Great Depression of 1929 - part V

The last part of pictures regarding the Great Depression concerns the actual beginning of the crisis. Massive speculation preceded stock market crash on Wall Street. Just before the collapse, economist Irving Fisher famously stated, "Stock prices have reached what looks like a permanently high plateau." As the optimism of the bull market shattered on Tuesday, October 29, he probably regretted those words. Almost all share prices on the New York Stock Exchange took a sharp dive. Several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor, determining that strong buy activity on leading blue chip stocks (U.S. Steel) could ease the panic. Most notable authority was the legendary J.P. Morgan. That action proved only a quick fix which lasted a day. The fall actually continued at an unprecedented rate for a full month. Investors began to despair, some even to the measure of taking their own lives. Others became crazy with euphoria and even tried gathering more money believing the crisis will be short. Read more about the stock market crash of 1929 here. You can also watch a documentary on Youtube of the ordinary people stories during the crisis, first part covering the circumstances of the Great Depression and the second part showing the hardship and the American culture of the period. Warning, some pictures are quite graphic. 

1 komentar:

  1. BREAKING NEWS: USD Currency Collapse

    China Causes The USD To Fall?

    USD Dollar Drops 50% In Value Overnight?

    Hey there

    I don’t know you have heard this yet…

    But the USD Dollar is on the verge of collapse.

    In fact since 1973 it’s been on a downward trend…


    USD national debt is at an all time high and now financial experts are saying that China is starting to sell their debt holdings to the secondary market.

    This means it won’t be too long until the USD crumbles in value!

    >>Watch This Video To Learn More<<

    I don’t want to be the bringer of bad news, but this is seriously not good for the US since we already have domestic problems of our own, such as immigration and unemployment.

    Our economy can not withstand another hit.

    This time the USD might actually collapse.

    >>Watch This Video To Learn More<<

    Make sure you watch it before it’s taken offline.

    Speak soon.

    [Mr Mark Fidelman]