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Friday, April 12, 2013

Stock Market Crash & The Great Depression

In the 1920s three pro-business presidents occupied the White House and U.S. businesses appeared to be doing well. The form Market was an indicator of this national prosperity. In literality down the stairs consumption was a becoming a problem and more products went unsold. Much purchasing was being done on character and many stock purchases were made on margin. other indicator that things werent as good as they seemed was that bank foreclosures were rising.

In Mid-September 1929 the foodstuff erratically begins to fluctuate up and down. There were a fewer people who thought that this was just a temporary problem in the market. Economist Irving Fisher was considered an investment prophet. He was recognise for his contributions to technical economic theory, monetary theory. On October 23 A headline in the New York Times has Fisher stating that Prices of Stocks ar Low and that the market was only shaking out of the maniac fringe. He went on to explain why he felt the prices still have not caught up with their real value and should go much higher. Fisher announced in a bankers meeting security values in approximately instances were not inflated. Fisher also announced The nation is borderland along a permanently high plateau of prosperity. small-minded did Fisher know that in the next couple of long time his reputation would be crippled forever.

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On October 24, 1929 also know as Black Thursday. the economic bubble finally bursts. On a day of heavy liquidation stock prices fall sharply. Headlines provide report the markets paper loss at $5 billion. A pool of bankers act to stem the drop by lay more money into the market, and President Hoover reassures Americans that U.S. business is sound. at heart a few days, a headline will read, Brokers think Worst is Over and Recommend Buying of Real...

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