Anyone who has ever taken a history class in middle school and maybe even elementary school, knows about The Great Depression in some aspect. Because people were putting so much into stocks and not working, unemployment rose, and production was declining – leaving the stock prices higher than their actual value. This lead to what is known as, “The Great Depression” – the worst economic decline in history. Trade wars were part of this as well due to the rising, then demeaning, cling of the world’s value on certain things which leads to tensions.
Individuals of all walks of careers were putting everything into stocks and therefore the stock market expanded rapidly. “By then, production had already declined, and unemployment had risen, leaving stock prices much higher than their actual value…The American economy entered a mild recession during the summer of 1929, as consumer spending slowed and unsold goods began to pile up” which made production slower (Great Depression). This then lead to the stock market crash of 1929 – “black Tuesday.” Continue reading Post ID 605
