View Stock market crash and over 3,000,000 other topics on Qwiki.
"These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again."
John D. Rockefeller on the Depression in 1933
John D. Rockefeller on the Depression in 1933
Black Tuesday: The Stock Market Crash of 1929
-Oct 29, 1929 "Black Tuesday" huge drop in stock market
-buying on margin - borrow money to invest
-lost money -> people can't pay back to banks -> banks bankrupt
-Over production -> prices dropped dramatically.
-end of prosperity and beginning of the Great Depression
-buying on margin - borrow money to invest
-lost money -> people can't pay back to banks -> banks bankrupt
-Over production -> prices dropped dramatically.
-end of prosperity and beginning of the Great Depression