The Wall Street Crash of 1929

Please imagine that you are not eating enough during the day because you do not know if you have the meal waiting for you the next day. Imagine if people considered to be poor are falling from higher stature to deeper despair pockets. Imagine if you are poor, you will be hungry more and more. Amidst this weakness, you begin to realize that it is difficult to think clearly and function properly. Please imagine that you need to find a job to feed your family. But you can not concentrate on looking for work because you first need to find food to get energy.

The crash accident in Wall Street in 1929 was often thought of as the beginning of the Great Depression. It began on October 24, 1929 and was the most devastating stock market crash in America's history. Most stock market crash may be due to prosperity and false expectations. In the years before 1929, the rise in stock prices created enormous wealth for investors and urged them to purchase more shares through borrowing. However, on October 24th (black on Thursday), stock prices began to fall, panic sales led to a sharp price decline. Tuesday, 29th October, the stock price fell by 14 billion dollars a day, exceeding 30 billion this week. The amount of evaporation this week is 10 times the total federal budget and it exceeds the total amount spent by the United States during the First World War. By 1930, the value of the stock fell by 90%.

The fact of the influence of the First World War to America 29: The raging wealth and surplus of the 1920s suddenly ended at Wall Street crash in 1929. Black Tuesday or the collapse of Wall Street in 1929, also called stock market crash began at the end of October 1929 when the stock price began to decline. I lost $ 30 billion in two days. The accident destroyed many Americans and the Great Depression continued. The Great Depression affected the two classes and it was the biggest financial crisis for the country.