29 October In History

The year is 539 BC……Persian king Cyrus the Great conquers Babylon and frees the Hebrew slaves and allows them to return to their homeland……but that is not important for we hate Iran (Persia)…..

But what happened here in the good old U.S. of A.?

Does anyone know what happen 90 years ago today?  (Of course you don’t for it does not concern you)……

……..I will wait while the Google machine gets a work out…….

It was called “Black Tuesday”….does that help?

The great Stock Market Crash of 1929 and the beginning of what would be called the “Great Depression”….a time that changed much here in the US.

On October 29, 1929, Black Tuesday hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression (1929-39), the deepest and longest-lasting economic downturn in the history of the Western industrialized world up to that time.

https://www.history.com/topics/great-depression/1929-stock-market-crash

Let us look closely at what happened that caused this “crash”?

The stock market crash of 1929 – considered the worst economic event in world history – began on Thursday, October 24, 1929, with skittish investors trading a record 12.9 million shares. On October 28, dubbed “Black Monday,” the Dow Jones Industrial Average plunged nearly 13 percent. The market fell another 12 percent the next day, “Black Tuesday.” While the crisis send shock waves across the financial world, there were numerous signs that a stock market crash was coming. What exactly caused the crash – and could it have been prevented?

https://www.history.com/news/what-caused-the-stock-market-crash-of-1929

Now we know what happened so the question now is could it happen again?

Few people are alive anymore who remember living through the stock market crash of 1929. But plenty of people still view that fateful plunge as a worst-case scenario for what might befall investors.

The roughly 20% decline for large stocks in October 1929 actually wasn’t the market’s worst month ever, but the drop incited nearly three years of relentless selling and helped to usher in the Great Depression. Could a 1929-style market setback happen again?

Yes, it could.

https://www.azcentral.com/story/money/business/economy/2019/10/13/stock-market-crash-october-1929-great-depression-economic-downturn/3910471002/

More thoughts on the possibility of the Crash happening again…..https://www.washingtonpolicy.org/publications/detail/the-crash-of-1929-could-it-happen-again

Be Smart!

Learn Stuff!

I Read, I Wrote, You Know

Class Dismissed!

“Lego Ergo Scribo”

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