The year of the 1929 began a time period of horror in America. I t was the beginning of the depression. A time in which many lost their jobs, became homeless, and went hungry. They lived off of the nutrition of weeds, or worked fifty-five hours with only earning seventy-five cents. The destitution and poverty situations that most can not imagine was a common reality between 1929 and 1934. For this report I have researched the Stock Market Crash of 1929, the economics, employment,, entertainment, sports and leadership.
The Stock Market Crash of 1929 is said to be the most shocking financial event in the history of the United States. Not only did the stock market prices drop drastically, but the business world was brought down with it. The market losses for the month of the Stock Market crash included sixteen billion dollars. this triggered the Great Depression.
The crash occurred in October of 1929. Approximately thirty billion dollars was lost by Americans due to the stock market crash. After the stock market crash, profits declined over seventy-five percent. The automobile, steel, railroad equipment, metals, machinery, and mining companies were impacted the most due to the stock market crash. Not only did business's fail, but the American dollar was worth ninety percent less prior to October of 1929. Wholesale and retail food dropped forty percent, and farm prices dropped over sixty percent. About four million families were left unemployed.
Because of the crash, the government was forced to make new regulations regarding stock market trading. The reason for this was to attempt to prevent another stock market crash from happening in the future.
Economics during the Great Depression were very different than periods of time during the depression. The country was in an economic crisis. The nation had little money and the citizens of the county were starving and in poverty. The national income had declined by fifty percent.