21. Great Depression - Wikipedia, The Free Encyclopedia The Great depression can refer to the economic event, but it can also refer to the Major theories proposed include the stock market crash of 1929, http://en.wikipedia.org/wiki/Great_Depression

Great Depression From Wikipedia, the free encyclopedia. This article needs to be cleaned up to conform to a higher standard of quality. This article has been tagged since September 2005. See How to Edit and Style and How-to for help, or this article's talk page This article is about the worldwide economic crisis of the 1930s; for other uses of the term, see The Great Depression (disambiguation) The Great Depression was a massive global economic recession (or "depression") that ran from to approximately . It led to numerous bank failures, high unemployment , as well as dramatic drops in Gross Domestic Product (GDP) , industrial production, stock market share prices and virtually every other measure of economic growth. It is generally considered to have bottomed out in , but it was not until well after the end of World War II before such indicators as industrial production, share prices and global GDP surpassed their 1929 levels. What gave this downturn the name the "Great Depression" was that it was by far the largest sustained decline in industrial production and productivity in the century and a half for which economic records have been regularly kept, and the fact that its impact was felt throughout the entire industrialized world and their trading partners in less developed nations. The term Great Depression can refer to the economic event, but it can also refer to the cultural period, often called simply "The Depression", and to the political response to the economic events.

22. Great Depression - Wikipedia, The Free Encyclopedia (Redirected from crash of 1929). The Great depression was a massive global The Great depression can refer to the economic event, but it can also refer http://en.wikipedia.org/wiki/Crash_of_1929

Great Depression From Wikipedia, the free encyclopedia. (Redirected from Crash of 1929 This article needs to be cleaned up to conform to a higher standard of quality. This article has been tagged since September 2005. See How to Edit and Style and How-to for help, or this article's talk page This article is about the worldwide economic crisis of the 1930s; for other uses of the term, see The Great Depression (disambiguation) The Great Depression was a massive global economic recession (or "depression") that ran from to approximately . It led to numerous bank failures, high unemployment , as well as dramatic drops in Gross Domestic Product (GDP) , industrial production, stock market share prices and virtually every other measure of economic growth. It is generally considered to have bottomed out in , but it was not until well after the end of World War II before such indicators as industrial production, share prices and global GDP surpassed their 1929 levels. What gave this downturn the name the "Great Depression" was that it was by far the largest sustained decline in industrial production and productivity in the century and a half for which economic records have been regularly kept, and the fact that its impact was felt throughout the entire industrialized world and their trading partners in less developed nations. The term Great Depression can refer to the economic event, but it can also refer to the cultural period, often called simply "The Depression", and to the political response to the economic events.

23. The Crash Of 1929 The roots of the crash of 1929 are to be sought in the economic consequences In that holiday season of 1929 the Economist saw a depression from across http://www.tarpley.net/29crash.htm

Excerpted from AGAINST OLIGARCHY by Webster G. Tarpley PART 7 BRITISH FINANCIAL WARFARE: 1929; 1931- 33 HOW THE CITY OF LONDON CREATED THE GREAT DEPRESSION by Webster G. Tarpley December, 1996 T The ravaged post-war, post-Versailles world of the 1920's provides the main backdrop for the following considerations: The events leading to the Great Depression are all related to British economic warfare against the rest of the world, which mainly took the form of the attempt to restore a London- centered world monetary system incorporating the gold standard. The efforts of the British oligarchy in this regard were carried out by a clique of international central bankers dominated by Lord Montagu Norman of the Bank of England, assisted by his tools Benjamin Strong of the New York Federal Reserve Bank and Hjalmar Schacht of the German Reichsbank. This British-controlled gold standard proved to be a straightjacket for world economic development, somewhat along the lines of the deflationary Maastricht "convergence criteria" of the late 1990's. This depression was rendered far more severe and, most importantly, permanent, by the British default on gold payment in September, 1931. This British default, including all details of its timing and modalities, and also the subsequent British gambit of competitive devaluations, were deliberate measures of economic warfare on the part of the Bank of England. British actions amounted to the deliberate destruction of the pound sterling system, which was the only world monetary system in existence at that time. The collapse of world trade became irreversible. With deliberate prompting from the British, currency blocs emerged, with the clear implication that currency blocs like the German Reichsmark and the Japanese yen would soon have to go to war to obtain the oil and other natural resources that orderly world trade could no longer provide. In 1931, Norman engineered a disintegration by detonating the gold backing of the pound sterling.

24. Sliding Into The Great Depression The Great depression has central place in twentieth century economic history . The stock market crash of 1929 greatly added to economic uncertainty no http://econ161.berkeley.edu/TCEH/Slouch_Crash14.html

20 Century Created 2/3/1997 Go to Brad DeLong's Home Page Slouching Towards Utopia?: The Economic History of the Twentieth Century -XIV. The Great Crash and the Great Slump- J. Bradford DeLong University of California at Berkeley and NBER February 1997 The Great Depression in Outline The Great Crash Even a Panic Is Not All Together a Bad Thing Debt-Deflation Golden Fetters The Persistence of the Great Depression The Great Depression in Outline It is straightforward to narrate the slide of the world into the Great Depression. The 1920's saw a stock market boom in the U.S. as the result of general optimism: businessmen and economists believed that the newly-born Federal Reserve would stabilize the economy, and that the pace of technological progress guaranteed rapidly rising living standards and expanding markets. The U.S. Federal Reserve's attempts in 1928 and 1929 to raise interest rates to discourage stock speculation brought on an initial recession. Caught by surprise, firms cut back their own plans for further purchase of producer durable goods; firms making producer durables cut back production; out-of-work consumers and those who feared they might soon be out of work cut back purchases of consumer durables, and firms making consumer durables faced falling demand as well. Falls in pricesdeflationduring the Depression set in motion contractions in production which riggered additional falls in prices. With prices falling at ten percent per year, investors could calculate that they would earn less profit investing now than delaying investment until next year when their dollars would stretch ten percent further. Banking panics and the collapse of the world monetary system cast doubt on everyone's credit, and reinforced the belief that now was a time to watch and wait. The slide into the Depression, with increasing unemployment, falling production, and falling prices, continued throughout Herbert Hoover's Presidential term.

25. The World Depression The stock market crash that began on a black Friday in October 1929 and The depression of the thirties found the old economic world dying and the new http://mars.acnet.wnec.edu/~grempel/courses/wc2/lectures/depression.html

The Great Depression It was appropriate that the terrible economic slump of the 1930s started in the United States, to which Europe seemed to have surrendered economic leadership during the Great War and on which she had been dependent ever since. Stock Market Crash The stock market crash that began on a black Friday in October 1929 and deepened in the ensuing months had immediate repercussion in Europe. Indeed, even before this, the superheated boom in stock prices that marked the bull market of 1928 siphoned money from Europe. The pricking of the bubble sent shock waves throughout the world. Large exports of American capital had helped sustain Europe, besides providing an outlet for American surpluses of capital, during the 1920s. Investment in European bonds now contracted sharply and swiftly, as banks that were "caught short" with too many of their assets invested in securities desperately tried to raise money. By June 1930, the price of securities on Wall Street was about 20 percent, on average, of what it had been prior to the crash; between 1929 and 1932 the Dow-Jones average of industrial stock prices fell from a high of 381 to a low of 41! The American market for European imports also dropped sharply as the entire American economy went into shock; and, to compound trouble, congress insisted on passing a high tariff law in 1930, against the advice of almost all economists. Effective operation of the international economy required that the United States import goods to allow foreign governments to pay for American loans. Moreover, the raising of tariffs set off a chain reaction as every government tried to protect itself against an adverse trade balance leading to currency deterioration. The result was a drying up of world trade that further fueled the economic downturn. The Americans, additionally, continued to insist upon repayment of war debts, until finally in 1931 a general moratorium was declared. Well might Europeans complain of American blindness, but these events only exposed Europe's vulnerability.

26. Great Depression: Information From Answers.com Great depression, in US history, the severe economic crisis supposedly precipitatedby the US stockmarket crash of 1929. http://www.answers.com/topic/great-depression

showHide_TellMeAbout2('false'); Business Entertainment Games Health ... More... On this page: Encyclopedia History WordNet Wikipedia Mentioned In Or search: - The Web - Images - News - Blogs - Shopping Great Depression Encyclopedia Great Depression, in U.S. history, the severe economic crisis supposedly precipitated by the U.S. stock-market crash of 1929. Although it shared the basic characteristics of other such crises (see depression New Deal administration under President Franklin Delano Roosevelt did a great deal to mitigate the effects of the depression and, most importantly, to restore a sense of confidence to the American people. Yet it is generally agreed that complete business recovery was not achieved and unemployment ended until the government began to spend heavily for defense in the early 1940s. Bibliography See D. Wecter, The Age of the Great Depression (1948, repr. 1956); A. M. Schlesinger, Jr., The Crisis of the Old Order (1957); D. A. Shannon, ed., The Great Depression (1960); A. U. Romasco, The Poverty of Abundance (1965); G. Rees

27. Stock Market Crash: Information From Answers.com crash of 1929, stock market An enormous decrease in stock prices on the depression, Great (History), déjà vu (Psychology). incur economic collapse http://www.answers.com/topic/stock-market-crash

showHide_TellMeAbout2('false'); Business Entertainment Games Health ... More... On this page: History Wikipedia Mentioned In Or search: - The Web - Images - News - Blogs - Shopping stock market crash History Crash of 1929, stock market An enormous decrease in stock prices on the stock exchanges of Wall Street in late October 1929. This crash began the Great Depression Wikipedia stock market crash Black Monday (1987) on the Dow Jones A stock market crash is a sudden dramatic loss of value of shares of stock in corporations . Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles such as the dot-com boom. The most famous crash in , (known as Black Thursday ) when the Dow Jones Industrial Average dropped 50%, preceded the Great Depression . The succeeding years saw the Dow Jones drop a total of over 85%. Richard Armour, in his satirical American history book It All Started With Columbus , remarked that the 1929 crash occurred "near the corner of Dun and Bradstreet There was also a crash or "adjustment" on Monday October 19 , known in financial circles as Black Monday , when the Dow Jones lost 22% of its value in one day, bringing to an end a five-year bull run. The

28. Great Depression -- Facts, Info, And Encyclopedia Article The Great depression was the global economic slump that began in 1929 and Experts are beginning to believe that the stock market crash may not have http://www.absoluteastronomy.com/encyclopedia/g/gr/great_depression.htm

Great Depression [Categories: Great Depression, U.S. economic history] The Great Depression was the global economic slump that began in 1929 and bottomed in 1933. However, most of the remainder of the (The decade from 1930 to 1939) was spent recovering from the contraction, and it would be well after (A war between the Allies (Australia, Belgium, Bolivia, Brazil, Canada, China, Colombia, Costa Rica, Cuba, Czechoslovakia, Dominican Republic, El Salvador, Ethiopia, France, Greece, Guatemala, Haiti, Honduras, India, Iran, Iraq, Luxembourg, Mexico, Netherl) World War II when such indicators as industrial production, share prices and global GDP surpassed their 1929 peaks. The Great Depression can refer to the economic event, but it can also refer to the cultural period, often called simply "The Depression", and to the political response to the economic events. What gave the this downturn the name the "Great Depression" was that it is by far the largest sustained decline in industrial production and productivity from the century and a half where economic records have been kept with any regularity, and it reached virtually the entire industrialized world and their trading partners in peripheral nations. It led to massive bank failures, high unemployment, as well as dramatic drops in GDP, industrial production, share prices and virtually every other measure of economic growth. Causes of the Great Depression Main Article: (Click link for more info and facts about Causes of the Great Depression)

29. Stock Market Crash Of 1929 Learn about the Stock Market crash of 1929 and the Great depression. Jesse Livermore correctly forecasted the economic crisis and shorted. http://www.stock-market-crash.net/1929.htm

Stock Market Crash History Bear Market Forecasting Stock Market Crash! - The authority on the market crash phenomenon Home Site Map Blog News ... Bear Market Sites Stock Market Crash of 1929 As the Dow Jones Industrial Average soared, many investors quickly snapped up shares. Stocks were seen as extremely safe by most economists, due to the powerful economic boom. Investors soon purchased stock on margin . Margin is the borrowing of stock for the purpose of getting more leverage. For every dollar invested, a margin user would borrow 9 dollars worth of stock. Because of this leverage, if a stock went up 1%, the investor would make 10%! This also works the other way around, exaggerating even minor losses. If a stock drops too much, a margin holder could lose all of their money AND owe their broker money as well. By 1929, the Fed raised interest rates several times to cool the overheated stock market. By October, the bear market had commenced. On Thursday, October 24 1929, panic selling occurred as investors realized the stock boom had been an over inflated bubble . Margin investors were being decimated as every stock holder tried to liquidate, to no avail. Millionaire margin investors became bankrupt instantly, as the stock market crashed on October 28 th and 29 th. By November of 1929, the Dow sank from 400 to 145. In three days, the New York Stock Exchange erased over 5 billion dollars worth of share values! By the end of the 1929 stock market crash, 16 billion dollars had been shaved off stock capitalization.

30. CRASH The crash of 1929 and the depression. The Great Bull Market and the crash. Economic difficulties in Europe from WWI, reparations, debts, loans. http://www.sagehistory.net/twenties/Crash.htm

The Crash of 1929 and the Depression The Great Bull Market and the Crash. As more Americans began to invest in the stock market, often of very liberal credit terms, the markets went up. Artificially fueled by increased credit purchases, consumer businesses produced and sold more and more, and the stock market kept pace. But the market was overbuilt, credit was stretched thin, and when the crash came it came with a huge thud. When capital dried up, buying slowed down, businesses laid people off, further hurting consumer spending, and the economy spiraled downward to unimaginable depths. People who had never wanted for anything found themselves not only unemployed but unemployable. The situation was unprecedented, collectively and individually, and as the Depression worsened the country floundered and people surrendered to despair. The Stock Market: Before and After the Crash STOCK American Can General Electric Montgomery Ward Radio Corporation Westinghouse General Motors Anaconda Copper NOTE: Adjustments made for stock splits, etc. People and the Crash Eighteen months later, if your stock behaves like the ones above, it has tripled in value. If you are smart, you sell a portion of your stock, pay off the loan to your broker, pay off your mortgage, and you are still way ahead of the game. Many people were not that lucky.

31. Great Depression, The_Crash_of_'29, The Crash Of 1929, Facts Of The Great Depres Great depression chronology, The crash of 1929. The French economy remainedfairly resistant to the Great depression for about six months after the 29 http://www.futurecasts.com/Depression_descent-'29.html

DESCENT INTO THE DEPTHS (1929): The Great Depression Crash Of '29 Page Contents: Prelude to Crash of 1929 The Crash of 1929 FUTURECASTS online magazine www.futurecasts.com Vol. 3, No. 3, 3/1/01. Homepage Summaries of Great Depression Facts and Controversies The Great Deception Great Depression Chronologies II. Rebound from Crash of '29 III. Collapse of agriculture IV. Debate begins. V. Collapse of international finance VI. Collapse of WW I financial obligations VII. Collapse of governments (The vast majority of the following was taken from articles published in contemporary issues of the N.Y. Times.) NOTE: I suggest the following, very conservative, rules of thumb to assist in making comparisons with today's conditions. To compensate for the impact of inflation on prices, multiply all prices by 10. To compensate for the impact of inflation, plus the doubling of our population, plus the quadrupling of our economy per capita, multiply financial statistics by 80 when evaluating the impact of events on economic and financial markets. This may look strange when applied to commodity and consumer prices, but actually highlights the tremendous productivity advances of the last 70 years.

32. David Kennedy, Freedom From Fear (I), Economic Great Depression Kennedy chooses to portray the 1929 crash as essentially a domestic phenomenon . the world wide depression was started by the crash and economic decline http://www.futurecasts.com/Book_review_7.html

BOOK REVIEW FREEDOM FROM FEAR By David M. Kennedy (Part I: The Great Depression) FUTURECASTS online magazine www.futurecasts.com Vol. 3, No. 2, 2/1/01. Homepage Sloppy scholarship: Grossly sloppy scholarship is the only appropriate verdict for the first few chapters - covering the stock market crash of 1929 and the first two years of the Great Depression - of David M. Kennedy's "Freedom From Fear," an important segment of The Oxford History of the United States. Great Depression era scholarship must be able to navigate the mine fields of the advocacy scholarship of twentieth century ideologues like John Kenneth Galbraith, who has admitted a lifetime effort to support his socialist proclivities with intentionally twisted scholarship. (Paul Krugman refers to him as a primary example of the academic "policy entrepreneur.") David Kennedy clearly lacks the competence in economics to cover this subject. His acceptance of the various left wing ideological myths about the causes of the stock market crash of 1929 and the Great Depression are supported by scholarship that can only be described as grossly sloppy. Much better is Kennedy's coverage of Hoover Administration and New Deal responses to the Great Depression, and the years immediately preceding the attack on Pearl Harbor.

33. Stock Market Crash (October 1929): Historical Context, Economic Impact And Relat Key Economic Events 1929 Stock Market crash which ended only with the outbreakof the Second World War. (See 1929 1939 —The Great depression.) http://canadianeconomy.gc.ca/english/economy/1929stock.html

Contact Us Help Search Canada Site ... A to Z Index RESOURCES Current Economy Money International Issues About Business LEARN ABOUT Key Indicators Economic Concepts Key Economic Events Economy Overview ... Other Useful Links RETURN Home CHECK THIS OUT Budget 2005 Speech from the Throne Economic and Fiscal Update Where Your Tax Dollar Goes Jump to Event Links Event Overnight, individuals and companies were ruined. It was estimated that Canadian stocks lost a total value of $5 billion on paper in 1929. By mid-1930, the value of stocks for the 50 leading Canadian companies had fallen by over 50% from their peaks in 1929. Although the crash was sudden and deep, there were signs that it was coming. Earlier in 1929, stock prices had been volatile. Economic slowdowns in May and June hinted that the booming economy was heading for a recession. Export earnings were declining and the price of wheat plummeted. Economists and historians are still debating what caused the crash. At the time of the crash, Canada had no monetary policy or central bank, so there was little government intervention in the market. (See

34. The Great Depression (1929-1939): Historical Context, Economic Impact And Relate Key Economic Events 1929 1939 The Great depression (See 1929—Stock Marketcrash.) The crash set off a chain of events that plunged Canada and the http://canadianeconomy.gc.ca/english/economy/1929_39depression.html

Contact Us Help Search Canada Site ... A to Z Index RESOURCES Current Economy Money International Issues About Business LEARN ABOUT Key Indicators Economic Concepts Key Economic Events Economy Overview ... Other Useful Links RETURN Home CHECK THIS OUT Budget 2005 Speech from the Throne Economic and Fiscal Update Where Your Tax Dollar Goes Jump to Event Links Event .) The crash set off a chain of events that plunged Canada and the world into a decade-long depression. It was the beginning of the Dirty Thirties. While all of Canada suffered greatly, the regions and communities hit hardest were those dependent on primary industries such as farming, mining and logging, because commodity prices plummeted around the globe. Thus, the three Prairie provinces, where the wheat economy collapsed, and the municipalities where mining and logging were a mainstay saw the greatest decrease in per capita income between 1928 and 1933. The economy began to recover, slowly, after 1933. However, the Depression did not end until 1939, when the outbreak of the Second World War created demand for war materials.

35. H102 Lecture 18: The Crash And The Great Depression crashing Hopes The Great depression. In 1929, Yale University economist IrvingFisher However, the crash was not the immediate cause of the depression. http://us.history.wisc.edu/hist102/lectures/lecture18.html

Stanley K. Schultz, Professor of History William P. Tishler, Producer Lecture 18 Crashing Hopes: The Great Depression In 1929, Yale University economist Irving Fisher stated confidently: "The nation is marching along a permanently high plateau of prosperity." Five days later, the bottom dropped out of the stock market and ushered in the Great Depression, the worst economic downturn in American history. Although Americans often believe that the Crash was the starting point of the Great Depression, many historians point out that it wasn't the sole cause. This lecture examines the roots of the Crash and the effect of the Great Depression on the American public. Some questions to keep in mind: Why were Americans so confident in the stock market in the years leading up to the Great Depression? How did the Psychology of Consumption shape the causes and effects of the Crash? How did stock market investing change during the 1920s? Who were the main investors and how did they pay for their investments? Explain the statement: "By 1929, much of the money that was invested in the stock market did not actually exist."

36. H102 Lecture 18: The Crash And The Great Depression The crash and the Great depression. In 1929 Yale University economist IrvingFisher stated confidently The nation is marching along a permanently high http://us.history.wisc.edu/hist102/lectures/textonly/lecture18.html

American History 102: 1865 to the Present Stanley K. Schultz, Professor of History William P. Tishler, Producer Shane Hamilton, Web Editor Lecture 18 [Graphics Version] The Crash and the Great Depression In 1929 Yale University economist Irving Fisher stated confidently: "The nation is marching along a permanently high plateau of prosperity." Five days later, the bottom dropped out of the stock market, ushering in the Great Depression, the worst economic downturn in America's history. Although the Great Crash is viewed as the starting point of the Great Depression, it wasn't the sole cause. This lecture examines the roots of the Great Crash and the effect of the Great Depression on the American public. VIDEOTAPE LECTURE #18 OUTLINE [00:00] Bars, Tone, and Countdown [03:30] Silent Film Star [04:22] Herbert Hoover [07:10] John Jacob Raskob [07:45] "Everybody Ought to be Rich" (1929) [09:30] Irving Fisher, Yale economist [10:40] Bull market [12:20] Rising stock dividends [14:40] Increase in personal savings [15:50] Relatively easy money supply [17:25] Over production profits funneled into new production [19:30] Lack of regulation on stock market [20:50] "buying on margin"

37. The Great Depression - Pictures & Causes Of Great Depression Stock market crash and finacial panic. Effects of The Great depression The stock market crash that began on a black Friday in October 1929 and deepened http://www.indianchild.com/the_great_depression.htm

The Great Depression information ( USA) - Pictures, causes of the Great depression. The Great Depression took place from 1930 to 1939. During this time the prices of stock fell 40%. 9,000 banks went out of business and 9 million savings accounts were wiped out. 86,00 businesses failed, and wages were decreased by an average of 60%. The unemployment rate went from 9% all the way to 25%, about 15 million jobless people. Causes of The Great depression * Unequal distribution of wealth * High Tariffs and war debts * Over production in industry and agriculure * Stock market crash and finacial panic E ffects of The Great depression * Widespread hunger, poverty, and unemployment * Worldwide economic crisis * Democratic victory in 1232 election * FDR's New Deal It was appropriate that the terrible economic slump of the 1930s started in the United States, to which Europe seemed to have surrendered economic leadership during the Great War and on which she had been dependent ever since. Stock Market Crash The stock market crash that began on a black Friday in October 1929 and deepened in the ensuing months had immediate repercussion in Europe. Indeed, even before this, the superheated boom in stock prices that marked the bull market of 1928 siphoned money from Europe. The pricking of the bubble sent shock waves throughout the world.

38. MSN Encarta - Great Depression In The United States Introduction; Causes of the depression; Economic Collapse (19291933); The stock market crash announced the beginning of the Great depression, http://encarta.msn.com/encyclopedia_761584403/Great_Depression_in_the_United_Sta

MSN Home My MSN Hotmail Shopping ... Sign In Web Search: Encarta Subscriber Sign In Help Home ... Upgrade your Encarta Experience Search Encarta Upgrade your Encarta Experience Spend less time searching and more time learning. Learn more Tasks Find in this article Print Preview Related Items United States (History): The Great Depression Depression (economics) more... Further Reading Editors' picks for Great Depression in the United States Search for books and more related to Great Depression in the United States Encarta Search Search Encarta about Great Depression in the United States Editors' Picks Great books about your topic, Great Depression in the United States ... Click here Advertisement document.write(' Great Depression in the United States Encyclopedia Article Multimedia 15 items Article Outline Introduction Causes of the Depression Economic Collapse (1929-1933) Initial Response to the Depression ... Legacy of the Depression I Introduction Print Preview of Section Great Depression in the United States , worst and longest economic collapse in the history of the modern industrial world, lasting from the end of 1929 until the early 1940s. Beginning in the United States, the depression spread to most of the world’s industrial countries, which in the 20th century had become economically dependent on one another. The Great Depression saw rapid declines in the production and sale of goods and a sudden, severe rise in unemployment. Businesses and banks closed their doors, people lost their jobs, homes, and savings, and many depended on charity to survive. In 1933, at the worst point in the depression, more than 15 million Americans—one-quarter of the nation’s workforce—were unemployed.

39. The Shepherd Investment Strategist, A Service Of JAS MTS Inc. 1929 Stock Market crash and The Great depression At the depth of the depression,the economy came to a virtual stand still. http://www.jasmts.com/1929StockMarketCrash.htm

Tuesday September 20, 2005 1929 Stock Market Crash and The Great Depression "There are so many eerie similarities these days to the era of the Great Depression that we must not ignore them". Jim Shepherd in a Newsletter to subscribers (see complete comment at the end of this article). Paul Gusmorino* summed up the situation very well when he wrote, "The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world." Many factors played a role in bringing about the depression; however one of the main causes was the extensive stock market speculation that took place during the latter part of the 1920's. Probably of more significance was the descent by the economy into a deflationary spiral in 1930. As we examine some of the causes and ramifications of the Great Depression we must never assume it could not happen again. At the depth of the depression, the economy came to a virtual stand still. Workers couldn't find employment because employers wouldn't hire them to work; firms wouldn't hire workers because there were no markets for produced goods; and there was no market for goods because workers were unemployed and had no money to spend. Seventy five percent of the US population spent their entire yearly incomes on food, shelter and some clothing. Many sifted through slag heaps to find bits of coal to heat their homes. What had started as a slow rolling problem quickly snowballed into an economic calamity. Retailers were suddenly forced to cut back plans for further purchases of goods. Factories that manufactured those goods cut back production and those that were out of work, or who feared being out of work, cut back on their purchases.

40. Great Depression - Linix Encyclopedia The Great depression was the global economic slump that began in 1929 and bottomed in Major theories proposed include the stock market crash of 1929, http://web.linix.ca/pedia/index.php/Great_Depression

Great Depression The Great Depression was the global economic slump that began in and bottomed in . However, most of the remainder of the was spent recovering from the contraction, and it would be well after World War II when such indicators as industrial production, share prices and global GDP surpassed their 1929 peaks. The Great Depression can refer to the economic event, but it can also refer to the cultural period, often called simply "The Depression", and to the political response to the economic events. What gave the this downturn the name the "Great Depression" was that it is by far the largest sustained decline in industrial production and productivity from the century and a half where economic records have been kept with any regularity, and it reached virtually the entire industrialized world and their trading partners in peripheral nations. It led to massive bank failures, high unemployment, as well as dramatic drops in GDP, industrial production, share prices and virtually every other measure of economic growth. Missing image Lange-MigrantMother02.jpg

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