Comments by "Kasumi Rina" (@KasumiRINA) on "The 1929 Stock Market Crash - Black Thursday - Extra History" video.

  1. It's called the Dutch disease; named after Netherlands discovering a huge gas field and focusing its exports on fossil fuel, to detriment of other sectors – which backfired when fossil fuel prices collapsed, but as you know, oil & gas consumption now is so high it totally won't crash 300 percent in one day and go into negative price... >_> YEAH... now russia, which has somewhere around 80% of their exports in oil and gas, has to literally burn fuel for nothing with giant torches as they're too poor to pay other countries to keep their low quality mix – and since they literally lived off fuel exports alone, they don't even have enough tech to develop equipment that temporarily stop the production to resume it later. Imagine having your economy completely dependent on two resources and take faith in their prices staying high so much, you don't even invest in equipment to develop them, things like tankers to hold extraneous oil, or ships that can build pipelines – russians don't have those. They literally just dug a hole in the ground in Cold War era and lived off that.
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  2. Thankfully for brokers, now they have a guaranteed investment in oil, I mean, it's not like it can drop 300% overnight and get into negative price, right?!
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