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Wall Street Crash - 1929
Transcript of Wall Street Crash - 1929
Stock prices kept on increasing, allowing your original investment to become more valuable.
You didn't need to have a lot of money to get into the market.
You could buy on margin( first you would have to borrow the money to buy the stock, then you put the stock as collateral for your loan).
In 1929, many people were buying on margin that they went and dug themselves into a hole of six billion dollars of debt.
On September 3,1929 the market dropped sharply only to rise then fall again.
On October 24, 1929, ( Black Thursday), selling orders began to overwhelm the exchanges ability to keep up with all of the transactions. Why did the Wall Street Crash happen? When and Where did the Wall Street Crash happen? 12 million people were out of work.
12,000 people began to be unemployed everyday.
1616 banks had gone bankrupt.
1 in 20 framers were evicted from their land.
Economy shrunk by a third.
U.S banking systems seized up.
23,000 people committed suicide in one year. Impact of the Wall Street Crash
1929 Financial markets, banks and economy are all interlinked if any unresolved problems are to occur in one sector it can easily be advised by another sector.
Active and rapid government interventions are needed to help release pressure on the economy.
There is a greater chance of this reoccurring during re-election time, and possibly if another war occurs.
The banks and government and the world in general need to keep up with the latest technology and constantly check up on and research how and what they are doing. Lesson's Learned because of the
Wall Street Crash By: Venessa Fazio & Anna Lisa Balenzano Federal reserve raised interest rates many times in attempts to over heat the economy and stock market.
Margin investors were being decimated as a large number of stock investors tried to liquidate their shares.
Millionaire margin investors went bankrupt.
Banks had invested their deposits in the stock market, causing these banks to lose their depositors savings as the stock plunged.
Lax regulations and few rules were put in place on trading. The Wall Street Crash occurred on October 29,1929; in New York, USA What Happened? After World War One, the worlds economy boosted.
The "Roaring Twenties" was also known as the "Economic Boom".
The stock markets began to reach a peak by the end of August 1929.
In late September the prices began to decline.
The stock market began to fall drastically.
By " Black Thursday" shares reached a record of $12,894,650 of shares traded.
October 29, 1929 , $16,000,000 shares were sold and prices on stocks completely collapsed. How was the Wall Street Crash resolved? To stop suffering from the Great Depression caused by the Wall Street Crash individuals were offered government jobs, welfare and mortgage protection.
The main resolution was the onset of World War two.
United States government recruited all men and women and they were pulled back into the work force.
The U.S. government also was borrowing half of the money needed to finance the war, while the other half was raised through taxes. What Happened? You had to rely on peoples words on the market because there were no graphs internet or articles to view.
Going into the market was always a rick because there were no market graph trends.
You had no choice but to put all of your trust and value the opinions of the marketers. How Technology and Communication affected the Wall Street Crash References
BBC NEWS | Business | Lessons from the 1929 stock market crash. (n.d.). BBC News - Home. Retrieved September 30, 2012, from http://news.bbc.co.uk/2/hi/business/7656949.stm
Glossary of Events: Wa. (n.d.). Marxists Internet Archive. Retrieved September 28, 2012, from http://www.marxists.org/glossary/events/w/a.htm
Lancaster, R. (n.d.). BLACK TUESDAY OCTOBER 29th 1929 REVISITED. Gold-Eagle. Retrieved September 30, 2012, from http://www.gold-eagle.com/editorials_02/lancaster102102.html
The Wall Street Crash. (n.d.). EyeWitness to History - history through the eyes of those who lived it. Retrieved September 30, 2012, from http://www.eyewitnesstohistory.com/snpmech5.html
n/a, avjoseph. Lets Work Together. N.d. n/a, n/a. http://workwithantoine.com/?attachment_id=39. Web. 28 Sept. 2012.
n/a, n/a. Wall Street Crash. N.d. n/a, United States. http://www.lordprice.co.uk/WOFI1007.html. Web. 28 Sept. 2012.
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