Black Tuesday Journal Entry

Imagine this. You wake up one morning in the year 1929, in your luxurious, pricey mansion. You then make your way downstairs to eat that nice big breakfast. Then you kiss your family good bye and head off to your fancy job. You come home that evening and suddenly you’re flat broke. Meaning all your money and life’s savings vanished. Unreal right? Well it was real for hundreds of families on October 29, 1929. The day the stock market crashed and when America’s confidence was challenged greatly.

On October 29, 1929, also known as “Black Tuesday”, was a day in history no one will ever forget. It was the day the stock market crashed.

The stock market collapse was one of the most important events, in the country economy during 1929, which led the Great Depression. Before October 29, 1929, most Americans believe that stock was the key to success and fortune. John T. Raskob affirms his belief that everyone could be

The stock market crash, October 29, 1929 this is also known as Black Tuesday. The Great Depression was an economic slump in North America and Europe. The industrialized Western world had experienced the most ruthless and prolonged depression. Cinderella Man is only one example of how families struggle and overcame the great depression. You will see how this effective many Americans.

Never had the flaws of capitalism been so evident or as devastating as during the decade that followed the outbreak of the Great Depression in 1929. All across the Euro-American heartland of capitalist world, this vaunted economy system seemed to unravel. For the rich it meant contracting stock prices that wiped out paper fortunes almost overnight. On that day that the American stock market initially crashed (October 24, 1929), eleven Wall Street finances committed suicide, some by jumping out of skyscrapers. Banks closed and many more people lost their life savings. Investment dried up, world trade dropped by 62 percent within a few years and businesses contracted when they were unable to sell their products. For ordinary

Many people believe the Stock Market crash and the Great Depression are one in the same. In the nineteen twenties the Dow Jones went from sixty to four hundred. People became instant millionaires. Trading became America’s favorite pastime and a quick way to get rich. There were Americans mortgaging their home and investing their life savings in stock such as ford. However, there were many fake companies that formed to deceive the inexperience investors. Many investors did not believe that a crash was possible; they all thought the market would always go up.

During the 1920s Wall Street was representing the decade of expanding economic opportunity for every American. During 1927 some American banks failed due to bad investments and low prices for agricultural products. On Thursday October 1929 American stock market failed and millions of investors are plunged into bankruptcy. Over 12,894,650 shares changed hands, many at fire. About two months after the crash in October, stockholders had lost more than $40 billion dollars. The slump was made worse by the share-buying fever that infected the country in the 1920s. Everyone wanted to make quick fortunes, therefore they bought company shares on margin. Competitive buying of the shares drove share prices high above their actual value. Then, when cautious

Imagine being in charge of a nation that has so little money families are splitting up in search of work and many are losing their jobs and becoming homeless. This was the situation President Franklin Delano Roosevelt was facing at the beginning of the 1930s. He and his administration had to come up with a plan to end the depression and rebuild the economy before the fragile country crumbled even more. While some of their responses to the American Great Depression were more effective than others, they all impacted the nation in a positive way and changed the role of the federal government for the better.

After the crash, many business failed, banks closed, and because of that, lots of workers were out of job. Homes and farms had been lost to foreclosure. In 1933, the government finally decided to do something, congress passed the Securities Act of 1933, which required companies that sold stocks and other securities to communicate important information to consumers and set up systems to prevent fraud. The law was strengthened in 1934 when congress created the Securities and Exchange commission (“Black Tuesday”). Herbert Hoover, the president of US during this event, thought the stock market would get better within 60 days (Stock). The crash also helped lead to the onset of the Great Depression by undermining confidence in the economy, but it

Many believed that Black tuesday began the Great Depression, on October 29, 1929 a group on panicked sellers traded nearly 16 million shares on the New York Stock Exchange causing the Dow Jones Industrial Average to fall. Others believe it was the stock market crash in 1929, or that Black tuesday was just the begining triggering the stock market to crash causing the Great Depression. As soon as president Franklin D. Roosevelt came into office he began searching for ways to better American life as quickly as possible. He proposed a series of programs through The New Deal, these programs created jobs for many unemployed men, while others offered aid, created the FDA so people know whats in the products they're purchasing, and banking acts to

Black Friday is the following Thanksgiving Day in the United States, traditionally the beginning of the Christmas shopping season. Black Friday is not an official holiday, but many workers have the day off as part of the Thanksgiving holiday, this increases the number of potential shoppers. Retailers often decorate for the Christmas and holiday season weeks beforehand. Many retailers open extremely early, with most of the retailers typically opening at 5 A.M. or even earlier. Retailers use Black Friday to kick off the holiday season to use much of their products to go from the red to the black.

The Great Depression was a time of great economic tragedy during the 1930’s. October 24, 1929 was the day of the stock market crash, causing economical shortage everywhere, even globally, and this scared everyone, including the rich. This day was/ is known as “Black Thursday”, where over 2.9 million shares were traded. On “Black Tuesday”, five days later, more than 16 million more shares were traded in another wave of panic. Many investors then lost confidence in their banks and demanded deposits in cash which forced the banks to liquidate loans in order to supplement their on hand cash reserves. By 1933, around 15 million Americans were unemployed and nearly half of the country’s banks had failed. This stopped Americans from purchasing which then led to less production of goods and decreased the amount of needed human labor. In the end, millions of shares ended up worthless, and those investors who had bought stocks with borrowed money were wiped out completely.

During the Great Depression in 1929, there was Fernando Francisco the farmer with his only alluring and style 16 year old daughter Nancy Francisco at their barn. On a Tuesday morning in October 29, 1929, Fernando rocked back and forth, while glimpsing through the newspaper. Something caught his eye, it was this “The stock market has just crashed today, Wall street is in a panic and wiped out millions of investors.” After reading, Fernando went straight to the front of the entrance, and started to make billboards.

The 20th century was a time of enormous changes in American life. The history of the United States from 1918 through 1945 was World War I era, the Great Depression, and World War II.

In the 1920s, American economy had a great time. The vast majority of Americans in 1929 foresaw a continuation of the dizzying economic growth that had taken place in most of the decade. However, the prices of stock crested in early September of 1929. The price of stock fell gradually during most of September and early October. On “Black Tuesday” 29 October 1929, the stock market fell by forty points. After that, a historically great and long economic depression started and lasted until the start of the Second World War. The three causes of the Great Depression are installment buying, uneven distribution of wealth and the irrational behavior in the stock market.