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Re: BlueAlien post# 165

Wednesday, 03/22/2017 6:26:29 PM

Wednesday, March 22, 2017 6:26:29 PM

Post# of 196
Great Depression ~ Wall Street Crash of 1929

The Wall Street Crash of 1929, also known as Black Tuesday (October 29),[1] the Great Crash, or the Stock Market Crash of 1929, began on October 24, 1929 ("Black Thursday"), and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects.[2] The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the 10-year Great Depression that affected all Western industrialized countries.

Despite the dangers of speculation, many believed that the stock market would continue to rise forever

The crash followed a speculative boom that had taken hold in the late 1920s.

Iron and steel led the way with doubled gains.

Such figures set up a crescendo of stock-exchange speculation which had led hundreds of thousands of Americans to invest heavily in the stock market.

The rising share prices encouraged more people to invest; people hoped the share prices would rise further. Speculation thus fueled further rises and created an economic bubble.

The Great Crash of 1929 propelled gold, a historically viable store of value and durable medium of exchange, to unprecedented value.

The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic debate—historical, economic, and political—from its aftermath until the present day.

https://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929

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