quickly and that America would be able to get rid of poverty. Many people thought that nothing could possibly go wrong. Well‚ in October 1929‚ the Stock Market Crash occurred. Many wonder what it was like before the crash‚ the effects of the crash‚ and what caused the crash. It was a difficult time for America and it took several years for recovery. Before the crash‚ during the 1920’s‚ the stock market grew quickly. People thought we were done with poverty and were worry free. After President Hoover
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Both the great depression of 1929 and the great recession of 2009 presented hard times for the economy. The great depression had many people lose their jobs‚ homes‚ and money for a decade until the economy stabilized after 1939. The great recession in 2009 originally started in 2007 with the mortgage crisis‚ and it lasted for three years which left the economy broken with the loss of many jobs and homes. The great depression happened because of the stock market crash while the great recession happened
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The 1929 stock market crash affected mainly people in Canada and the US when share prices on the New York Stock Exchange completely collapsed and Stocks lost 13% of their value‚ and in 1932 and 1933 they went‚ down about 80% from their highest value. So whoever invested in stocks lost all their money‚ and it was considered the beginning of the Great Depression. By the end of the stock market crash‚ $16 billion had been lost from New York stocks. In addition‚ many banks had invested their deposits
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and rugged individualism which meant that they didn’t interfere and thought everyone could succeed in life without their intervention. Many believe that this lack of interference was the main cause of the great depression‚ also known as the Wall Street Crash. As a party that favoured this style of government they favoured low taxes on the rich and minimal regulation. This was ideal for the rich businessmen; they were left to make their fortunes without any interference. The increase in successful
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The Great Wall of China was always believed to be one of the greatest structures on Earth. However‚ achieving that title came with a great cost. The Great Wall took 2‚000 years to build and is 5‚500 miles long. It was a previous entry of the Seven Wonders of the World‚a collection of remarkable constructions. The wall was built in 223 BC to keep invaders out‚and eventually attracted people which made China’s popularity boost. The benefits of the Great Wall of China did not outweigh the costs because
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Stock markets started to crash on october 1929. Which send everyone on wall street into panic mode and depression mode. It also took out millions of investors who invested in the stock market. Years later investments started to drop and was a major downfall in industrial output. The unemployment rate also started to rise up because failing companies laid off workers. when the Great Depression reached its lowest point‚13 to 15 million Americans were unemployed while half of the country banks failed
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The Crash of 1929 The roaring 1920s was a time where Americans were living the American dream‚ the age of surplus because it was the first time in American history that people could afford to buy in abundance and buy anything they pleased. The roaring 1920’s was effected by many inventions and a new life that Americans were adapting to. America enjoyed a period of great prosperity in the 1920’s‚ people often called it ‘the roaring 20’s’ as things like mass production‚ cinema‚ jazz and prohibition
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Stock Market Crash When the Stock market crashed in 1929 it affected people’s lives worldwide . After World War 1 ended it had sent every major European country near bankruptcy in 1918. People thought the United States’s future faced limited opportunity. It was the longest and darkest economic depression in American history. Then signs of recovery began to show in the early 1930s. The American economy lost more than $30 billion on October 24‚ 1929 also known as Black Tuesday. All major
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The main point on this video is what factors contributed to the stock market crash to start the Great Depression in the 1930s. Because there was no regulation or government involvement in the stock markets at the time‚ corruption ran ramped. In the 1920s and 30s it was not considered corruption because there no laws against insider trading as there are today. The stock markets were manipulated to drive the cost of shares and stock up through the illusion that the market was strong and everyone was
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The Stock Market Crash was the one of the most substantial events to happen in America during the 1930’s and in all of American History. “The Great Crash”‚ as it is called by many‚ changed the way American stock market was run and the American way of life. This pushed new rules and regulations to be put into place that we could not do without today. The Stock Market crashed eighty percent in less than two weeks‚ leaving most stocks worth nearly nothing of what they used to be worth. The stocks fell
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