It's June 2022. Russia is at war with Ukraine, gasoline is $5 a gallon, the SP500 is down 24% from its peak, houses are most expensive than ever, and crypto is imploding before our eyes. Now more than ever those on the outside including everyday people are panicking. Worried about their 401ks, extreme inflation, and the stability of their jobs.

The financial markets seem to be headed for ruin and in today's video, we explore exactly that. Is this the big one, the massive depression this country hasn't experienced in over 100 years? Is it true that economic conditions far worse than 2008 await us? To truly explore these possibilities, it's necessary to take a step back and peak at a piece of incredibly important history.

Back in 1929, this country experienced something that scarred the minds of everyone who lived through it. An event so severe, so damaging to the country's physique it revolutionized policy, changed history, and traumatized an entire generation. Now because it occurred over 90 years ago the memories and lessons of this shocking era have long been forgotten and overshadowed by other historical events that have a more intense and concentrated storyline.

I'm talking about the 1929 crash that led to the great depression. An event that showcases what is possible on the other side of the spectrum. A situation that was so bad it devasted the country for decades. Instead of me summarizing it, I'll let Warren Buffet do it. During the 2020 annual Berkshire conference, he spent 20 minutes going over the Great Depression. The full clip is linked in the description below, but here is an important snippet that truly describes the event that changed finance forever.

80s inflation stat link
http://www.shadowstats.com

Buffett Full Video
   • Warren Buffett explains: The 1929 Gre...