the stock market crash
TRANSCRIPT
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The Stock Market Crash
Wednesday, March 21, 2007
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Collapse Have you ever felt like all was going great in your
life… But then everything collapsed? What did that feel like? Why did it happen? Today we will learn about the greatest economic
fall in our history. Today we will learn about The Stock Market
Crash.
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New York Stock Market Crash
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Stock
Stock – A stock represents a share in the ownership of an incorporated company.
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New York Stock Market Crash
Stock Market Crash – On October 29th 1929 the market “crashed” as prices went into free-fall.
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Why?
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Gambling on Stocks
As stock prices rose in the 1920’s, people hoped to get rich quickly.
They bought on credit, paying only a small part of a stock’s value, and promised to pay rest later.
When the market crashed they could not pay.
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Overproduction The 1920’s saw rapid
increases in the production of new goods like cars, radios, and refrigerators.
Manufacturers were soon producing more goods then consumers could buy.
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Uneven Distribution of Income Even in the prosperous
1920’s, half the population lived at or below poverty line.
The income of farmers declined; Minorities suffered from unemployment and low-paying jobs.
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Shrinking International Trade American tariffs
protected markets in the U.S., but made it difficult for U.S. to sell abroad due to other countries having tariffs of their own!
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Shaky Banking and Credit The banking system was
unregulated. Bankers often put their
depositors money into bad investments.
Consumers bought on credit more then they could afford.
Many banks CLOSED.
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Great Depression Great Depression
– Worst economic period in U.S. history.
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Global Depression Because the top economy in the world fell
the rest suffered also. Global Interdependence – When
conditions in one part of the world are affected by other parts.
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The END