The most devastating stock market crash in the history of the United States;
Its from my favorite documentary by PBS - New York.
This particular part about Wall Street crash of 1929 is from episode 5 of the series with title: Cosmopolis
there are lots of archive photos, footages and drawings throughout the series and in my opinion it was great work done with finding them.
series website:
http://www.pbs.org/wnet/newyork/series/index.html
“Archival shoots took place at various historical and cultural institutions, including the New-York Historical Society, the Museum of the City of New York, and the Library of Congress, and focused on the filming of particularly rare or large-scale archival prints, lithographs, maps, and photographs”
ISAIAS
Comments
For some reason i feel it will happen in October.
Then it would be 80 years since it happened exactly.
think the stock market has sort of corrected already… It’s the econnomey you got to be worried about
after several people asked me this I have updated video description.
Its from documentary by PBS - New York.
This particular part about Wall Street crash of 1929 is from episode 5 of the series with title: Cosmopolis
Great documentary, if you are interested in history I highly recommend to see it.
There are “two sides to this coin”: while the majority of these people lost trillions of dollars, a small number of savvy investors became Mega rich in the shortest period of time in history, and that is a historical fact.
This is valuable lesson to learn from. When people “follow the crowd” in the stock market it causes booms and busts, and when there are busts it causes the big corporations to close their businesses down, which in means millions of people everywhere lose their jobs. There are many other factors, but that is the grand picture of how a stock market crashes, it is 100 percent psychology.
I guess people are getting into tese forums lately because of the current Crash (Which I believe it started in the summer of ‘07) and the rapidly rising unemployment. I just can’t believe that unemployment was at a low of 4.6% in the US (and a similiar rate in UK) in July ‘07 and, in just 18 months, soared up to 7.2%. I’m sure the 10% mark will be reached before the year is over.
thats a nice car for $100 i wonder who brought it , though looking at the faces nobody could :S
JP Morgan at 5:29 fooling people. Whats fucken new?
Socialism has appeared in the United States for many years, it hasn’t just started now. The U.S. is a mixed economy, we advocate both capitalism and socialism on different levels. And yes, after the stock market crash of 1929, President Hoover and Secretary of Tresury Mellon, suggested the market fix itself. However, it did not produce any results and only further hurt the economy. The bailing out of the finical sector was necessary in some form.
Actually, you’ve made a contradiction. The U.S. entered the great depression partially on the fact that President Hoover at the time allowed the “market to fix itself” However, the markey did not fix itself and it only spiraled further out of control. Government intervention of the finacial system was the only way to prevent something such as this from occuring again. Higher taxes are better than a depression.
“…nothing could stop it because people wanted out.”
This could be a story about today’s busted real estate bubble. Thank God I had shitty credit during the boom.
we just entered into a recession, but if people think that the government is going to solve the economic problems they are wrong. The Government only make things worse the great depression can occur again if we don’t stop asking the gov’t for help.
all the amounts of money that the government have been spending on automobile industries and the banks, are only making the recession last longer. The cost will be very hight for us the people who pay taxes.
if they stopped this stupid war on drugs and legalized not just weed ,but other drugs and regulated them like they do alchohol, that could help boost part of the economy,plus your not wasting tax dollars locking up harmless people ,and concentrate on real criminals like most politicians are,also prostitution could also be regulated and legalized.
What? the whole world is have financial downfall because America isnt buying anything from other countries. We stopped buying things from china and china lost over 2,000 factories so now China is having financial downfall now the auto industry is crashing due to americans not buying from foreign countries like Toyota, Chrysler etc. so every country is feeling this because once the biggest consumer in the world stops buying, the worlds biggest producers start crashing.
stupid snob arrogant america are getting their **** at their own door..poor chap. bye bye america…
stupid american..snob..arrogant animals..finally they are bash down in misery for the next 50 years…poor america….bye bye. PS” kaninabucheeby to all AMERICANs
history does repeat it self, I think it wont be as bad as they should learn from the past. One of the mistakes they made in the depression is government never intervened and helped. But all this is happening now so eve though it will slow things down and recovery will take some time it wont be as bad. In my opinion this is a great time to invest if u have spare cash. I put all my savings into FSTE 100.
Those of you speaking as if we’ve seen the bottom do not understand current asset deflation, the amount of money the FED will have to print next year, the following hyperinflation and collapse of the dollar. After 2010 will be a full depression. Socialism will be the result. As if it’s not here already. Free market governments do not bail out companies, period. No matter how much it hurts. It builds strength.
Linear consumption leveraged by debt in a cyclical world always fails. good luck
Yep the real test huh? Thats why the stock market is already starting to get back on it’s feet right? Pshh. Gas, Food, and everything is back to normal or almost.
