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The Wall Street Crash of 1929 is often cited as the beginning of the Great Depression. It began on October 24, 1929, and kept going down until March 1933. It was the longest and most devastating stock market crash in the history of the United States. Much of the stock market crash can be attributed to exuberance and false expectations.
The Great Depression (1929–1939) was a severe global economic downturn that affected many countries across the world. It became evident after a sharp decline in stock prices in the United States, the largest economy in the world at the time, leading to a period of economic depression. [ 1 ] The economic contagion began around September 1929 ...
Throughout the industrial world, cities were devastated during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as the steel and automotive industries. Service-oriented cities were hurt less severely.
That's where America finds itself on the 80th anniversary of the Great Depression -- reacting to With the news that another devastating economic implosion may be nearing its end.
The Great Depression in a monetary view. In their 1963 book A Monetary History of the United States, 1867–1960, Milton Friedman and Anna Schwartz laid out their case for a different explanation of the Great Depression. Essentially, the Great Depression, in their view, was caused by the fall of the money supply.
The Wall Street Crash of 1929, also known as the Great Crash, Crash of '29, or Black Tuesday, [1] was a major American stock market crash that occurred in late 1929. It began in September, when share prices on the New York Stock Exchange (NYSE) collapsed, and ended in mid-November. The pivotal role of the 1920s' high-flying bull market and the ...
The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%. 25 vintage photos show how desperate and desolate ...
October–December. October 24: Wall Street Crash of 1929. October 11 – J. C. Penney opens Store #1252 in Milford, Delaware, making it a nationwide company with department stores in all 48 states. October 14 – The Philadelphia Athletics defeat the Chicago Cubs, 4 games to 1, to win their 4th World Series Title.