices. Unlike the Great Depression, the 1920 affair was over in 18 months. What explains its brevity? James Grant is founder of Grant’s Interest Rate Observer and has appeared in The WSJ, Claremont Review of Books, and Foreign Affairs, as well as on TV on Sixty Minutes, Charlie Rose and Wall Street Week.

Пікірлер: 78

  • @invisibleaznDJ
    @invisibleaznDJ8 жыл бұрын

    Wow awesome. Jim Grant is briliant. surprised Google would have an Austrian economist on.

  • @tubejim101

    @tubejim101

    8 жыл бұрын

    +invisibleaznDJ lol. Was thinking the same thing.

  • @ChristianGruber

    @ChristianGruber

    8 жыл бұрын

    Austrians at Google. There are literally dozens of us! ;)

  • @cmhardin37

    @cmhardin37

    6 жыл бұрын

    Christian Gruber I hope you're kidding.

  • @zg-it

    @zg-it

    2 жыл бұрын

    I'm amazed as well. Especially now in 2021 that this is still up.

  • @TwoGrainsOfGold

    @TwoGrainsOfGold

    2 жыл бұрын

    @@zg-it same! I’m shocked too. Likely this is before Google became the Gulag lol

  • @jccusell
    @jccusell8 жыл бұрын

    Wait what? The geniuses at Google actually invited an Austrian economist? ... Maybe there is hope for reason after all.

  • @zachsquach

    @zachsquach

    6 жыл бұрын

    One could hope cool to see

  • @KingwoodStudios

    @KingwoodStudios

    3 жыл бұрын

    I don't think they understood who they invited. And probably have never heard of Austrian Economics.

  • @sislertx

    @sislertx

    Жыл бұрын

    Mistakes happen..

  • @muradtalukdar4401
    @muradtalukdar44017 жыл бұрын

    This man is a true scholar and something of a poet.

  • @at7828
    @at78285 жыл бұрын

    Jim is brilliant. Just brilliant.

  • @kawscottyoung
    @kawscottyoung8 жыл бұрын

    I have never experienced central banking laid out as clear. Illuminating. It is time to make the effort to understand and act.

  • @jhimelic
    @jhimelic3 жыл бұрын

    given where we are today (Mar 2021), the poetic justice of saurabh's story to start this talk is nothing less than fitting

  • @jccusell
    @jccusell8 жыл бұрын

    2,2 million views for the Lady Gaga and Conan talks, 8 thousand this one. That should be a crime.

  • @The20_er

    @The20_er

    5 жыл бұрын

    @Ludwig Beethoven comments like this are naive,, lady gaga has a different audience then Jim grant lol. I highly doubt the people who listen to gaga are interested about economic recessions, booms, interest rates, unemployment etc lol

  • @ceotype6

    @ceotype6

    4 жыл бұрын

    @@The20_er I listen to lady gaga

  • @Stocksnowball
    @Stocksnowball7 жыл бұрын

    Great Book, Jim Grant is always great to listen to.

  • @sislertx

    @sislertx

    Жыл бұрын

    Hardly..he is very difficult to.listen to but important ...very very. He is the type that also accidently says things that he had no idea he exposed.

  • @alhamilton3839
    @alhamilton38397 жыл бұрын

    he actually predicted the outcome of the world series - impressive

  • @peterponcedeleon3368
    @peterponcedeleon33688 ай бұрын

    James Grant is a gem. Unfortunately, the voices of wisdom are usually crowded out by the emotional crowds.

  • @kawscottyoung
    @kawscottyoung8 жыл бұрын

    Jim Grant for Vice President now, and Pres in 8 years.

  • @nbme-answers
    @nbme-answers5 жыл бұрын

    @46:45 is he teary-eyed at the end of his quote?? I'm moved and confused all at the same time. Wow. It's actually quite beautiful.

  • @MekonenMeteor123
    @MekonenMeteor123 Жыл бұрын

    I love how he offers no answer 😂 Brilliant 🎉

  • @lifealchemist11

    @lifealchemist11

    Жыл бұрын

    Answer was clear at 40:50

  • @peterponcedeleon3368

    @peterponcedeleon3368

    8 ай бұрын

    That’s the arrogance of man. Thinking that one must have the answer. The answer is in the natural state of, and this topic economics. You want to know the future. 23:35 you want to control the present. Which is why people like you never saw the financial crisis of 2008 when it was staring at us all.

  • @richardgreenhough
    @richardgreenhough Жыл бұрын

    Fabulous!

  • @richardclark2290
    @richardclark22907 жыл бұрын

    this is really interesting , how high were levels of debt in 1921? , what caused those levels of debt low interest rates post ww1 ?

  • @tomdonovan4842
    @tomdonovan4842 Жыл бұрын

    Well done

  • @MrPluspack
    @MrPluspack8 жыл бұрын

    Thank you google

  • @francisdudero5022
    @francisdudero50228 жыл бұрын

    I clicked because the thumbnail looks like Bill Nye but your as awesome too.

  • @cmhardin37

    @cmhardin37

    6 жыл бұрын

    francis dudero Bill Nye is a leftist nut job and not a scientist.

  • @maigematthews5620
    @maigematthews5620 Жыл бұрын

    Today, they are saying that the US Dollar is simply to big to fail. That’s what they said about the housing market, and then Commercial banks. So, my question is, what is the “Big Short” for speculating the US Dollar? BRICS? Curious & comedic minds would love to know. Thank you.

  • @trustyshellback
    @trustyshellback2 жыл бұрын

    Don't confuse "state capitalism" with free enterprise. These two paradigms are mutually exclusive in that state capitalism promotes collectivism, but free enterprise promotes individualism. 🔷🔷🔷🔷🔷🔷🔷🔷 "The strongest argument for free enterprise is that it prevents anybody from having too much power." [Milton Friedman] 🔷🔷🔷🔷🔷🔷🔷🔷 🇺🇸 Marc J. Metivier 🇺🇸

  • @escapefelicity2913
    @escapefelicity29137 жыл бұрын

    I guess google can't be bothered to fix the audio LOL

  • @warriorpoet4423
    @warriorpoet442319 күн бұрын

    all killer, no filler

  • @GoodmanMIke59
    @GoodmanMIke596 ай бұрын

    There was a judge who was asked to rule on a pornography versus free speech case.. in the process of adjudicating the law, he said he couldn't define pornography but he would know it when he saw it. Ditto that and theft via the Federal Reserve and other Central banks.

  • @Crasshopperrr
    @Crasshopperrr7 жыл бұрын

    4:40 I hope that by "a different kind of contribution" the esteemed speaker is referring to the atom bomb. 5:20 It's not so clear that progress in the physical sciences is cumulative either. Good papers are forgotten as TT string-theory jobs crowd out other approaches. Check physics professor job postings; it's not a beautiful world either.

  • @alphabravo3566
    @alphabravo35664 жыл бұрын

    James Grant at google talks? Im confused. Lol this is like watching Eisman interview at cnbc. Big LOL

  • @williamdaher1492
    @williamdaher14927 жыл бұрын

    bill nye? no. Clark Kent.

  • @ibraheemmoosa
    @ibraheemmoosa3 жыл бұрын

    I never understood why Gold should have so much value, when it has so little practical use.

  • @chadthundercock8277

    @chadthundercock8277

    3 жыл бұрын

    Little practical use? Look into gold man, we have dozens of uses for gold. Including the machine you used to type your comment.

  • @zg-it

    @zg-it

    2 жыл бұрын

    @@chadthundercock8277 That's exactly what I was thinking. He's got gold in the device he is using to tell us gold has no practical use.

  • @Videokeizah
    @Videokeizah7 жыл бұрын

    Either he bullshitted us by calculating the PV/earthling of 100 dollars in 50 BC, or he's a genius.

  • @kirillkhvenkin6001
    @kirillkhvenkin60018 жыл бұрын

    "imposing fixed exchange rates across the globe"???????????????????????????

  • @cosmo9287
    @cosmo92878 жыл бұрын

    Don't miss his video on Big Foot and the real JFK assassins.

  • @patscott8612
    @patscott86127 жыл бұрын

    Looks lie Sarek aka Harold Abrahams aka Ben Cross.

  • @pingukutepro
    @pingukutepro3 жыл бұрын

    He is awesome except for the green thingy on his neck.

  • @user-jc6tj2xt1p
    @user-jc6tj2xt1p4 жыл бұрын

    He looks like the guy in MadTV.

  • @LucVNO
    @LucVNO6 жыл бұрын

    Money is now, what it has always been, no matter if the tokens were wood, metal or paper. Its entries in a ledger at a bank. The ledger & token scam has been run for millennia now.

  • @KoushikSekhar
    @KoushikSekhar Жыл бұрын

    0:40

  • @danielsheehan6195
    @danielsheehan61957 жыл бұрын

    JIM GRANT... DID ANYONE SAY TOO SELF IMPORTANT..

  • @danielsheehan6195

    @danielsheehan6195

    7 жыл бұрын

    I TAKE THAT BACK... AFTER HIS TALK.. HE ANSWERED QUESTIONS GOOD COMMON SENSE AND HUMBLE PEASANT WISDOM.

  • @AmericanMoonOdysee_com
    @AmericanMoonOdysee_com Жыл бұрын

    Everyone loves James Grant, but .. ... To "fix" money to gold or as he says, relative to other international currencies - would be a "price control" which all Conservatives believe is flawed and wrong. And removes the price for money from the market. Markets being viewed as the best method of setting prices by all Conservatives and at least half of Dems. His own words elsewhere, interest rates are "better discovered in the marketplace than administered from on high", yet the value of money (which interest rates essentially define), he wants fixed from on high rather than discovered in the marketplace.

  • @nomenaumdisponivel
    @nomenaumdisponivel8 жыл бұрын

    He look like Bill Nye on steroids, freaking cool!

  • @GoodmanMIke59
    @GoodmanMIke596 ай бұрын

    That bow tie! Yikes

  • @julianh2167
    @julianh21673 жыл бұрын

    Austrian Bill Nye

  • @yeliangarcia4623
    @yeliangarcia46236 жыл бұрын

    Modern economists/neo-classical economists simply have no clue as to how the real economy works (it's a complex system!!! and it must be understood within the context of complexity theory!)

  • @williaminus6545
    @williaminus65453 жыл бұрын

    Forget this. He never gets to the subject of the 1920-1921 Depression that the Fed deliberately engineered.

  • @MrSammo1
    @MrSammo17 жыл бұрын

    The stealing periods that the ruling class pulled off from time to time has always fascinated me. But are not surprising. It's what a system based on stealing does! Blind faith in human abstractions though... can and will kill you!

  • @andrewblacklock630
    @andrewblacklock6306 жыл бұрын

    He gave no reasons and shallow evidence for his basis that "measured money" is superior to fiat. I keep seeking a good alturnive argument to Mondern Money Theory, but these guys keep simply stating that gold standard is better and they do not dive deep into the mechanics. The proponents of MMT go to great lengths to describe the system how it does work and how it should work. You come away really having learned somthing and a great mental conception of the ideas. If you know of someone that really dives deep into this stuff I will again try to understand.

  • @alphabravo3566

    @alphabravo3566

    4 жыл бұрын

    "Measured money" is able to control greed.

  • @chrishudson9525

    @chrishudson9525

    4 жыл бұрын

    He may not have, but history is littered with examples of ever expanding fiat money supplies going to zero, as governments try to print their ways to prosperity. So having a standard, using gold or what have you, is superior, as it keeps the money supply honest, and healthy, and not inflated into Zimbabwe bucks. And the proponents of MMT live in a fantasy land. MMT works up until the point that it can't, because it's destroyed the money supply.

  • @tobecontinued5933

    @tobecontinued5933

    3 жыл бұрын

    Every MMT ends by Zimbabwe or Weimar Republic...

  • @cryptoboots962
    @cryptoboots9625 жыл бұрын

    Man, this guy might have a wealth of knowledge, but painful to sit and listen to.

  • @kusari86

    @kusari86

    5 жыл бұрын

    Check out Thomas E Woods talk on the same subject. One of my favorite public speakers on econ. kzread.info/dash/bejne/la6Xt8-no9PYgaw.html

  • @ddstar
    @ddstar7 жыл бұрын

    Very intelligent person. However, very dry and boring character.

  • @Dabhach1
    @Dabhach18 жыл бұрын

    Jim, for God's sake, you were about 20 minutes in before you even started to get to the point. Take some acting classes, get a good script writers, whatever, but learn to put yourself out there a bit better.

  • @sbacon92
    @sbacon924 жыл бұрын

    I'm sorry. this guy is shopping at sears boy's department. i can't take this serious.

  • @kirstinstrand6292

    @kirstinstrand6292

    4 жыл бұрын

    nowew. You must represent the new social media's wisdom and knowledge.

  • @kirstinstrand6292

    @kirstinstrand6292

    4 жыл бұрын

    I'll be one of the first to agree that he should hire someone to dress him, however, i do not like being shallow and I at least know who Jim Grant is.

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