Great Depression DBQ On October 29, 1929, the stock market crashed and thousands of lives were changed and millions of dollars were lost. It came to be known as Black Tuesday, the day when the stock market dropped incredibly and life was never the same. On the 24th of October, the market dropped a little, but on the 29th, the market crashed completely. Americans were scared and in disbelief, so they rushed to the bank to claim their money before their life savings were gone forever.
The place to go get rich they called it. Wall Street had the biggest boom in the 1920s, which was influenced by the United States successful venture of World War One. This prosperity seemed to have no end but on October 29, 1929 (now known as black Tuesday) the American Stock Market crashed. This thus plunged the United States into the deepest economic depression the world had yet to witness. This depression began due to the stock market crash but other reasons such as the massive income inequality and the new American system of instalment buying set the course with ultimately lead the United States to The Great Depression.
The economy of the United States expanded greatly through the 1920 's reaching its climax in August 1929. By this point, production had already declined and unemployment was at an all-time high, leaving stocks to imitate their real value. During the stock market crash of 1929, better known as Black Tuesday, investors traded vast numbers of shares in a single day, causing billions of dollars to be lost and millions of investors to be eliminated. This "crash" signaled the beginning of a decade long Great Depression that would affect all Western industrialized nations; a crash that would later become known as one of the darkest, longest lasting, economic downturns in American history. People all around the world suffered greatly as personal income,
October 29, 1929, also known as Black Tuesday, is the day that led up to the Great Depression and caused despair for many Americans. With real estate being connected to the economy, whenever prices on real estate went up, the prices on stocks increased as well. Unfortunately, brokers were lending out so much money that there was more debt than the amount of currency that was circulating in the United States. When the market reached its peak it quickly took a turn and began to drop tremendously. Lead bankers arranged a meeting to come up with strategies to avoid a catastrophic event in the economy.
Imagine waking up on what seems to be a normal day. Just to find out that stock markets have crashed and all of your hard earned money is gone! Well, it happened. Thursday October 24, 1929 the Great Depression had begun. People lost nearly everything, lost jobs, lost the ability to do what they want when they want, and had to make major cutbacks.
A record 12.9 million shares were traded that day, known as “Black Thursday.” Five days later, on October 29 or “Black Tuesday,” some 16 million shares were traded after another wave of panic swept Wall Street. Millions of shares ended up worthless, and those investors who had bought stocks “on margin” (with borrowed money) were wiped out completely. As consumer confidence vanished in the wake of the stock market crash, the downturn in spending and investment led factories and other businesses to slow down production and begin firing their workers.
On October 29, 1929, the stock market crashed. That day has since been infamously nicknamed “Black Tuesday” and it is now recognized as having marked the beginning of the Great Depression. During the time that followed this unfortunate event, much in the economy began to fall apart. The Great Depression brought worldwide calamity. Businesses and banks failed, unemployment rates rose to excruciating levels, and confidence, along with drive, took a nosedive amongst the general population.
October 24th, 1929 the stock market crashed and the American world changed. This event is known as “Black Thursday". On Black Thursday, the banking system collapsed, and 25% of the labor force, around 12.8 million people at the time, became unemployed. “...prices and productivity levels had fallen 1/3 of their level in 1929.” With Americans having trouble finding work and the banking system struggling, people weren’t spending and saving money.
Several factors caused this recession to tumbled the economy into the Great Depression, but the crash of the stock market on October 29, 1929 marked the beginning (Murrin et al., 2012). This catastrophic day in history is known as Black Tuesday. The stock market saw billions of dollars lost as stock values dwindled. However, the surrounding factors involved in the cause of this stock market crash devastated the economy but a series of other instances helped to continue the economy to plummet.
Black Tuesday was the last day of the Stock Market Crash, it occurred on October 29, 1929. During the first couple of days within the crash, investors lost $30 billion. Afterwards, stock prices began to fall, in today’s terms, $1.3 trillion vanished from America’s economy. Because of Black Tuesday, the Great Depression began, Black Tuesday was caused by investors trying to trick the Stock Market. Stock prices were shown on a weird tape machine and was printed on paper, on Black Tuesday prices began to drop which led to people being confused or scared, later people found out that the weird tape machine could not keep up with the stock prices dropping.
When people heard what was happening they all went straight to the bank and withdrew all their money. The banks were overwhelmed; They had all of their customers withdrawing money and none of them looked to pay off the loans that they still owned them for. With Farmers crops and profit going belly up there was nothing left to pay of the loans with. Black Thursday was a very scary time for many people and their families. "
People began selling what they had for what they could get out of it. By Tuesday the 29th, Black Tuesday, banks were calling in loans due to complete collapse of the stocks. By mid-November, 30 billion in stocks completely evaporated. President Hoover told the nation that this was temporary and to maintain confidence in the U.S. economy to recover very quickly.
The Great Depression was a prodigious event that affected every citizen of America in the time period of 1929-1939. At this time, citizens were left unemployed and hungry but had little to no money to spend on food or supporting their family. This event occurred because of the stock market crash of 1929. On the 24th of October in 1929 the stock market bursted and investor began dumping immense shares. This began the start of “Black Thursday” where investor’s stocks “on margin” were wiped out.
The average American was normally out buying automobiles or appliances. Most purchases were credit. Next the inequalities between rich and poor. On Black Tuesday, October 29, 1929 the New York stock market crashed, triggering the Great Depression to happen. Next Herbert Hoover.
There began to be a gradual decline in prices and the stock market ruptured. On October 24, 1929, the infamous “Black Thursday” took place, where stock holders went on a panic selling spree. Things then went from bad to worse, stock prices went down 33 percent. People stopped purchasing goods and business investments decreased after the crash. In the fall of 1930, the first of four major waves
