1929 - The Stock Market Crash: beginning of the 12-year Great Depression, Wall Street Crash (00:08:16)
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Black Frida: The Stock Market Crash: The Stock Market Crashy or the Wall Street Crash refers to October 29, 1929, the day when the New York Stock Exchange crashed; this event eventually led to the Great Depression. The crash followed a speculative boom which had taken hold in the late 1920s and which had led millions of Americans to invest heavily in the stock market.This investment drove share prices up to artificially high levels; the rising share prices encouraged more people to invest, as they hoped the shares would rise further, thus fueling further rises and creating an economic bubble. The banks lent heavily to fund this share-buying spree. On October 29, 1929, the bubble finally burst and panic selling set in. Thirteen million shares were sold in the space of one day, as people desperately tried to dispose of their shares before they became worthless. Over the following few days another thirty million shares were sold, and share prices collapsed, ruining millions of investors.The banks who had lent heavily to fund share buying found themselves saddled with debt and this led to the failure of many banks.While millions of people lost their savings, businesses lost their credit lines and were forced to close, causing massive unemployment.The crash dramatically worsened an already fragile economic situation, and was a major contributing factor to the Great Depression. There is a good deal of controversy among economists and historians about the nature of that contribution, though. Some hold that political over-reactions to the crash, such as in the passage of the draconian Smoot-Hawley Tariff Act through the US Congress, caused more harm than the crash itself. After the experience of Black Friday, stock markets around the world instituted measures to temporarily suspend trading in the event of rapid declines, so as to prevent such panic sales. As a result, later stock market crashes, such as the crash of 1987 (Black Monday), have never been quite as severe as that of 1929.

Keywords:

crash unemployed Black Friday Wall Street inflation depression economic crisis brokers panic Great Crash economic economic system Wall Street bankers Wall Street Crash of 1929 Edward Lamont John Kenneth Salwyn Shufro Arthur Marx bank Black Thursday great depression New York economy 20th century Stock Market Crash

Arabic :

القرن الحادي والعشرين، آرثر ماركس، البنك الدولي، يوم الجمعة الأسود، يوم الخميس الأسود، السماسرة، تحطم، الاكتئاب، والأزمة الاقتصادية، والاقتصادية، والنظام الاقتصادي، والاقتصاد، إدوارد لامونت، تحطم كبرى، والكساد العظيم، التضخم، جون كينيث، نيويورك، الذعر، سالوين شوفرو، الأسهم سوق تحطم، العاطلين عن العمل، وول ستريت، وول ستريت المصرفيين، "وول ستريت تحطم" من 1929,

Bulgarian :

20-ти век, Артур Маркс, банка, черен петък, черни четвъртък, брокери, катастрофа, депресия, икономически, икономическа криза, икономическа система, икономика, Едуард Ламонт, голяма катастрофа, Голямата депресия, инфлация, Джон Кенет, Ню Йорк, паника, Salwyn Shufro състав Пазар Crash, безработните, Уолстрийт, Уолстрийт банкери Уол Стрийт катастрофата от 1929 г.,

Chinese Simplified :

第二十世纪, 亚瑟马克思, 银行, 黑色星期五, 黑色星期四, 经纪, 崩溃, 消沉, 经济, 经济危机, 经济体制, 经济, 爱德华. 拉蒙, 大崩溃, 大萧条, 通货膨胀, 约翰·肯尼斯, 纽约, 恐慌, Salwyn Shufro, 股票市场崩盘, 失业, 华尔街, 华尔街银行家, 1929年华尔街崩盘,

Chinese Traditional :

第二十世紀, 亞瑟馬克思, 銀行, 黑色星期五, 黑色星期四, 經紀, 崩潰, 消沉, 經濟, 經濟危機, 經濟體制, 經濟, 愛德華. 拉蒙, 大崩潰, 大蕭條, 通貨膨脹, 約翰·肯尼斯, 紐約, 恐慌, Salwyn Shufro, 股票市場崩盤, 失業, 華爾街, 華爾街銀行家, 1929年華爾街崩盤,

Czech :

20. století, Arthur Marx, bankovní, černý pátek, Černý čtvrtek, makléři, havárie, deprese, hospodářské, ekonomické krize, ekonomický systém, ekonomika, Edward Lamont, velký krach, Velká hospodářská krize, inflace, John Kenneth, New York, panika, Salwyn Shufro, skladem Tržní selhání, nezaměstnaní, Wall Street, Wall Street bankéři Wall Street zhroucení z roku 1929,

Danish :

århundrede, Arthur Marx, bank, Black Friday, sort torsdag, mæglere, crash, depression, økonomi, økonomisk krise, økonomiske system, økonomi, Edward Lamont, Great Crash, depressionen, inflation, John Kenneth, New York, panik, Salwyn Shufro, lager Marked Crash, arbejdsløse, Wall Street, Wall Street bankfolk, Wall Street krakket i 1929,

Estonian :

sajandi Arthur Marx, pank, Must reede, must Neljapäev, maaklerid, crash, depressioon, majanduslik, majanduslik kriis, majandussüsteemi, majanduse, Edward Lamont, suur Crash, majanduskriis, inflatsioon, John Kenneth, New York, paanika, Salwyn Shufro, Stock Turu krahhi, töötud, Wall Street, Wall Street pankurid, Wall Streeti krahhi 1929,

Finnish :

1900-luvulla Arthur Marx, pankki, Black Friday, musta perjantai, välittäjät, crash, masennus, talous-, taloudellinen kriisi, taloudellinen järjestelmä, talouden, Edward Lamont, suuria Crash, Great Depression, inflaatio, John Kenneth, New York, paniikkia, Salwyn Shufro varastossa Market Crash, työttömiä, Wall Street, Wall Streetin pankkiirit Wall Streetin pörssiromahduksesta 1929,

Hebrew :

המאה ה-20, ארתור מרקס, בנק, שישי השחור, יום חמישי השחור, תיווך, התרסקות, דיכאון, משבר כלכלי, כלכלי, המערכת הכלכלית, הכלכלה, אדוארד למונט, ההתרסקות הגדולה, השפל הגדול, אינפלציה, ג'ון קנת, ניו יורק, פאניקה, Salwyn Shufro, במלאי שוק התרסקות, מובטל, וול סטריט, הבנקאים בוול סטריט, התרסקות וול סטריט 1929,

Japanese :

20 世紀には、アーサー ・ マルクス、銀行、ブラックフラ イデー、黒い木曜日、ブローカー、クラッシュ、うつ病、経済、経済危機、経済システム、経済、エドワード ・ ラモント、大暴落、世界大恐慌、インフレ、ジョン ・ ケネス, ニューヨーク, パニック, Salwyn Shufro 入荷市場崩壊、失業者、ウォールストリート、ウォールストリートの銀行、1929 年のウォール街クラッシュ,

Korean :

20 세기, 아서 Marx, 은행, 검은 금요일, 검은 목요일, 브로커, 사고, 우울증, 경제, 경제 위기, 경제 시스템, 경제, 에드워드 Lamont, 큰 충돌, 대공황, 인플레이션, 존 케네스, 뉴욕, 공황, Salwyn Shufro, 재고 시장 추락, 실업자, 월스트리트, 월스트리트 은행, 1929 년의 월이 충돌,

Portuguese :

do século XX, Arthur Marx, banco, sexta-feira negra, quinta-feira negra, corretores, acidente, depressão, crise econômica, econômica, sistema econômico, economia, Edward Lamont, acidente de grande, grande depressão, inflação, John Kenneth, Nova Iorque, pânico, Salwyn Shufro, estoque Crash de mercado, desempregados, Wall Street, banqueiros de Wall Street, Wall Street Crash de 1929,

Marx, Arthur

(Son of the comedian, 1929) , speaking English:
-  "Every evening he called his broker and the price of his stock was growing. He always said that it was much nicer than work."

Lamont, Edward

(Banker when the stock market crash, 1929) , speaking English:
-  "Up until that point, the market had been rising continuously, it attracted more and more investors – the man on the street: the teacher, the postman and the hairdresser, too."

Lamont, Edward

(Banker when the stock market crash, 1929) , speaking English:
-  "When they asked Al Capone what his opinion of the stock exchange was, he said: we all swindle in our own way."

Lamont, Edward

(Banker when the stock market crash, 1929) , speaking English:
-  "Investors simply ignored the change of the economy. Their greed was greater than their senses."

Shufro, Salwyn

(Broker in 1929) , speaking English:
-  "They bought at any price too expensive, but in the end someone had to pay the bill."