STOCK MARKET CRASH OF 1929 Alycia Turack, Amanda Diorio, Carol Tomlinson, Emily Smith, Joey Wolf

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  • STOCK MARKET CRASH OF 1929 Alycia Turack, Amanda Diorio, Carol Tomlinson, Emily Smith, Joey Wolf.
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  • Location New York Stock Exchange Worlds largest Market Place 1,366 members
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  • Background After World War I Time period of Flappers People invested often Caused prices to rise Risky reputation
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  • Background 1925 Crash first noticeable Early 1929 Demand to enter the stock market Mini-crash
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  • Spring of 1929 Steel production House construction Car sales
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  • Black Thursday October 24, 1929 Stock prices plummeted 12.9 million shares sold
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  • Black Monday October 28, 1929 Stocks plummeted even more No help
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  • Black Tuesday October 29, 1929 Worst day in stock market history
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  • Business Issues ghfh Officially closed November 1, 1929 Few days Monday November 4, 1929 Reopened
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  • Causes Agricultural recession Small farms driven out of business Better technology increased Food demand not increasing at the same rate
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  • Causes False expectations and over exuberance As share prices rose, people borrowed money to invest October 1929 Shares grossly over-valued Companies posted disappointing results Investors cashed in on profits Fall in prices occurred Market fell rapidly
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  • Causes Weakness in banking system Before the Great Depression banks had Small to medium sized firms America had over 3o,000 banks Prone to going bankrupt Run on deposits
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  • Effects Banks failed Businesses failed Unemployment skyrocketed Consumers had less purchasing power Existing businesses lowered prices
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  • The Great Depression Stock market crash Devastated economy Key factor in the Great Depression Suicides reported Lost life savings Companies ruined Faith in banks destroyed
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  • The Great Depression 1929-early 1940s Banks invested clients money Forced to close People panicked Withdrawal of all money Caused more banks to close If money was not retrieved, savings were lost
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  • The Great Depression Businesses lost money Cut workers/wages/hours People made less money Consumers curbed spending No luxury goods
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  • The Great Depression Lack of Spending Out of business
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  • Dust Bowl Previous depression Farmers usually safer Fed themselves BUT During Great Depression: Great Plains hit with drought and dust storms
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  • Works Cited "Google Images." Google. Web. 12 Apr. 2011.. Rosenberg, Jennifer. "Great Depression - A Short History of the Great Depression." 20th Century History. Web. 12 Apr. 2011.. Rosenberg, Jennifer. Stock Market Crash-History of the Stock Market Crash of 1929. 20 th Century History. web 08 Apr. 2011. "Stock Market Crash of 1929 and the Effects on the Economy." Olivet Nazarene University - Web Services. Web. 11 Apr. 2011.. "The Great Depression Cause and Effects." The Great Depression Causes. 13 Apr. 2011.. "1920s." 20th Century History. Web. 12 Apr. 2011.