The Great Depression:
A Time of Struggle, Survival and Reform
I. Black Thursday
A. October 24, 1929
B. First day of panic
C. Investors sold stock fast
II. Causes of Crash
A. 1924 to Black Thursday bull market kept prices up
B. People thought stock was a get rich quick scheme
C. Higher wages meant investing more stock
D. Banks lent money on margin
1. Stocks were no longer just for the rich
E. No regulations on banks or stock market
1. Might have prevented this type of investing
III. During the Great Depression
A. National income dropped from $87 billion to $40 billion
B. Great depression struck every individual
C. Economic problems created social problems
Jobs were lost
Families were broken
Students dropped out of school
Suicides were numerous
Businessmen sold fruit on street
People became homeless
Over 9,000 banks failed
IV. Outcomes of the Depression
A. Federal Deposit Insurance Corporation Developed
Regulations came for banks and stock markets
FDIC started insuring individual's deposits in banks
Regulated banks to prevent lending margins from stock investors
The Great Depression: A Time of Struggle, Survival, and Reform
During the history of the stock market in the United States, there have been many days in which the market declined numerous points.
This is referred to as a market crash. One is called "Black Thursday," which marked the beginning of the Great Depressions.
It was decades ago, when the roaring twenties came to a booming halt on October 24, 1929, as the stock market crashed. It is called Black Thursday because it was the first day of panic and the start of the Great Depression. Investors tried to sell stock as fast as possible on this day. Within the first twenty days of the crash, the value of stock held...
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