Recollection of those breathtaking earthquake the stock market crash the U.S. stock market crash in life insurance category 1929
Other countries in the world took place over the causes of the economic disaster caused by the stock market, the most typical of the U.S. stock market crash in 1929 to a few.
October 29, 1929
In what has [...]
Recollection of those breathtaking earthquake the stock market crash the U.S. stock market crash in life insurance category 1929
Other countries in the world took place over the causes of the economic disaster caused by the stock market, the most typical of the U.S. stock market crash in 1929 to a few.
October 29, 1929
In what has been called the “Black Tuesday” days, the New York Stock Exchange, where all people are trapped in the vortex of selling the stock, it is a history of the U.S. Securities and dark day in American history, the greatest impact hazard the deepest economic events, which affected the whole Western world as a whole. Since then, the United States and the world has entered a 10-year period of the Great Depression.
The United States made a nightmare
Crisis has quietly come, people did not notice. Autumn 1926, at age 20 fired a speculative frenzy in real estate in Florida, too far off the mark was first burst the bubble. However, this does not give the number of wake-up call to bring the madness on Wall Street. From 1928 onwards, the stock market rise in the final madness. In fact, in 20 years, the United States, many industries continues to be no one to recover the post-war recession, the stock market and the reality of the overheating has been completely detached from the economic situation.
In March 1929, the U.S. Federal Reserve Board on the stock price rise was of concern, announced that it would tighten interest rates to curb price surge, but the U.S. president of the National Commercial Bank, Charles Mitchell, from the self-interest, to the stock market to increase capital investment in order to avoid the drop, stock brokers and bankers are still strongly encouraged people to join the speculation. Even some well-known scholars have also lost their cool. One of the most typical is the Irving Fisher of Yale University, who is not only itself into the great economist, the ranks of speculators, but also a public speech he declared: “Stock prices have reached a peak of some persistent state. ”
However, there are a lot of people kept a cool head, U.S. President John F. Kennedy’s father Joseph Kennedy was an early one to get out from the stock market. He said to himself, if even the shoeshine are buying stocks, I do not want to stay inside of. This choice made him a premature withdrawal of funds, for the family laid the foundation for the future.
The summer of 1929, the stock price increased more than all previous years, the collapse is almost here. September 3, Wall Street, a statistician Roger Babson on Wall Street’s financial luncheon said one sentence: “Sooner or later the stock market will collapse!” This sentence was “Dow Jones financial” published. In fact, this gentleman has been in the previous two years, repeated the phrase, only to be there as a joke, never thought of this actually a prophecy has been fulfilled through the ages help earn. These words soon spread throughout the entire United States, investor confidence began to falter, the stock market turned down immediately.
Alarmed by the news of stock prices, President Hoover, he quickly issued a press statement, said: “The U.S. commercial basis, well, production and distribution has not lost the previous balance.” Relating to government finance officials have also come out even behind the stock market. But by that time people’s nerves are very fragile, the stock market rise after a short-lived after the nightmare began the plunge.
Jumping off a building is not only the index
In October 1929 in the last 10 days, focused on the securities in the history of a series of well-known day.
October 21, the New York Stock Exchange opening that was big sell-off, all day sell-off as high as more than 600 million shares, resulting in automatic recording devices to the stock market closed 1 hour and 40 minutes after you have recorded the last transaction.
October 23, the situation continues to deteriorate, “New York Times” index fell 31 points.
October 24, the day the stock market disaster, the beginning of the history of the famous “Black Thursday.” Morning has just opened, stock prices crashing as burst water discharged, people have disposed of shares, 1289.5 million shares changing hands all day. New York for several major banks were quick to form a “rescue fund”, the New York Stock Exchange CEO Richard Wayne personally buy shares, hoping to turn the tide. But the Cradle Will Rock, themselves they.
October 25, President Hoover said in a statement: “America’s basic businesses, namely, production and distribution of goods is based on a sound and prosperous basis”, trying to stimulate a new round of investment. However, over a weekend, and all to save the stock market to no avail.
October 28, known to history as “Black Monday.” On the New York Times Index fell 49 points, the Dow Jones index slumped 38.33 points, Japan has fallen by 13%, this day, no one has come forward to rescue the market.
October 29, the darkest day has arrived. 10:00 o’clock, the New York Stock Exchange, has just opened, throwing a single violent storm came ———- published from www.autoinsurancequotes3.com
