Francis Explains The Great Depression To An Absolute Buffoon

Barstool Sports

Dana B | Dana Learns

Transcript

00:00Dana. Hey, buddy. Look at you sitting on a

00:04industrially reinforced chair.

00:07I am just saying that because we had to replace the rickety chair that wasn't able to support your weight. Yeah, that happens.

00:13There you go.

00:17I don't believe it. Speaking of things that break,

00:21every once in a while the United States economy

00:25can suffer a crash similar to your chairs.

00:28Yes, it does. And probably the most famous one of all time is the Great Depression. Yes.

00:361910s. The stock market crashed and a lot of people lost a ton of money. Sounds horrendous.

00:42You ever heard of the Roaring Twenties? Oh, yeah. People going in the fucking, what are they called, the

00:48places you can't be? Speakeasy. Yes. Yeah. Yeah. You would have done well in the 1920s. If you're telling me

00:54I'd be good at getting fucked up, you're right. They drank a lot of champagne at those parties.

00:58I'll drink, I'll drink any. And you would have had the bottle in your hand. Yeah.

01:02You'd be wet. You'd be wet after every party. In a tuxedo with your bowtie hanging loose.

01:08I'm at the point where my boxers, they're permanently

01:12flapped over. A period of such excess and revelry

01:16was sure to come to a violent end. A violent halt. And that happened in 1929, the end of the Roaring Twenties

01:25after which the U.S. economy sank. Gross domestic product in the United States shrank by a third from

01:321929 to 1933.

01:34A whole lot of big words.

01:36Well, GDP, right, is the typical measure of economy. Why didn't you just say GDP? I know GDP. That's what gross domestic product is.

01:44Yeah, you could have just said GDP. Do you know what GDP is? No, but I know the

01:51acronym. Yeah. I know of it. Do you know what the difference is between a recession and a depression?

01:56I want to say a recession's like a little guy and depression's like, oh, we're in the dumps, buddy. I think that's okay.

02:02Yeah. I think there's one that's like huge contracting of the economy followed by stagflation.

02:09Stagflation is where

02:11money is devalued and prices go up. My buddy used to throw parties where you'd go to Petermannpalooza.

02:16It's like we're going to stagflation today. What's Peter? Oh, his party. He was a Peterman.

02:21Yeah, we just have seven straight days in my buddy's basement because his parents were away. Sure. Petermanpalooza.

02:26Do you want to learn these things?

02:30Sorry, sorry, sorry. Into the dark basements of your moron friends.

02:35I invited you to my bachelor party late,

02:37but I was thinking I would love for you to see where I came from. You did send me the invite and I really

02:43wanted to come. In fact, I was really hoping that I would be able to come.

02:46I would love for you to see the people I've surrounded myself with. I'm a chameleon. I can get along with people.

02:51Yeah, they would love you. You know, bring myself to your friend's level and oh,

02:58Dana's sticking the funnel up his butt again. Here, I'll pour the beer.

03:02Unemployment reached

03:0625% in America during the Great Depression. What is it now? Four. Oh shit.

03:10And I believe it was like people who wanted jobs and 25% of them could not get them.

03:16They say that the cause of the Great Depression was

03:20slowing consumer demand,

03:23rising consumer debt,

03:25the overly rapid expansion of the U.S. stock market, and

03:32decreased industrial production. Yeah. The result was

03:37widespread banking panic,

03:39unemployment, poverty, and a huge decrease in industrial production and global trade.

03:45Do you have any idea what helped us get out of the Great Depression? World War II. Bingo!

03:50Fucking suck my dick. The mobilization of America

03:56behind the war effort. So in reality,

04:00maybe the war was a good thing.

04:03Financially. You could argue that. Yes, because it created huge jobs.

04:07Oh, yeah. Rosie the Riveter. Women get behind the war effort. Is that the lady on the poster?

04:12She is. Is she real or is she a cartoon? She is a

04:17propaganda figure that was created. Figure, you mean? How do you say it? Figure.

04:22You know, you say so many things wrong that if you want to start this game, we will never get anywhere.

04:28You didn't answer my question. Is she a cartoon or is she real? Picture?

04:33No, she's a painted

04:35cartoon character. That's what I thought. She has red hair.

04:39No, she's wearing a red. Yeah, red bandana. Red bandana.

04:44Yeah, but she's got a wrench and she's, you know,

04:50What's that? An axe? No, no, it's like a homeless person. Oh, the hobo bag?

04:57No, again, I think you're kind of

05:00conflating her bandana with the fact that hobos used to wrap their goods in bandanas.

05:05I might be thinking of that guy that eats spinach.

05:07Popeye?

05:10Is that why you're asking whether Rosie's real or not?

05:17But his wife's name was Olive Oil, which is a butter substitute you've never cooked with.

05:27FDR initiates his new policies of the New Deal.

05:30You know, we start coming out of the Great Depression in 1939 as we start to

05:34mobilize for war. Who is the person that went in and actually started looking a little bit closer at the books of

05:44companies that were taking advantage of these blank check contracts from the government? Do you have any idea? Warren Buffett.

05:50I think Warren Buffett would have been like five. JFK?

05:54No, gotta go farther back.

05:58Taft?

06:00Nope.

06:02He's the bathtub guy.

06:04Roosevelt? Truman. Truman. Have you heard of the Truman Commission? No, God no. He

06:12started going around,

06:14quite physically going, to the

06:18construction sites and the companies that were creating all this stuff and

06:22finding

06:23crazy

06:25bullshit in their accounting of what they were making and lying and all this kind of corruption and really like

06:32hammering these companies and saying, you lied on your books, you owe this money back. And then he was so

06:39vigilant with his group that he created of the Truman Commission that

06:45companies actually got scared that he would come after them next and then they started fixing up their books.

06:50And it was on the strength of his success on the Truman Commission and what he did to clean up the war kind of spending

06:56that he

06:59built his name. All right, that's the Great Depression, brother. Nice and easy. Yeah, you got it. Appreciate it.

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