Friday, August 24, 2007

Wall Street Crash of 1929 or A.K.A. Stock Market Crash

This is a picture showing a crowd gathering on Wall Street in New York City in 1929, October 24th.
source: Wikipedia, Wall Street Crash of 1929 section

This is the Wall Street Crash of 1929. It happened in 1929, October 24th and people sometimes regarded it as the beginning of the Great Depression or the roots of the Great Depression. It is a important event because it had created panic because people had thought that it won't happen. It was, as stated, a part of the many reasons why the Great Depression had started in the world. According to a man named Richard M. Salsman, he said that buying stocks in the mid 1929 and held on to them saw most f his adult life pass by before getting back to even. That means it was hard for stockbrokers to work while the stocks are falling up and down. However, this important event had became the starting point of important financial reforms and trading regulations so i think its included in the important part. But it also made long-lasting consequences for the United States.

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