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The Great Depression

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James Lewis

on 18 June 2010

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Transcript of The Great Depression

The Great Depression The Great Depression was started on October 26th 1929. This became known as Black Tuesday and the 80th Aniversary was Monday just gone. Black Tuesday was the worst of four bad days, Black Thursday, Black Friday and Black Monday aswell as the above stated. All were very bad days in the stock exchange. Before that Black Week the stock exhange was very turbulant with stocks being one day nearly lost and the next day at extreme hights. Before Black Thursday (Oct 24th, 1929) The Housing market in the US started declining and threw the Dow Jones (DJ), the US stock exchange, into chaos. Wall St is in New york, which is
in the US.
The Dow Jones is based in NY. On Black Thursday, Chaos had started in the Stock exchange. 12.9 MILLION trades happened, a record for the period. At 1pm the Heads of all the Major banks congegratted to try and sove the problem. They decided to try and bail out "blue chip" -Industrial buisnesses- As this had solved the problem in 1907. This worked tempoarily, providing a respite by halting the days sliding. Black Monday the repsite was finished, the weekend stopped nothing much. Investors decided that the market was to dangerous and started pulling out their investments. On Black Tuesday, 16 Million Stocks were traded -trading stocks is when someone buys or sells stocks, in this case selling was dominant.- The Traiding Floor of the stock exchange was in anarchy as people fought desperatley to retreive as much of their money as they could as companies stocks plummited by nearly -23% over the two days. A record loss. Newspaper reporting above
The Trading floor in chaos as people try to flog their stocks. The Rockerfeller Family and
other elites in the buisness
start buying stocks in large
quantities, trying to entice
investers back into the stock
exchange but fails....
The US Government fails to
implemement a bail out plan
and the Stock Market crashes
and closes. Even thought myths around the crash say
that 100's of stockbrokers commited
suicide, only 2 threw themselves off the roofs
of the Wall Street buildings. Anybody who retained
their stocks however did not break even until they
had gone throught nearly all there adult life. And so the Great Depression had begun, the stock exchange would be stable by January 1930. However would not be back to pre-1929 rates until 1954. I America money became tight, on black tuesday americans tried to take their funds out of the banks and in most cases failed and soon many banks were bust.

With this unemployment started
to rise and deepened the
depression However America was not the only country
effected. Germany was dependent on US loans
to keep the country running. No Money, No
Government. This led to the Nazi party taking
power in 1933. Sign; "Dilligent
young man seeks
work" The Austrailians had a fairly difficult time
their entire economy was based on their exports
and imports, so when people could not afford to buy or import anything. The Austrailians economy
crashed and unemployment rose. However WWII did wonders for most
countries In all countries involved
or at threat, as they all imposed
conscription and opened more work-
spaces for people to build war machines. In Death of a salesman as it is
written in 1949 we can assume that
the lomans have lived throught the
depression which would affect Willy's
lifestyle and work, doing damage to his
is trade.

The current economic status makes this
story fairly relevant as we are now going
through a tough patch of unemployment and
financial trouble. One could say History
has repeated it self.... And with it we
understand the issues the characters face
as it is happening around us.

Not that one suggests WWIII should happen
soon. However hard you look at it the
Depression helped the Loman's
American dream ideals, in that it
made men more equal, because old
corporte executives were now
rubbing shoulders with the lowly
stockbroker who worked so hard.
The odds were still uneven
howver, except men like Willy
did have a chance at the Dream.
Full transcript