The Disaster That Hurt Millions

October 29, 1929, what would later be known as “Black Tuesday,” was the day that the stock market crashed and The Great Depression started. The stock market prices had continually gone up and up to a point where there was no possible way that businesses were going to make that much in their future earnings. Investors began to sell their stocks in large quantities. Around 16 million shares were sold just on “Black Tuesday”. Because of this, millions of shares ended up becoming worthless. Those investors who had bought their stocks on margin ended up becoming completely wiped out because of this day. Personal investors were not the only people to invest in the stock market; banks also did. Banks inve...

The Stock Market Crash of 1929 in America was a influential crash in the market that began in 1929 after what was known as the Roaring Twenties. During the Roaring Twenties the Dow stock soared and numerous investors bought shares of stock and thought that it was a very safe place to put their money. Dow Jones showed great promise from 1921-1929 as many investors became millionaires. Investors soon irrationally invested their life savings and mortgaged their homes to put the money into hot stocks. People began borrowing and spending too much money and never paying it back. There are myths during this time of people jumping from building windows committing suicide. Foolish investing, irrational spending and bank

The stock market crash of 1929 is the primary event that led to the collapse of stability in the nation and ultimately paved the road to the Great Depression. The crash was a wide range of causes that varied throughout the prosperous times of the 1920’s. There were consumers buying on margin, too much faith in businesses and government, and most felt there were large expansions in the stock market. Because of all these...

A result of the Stock Market Crash of 1929 was many, many bank failures. These banks failed because, the Stock Market Crash of 1929 was the cause of debt and poverty for many people. People had no money to pay back the banks, and no money to deposit into the banks. Whatever money was left in the banks got withdrawn because people were afraid that they would lose it, just like others lost all their money to the market crash. By 1933, 11,000 of America’s 25,000 banks had closed and weren’t in existence

The Stock Market Crash of 1929 devastated the economy and was a key factor in beginning the

During the 20s, the economy of the US was rising at such a steady pace, that many were able to gain from the era known as the Booming Twenties. One major industry that brought many Americans to have a pleasant comfortable life was in playing the stock market. 9 million Americans invested in the market, which made quick profits, but with money borrowed. Stock buyers were naïve and believed the bull marketing will still continue to increase, but Federal Reserve warns the people of an economic distress will occur soon. Of course, no one listens as they continue to swim in their money. On October 24, 1929, shareholders panicked as they rushed to sell their stocks and led to the downfall of the stocks.

The stock market crashed in October of 1929. Also known as ‘Black Tuesday’ this crashed deleted the value of all paper stocks. A lot of people lost their life savings and unemployment rose to a rate of 25%. Although The Depression happened here in the United States, many counties world-wide were affected as they relied heavenly on companies that exported their goods from America.

October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.

By 1933, the country's GNP had fallen to barely half its 1929 level. Industrial production fell by more than half, and construction of new industrial plants fell by more than 90%. Production of automobiles dropped by two-thirds; steel plants operated at 12% of capacity. During Herbert Hoover’s presidency, more than 13 million Americans lost their jobs. Unemployment capped at 24.1% in 1933, and did not drop below 14.3% until World War II. The financial meltdown initiated by Wall Street's Great Crash of 1929 caused billions of dollars in assets to vanish. Wealthy Americans – who owned almost all the nation's stocks at the time – were struck by an 80% decline in the...

Beginning on Black Tuesday, October 29th, 1929, a total of 14 billion dollars was lost in America’s economy. Near the end of the week the 14 billion turned into a total of 30 billion dollars (The Great Depression Facts). Many events during the Stock Market Crash caused damage to the economy and lifestyle of the country, ending with recuperations from The Depression.