The Crash of 1929 - Could it Happen Again

Despite a serious amount of times our stock market and economy has trended downward the crash of 1929 is still the worst and most devastating one in our history. This was a huge event in American history and led to the Great Depression. It’s first important to look at the time around when the stock market collapse because we were in what it was called the roaring 20s and everything was looking very promising. Americans and patriotism was that all time high. America was feeling very powerful after World War I because they were such a huge help and becoming the worlds best country. So everything was looking good for them and that’s why it was so surprising the crash of 1929 would come so soon and be so devastating.

It all started with what is called the black days October 24 and October 25 are now known as Black Thursday and Black Friday. The New York Stock Exchange watched as 13 million shares traded hands and furious panic between stock brokers and others. The market lost $14 billion and the crash Was severe but the aftershocks were way more damaging than anybody could’ve expected. All this money was lost in soon bank after bank begin to fail and people would be losing all their life savings. On the worst day of the crash the Dow Jones lost 13% but throughout the following years of the depression it said 89% of its pre-crash high. The word cast is used for market downturns that are studying in harsh but the great crash of 1929 refers to more than three years of economic misery for the American people. Of course there is always a possibility that this may happen again but thanks to our government and asked learning from our history we will do anything to prevent it as much as we can.
Recently we had a market downturn in 2008 but that still will never be as bad as the crash of 1929 and we got out of it within a couple years and were all good today.




http://cdn.history.com/sites/2/2013/11/stock-market-crash-of-1929-newspaper-H.jpeg