1929 Stock Market Crash and the Great Depression - (Documentary)

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  • Published on:  Friday, July 6, 2018
  • Brief History of that other economic designed crash of 1929BBC documentaryOn October 29, 1929, Black Tuesday hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression (1929-39), the deepest and longest-lasting economic downturn in the history of the Western industrialized world up to that time.1929 Stock Market CrashDuring the 1920s, the U.S. stock market underwent rapid expansion, reaching its peak in August 1929, after a period of wild speculation. By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the eventual market collapse were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.Stock prices began to decline in September and early October 1929, and on October 18 the fall began. Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded. Investment companies and leading bankers attempted to stabilize the market by buying up great blocks of stock, producing a moderate rally on Friday. On Monday, however, the storm broke anew, and the market went into free fall. Black Monday was followed by Black Tuesday (October 29), in which stock prices collapsed completely and 16,410,030 shares were traded on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors, and stock tickers ran hours behind because the machinery could not handle the tremendous volume of trading.1929 Stock Market Crash and the Great DepressionAfter October 29, 1929, stock prices had nowhere to go but up, so there was considerable recovery during succeeding weeks. Overall, however, prices continued to drop as the United States slumped into the Great Depression, and by 1932 stocks were worth only about 20 percent of their value in the summer of 1929. The stock market crash of 1929 was not the sole cause of the Great Depression, but it did act to accelerate the global economic collapse of which it was also a symptom. By 1933, nearly half of America’s banks had failed, and unemployment was approaching 15 million people, or 30 percent of the workforce.Trading StrategiesLive Trade CoachingBinary OptionsCFD'sFuturesEquitiesCommoditiesFX
  • Source: https://youtu.be/qlSxPouPCIM
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Comment

  • never mind

     1 months ago

    Gambling with borrowed money? What could possibly go wrong? Duh.

  • Meow

     2 days ago

    Been there, done that. Greed can be as addictive as cocaine.

  • James D Robertson

     12 days ago

    @zionram such as...? Or do you mean the "hands off the market" policy and the reluctance to investigate insider trading and corruption policy that even president Coolidge benefitted from?

  • Asim Malik

     2 days ago

    Financial institution should always be regulated regardless of what country it is. So we could not go around blaming the Rothschild family or other elites, who saw our greed & took advantage of us! I LOVE YOU CANADA

  • Crypto Chiefs

     1 months ago

    The modern depression is already here, but they learned to print money to prop up the market to make people think everything is ok.

  • XRPacific

     9 hours ago

    Cut those trees!!! 😂

  • Rodolfo Netto

     yesterday

    The US has been printing money since Breton Woods. For 30 years no one knew, but since the 70s everybody knows. You're the only country that can print money, import and have no inflation.

  • Raheel Akhtar

     28 days ago

    “Buy now pay later”. 1919. So in a 100 years we haven’t learned anything! 🤔

  • Me Me

     1 months ago

    This is some scary stuff. I see this happening again.

  • Majin Mist

     8 days ago

    2008

  • tom tesoro

     13 days ago

    WELCOME TO PRIMITIVE CAPITALISM! ( Neo-liberalism IS 'primitive capitalism' ). ASK THE QUESTION... 'WHO' sold first and made money?

  • Oldfogey Oldfogey

     1 months ago

    A million dollars in 1929 must have worth quite a sum. If you can't live off it, then I can't feel sorry for them. Serves them right.

  • John Lopez

     a months ago

    Hooverville’s are already everywhere here in California.

  • Faizan A

     16 days ago

    @Bryce Johnson How is it the "best economy in history"? You must be completely retarded to think the economy right now is doing good, let alone the best in history. Holy shit.

  • A Novi

     23 days ago

    Meanwhile in the Soviet Union at this time millions were being starved through socialism and collectivism, being practiced over the dead bodies of its citizens. You were still better off in a capitalist depression than a socialist boom. Believe me my father was there in a Soviet gulag.

  • hike oganessian

     8 days ago

    it had nothing to do with the system...the leaders were evil...the human ego will corrupt any system, as it is ours right now in good ole USA...to A Novi

  • alinv75

     10 days ago

    I agree.

  • Thomas Sowell

     1 months ago

    When are people ever going to understand it is all part of a large Ponzi Scheme that benefits the top 1% and propped up by the Central Banks.

  • Cody Polar

     8 days ago

    @ACME JetPack Response of the year! Kudos!

  • Cody Polar

     8 days ago

    @Thomas Sowell Tomorrow, or the next day, I'm sure ;) /s

  • Bones_XRP

     1 months ago

    publicly traded markets are just a long-term game of who can steal the most money.