Download The Great Depression: A Short History AudioBook Free
There are various theories as to the reasons america and then much of the world entered into an extended period of price deflation, high unemployment, and an overall significant monetary downturn, which we now call the fantastic Depression. People always wonder why this horrendous event occurred and there is absolutely no simple response to this question. It was a perfect storm of happenings that came along and brought about an inevitable plummet in the lives of large numbers. Perhaps the beginning shot of this dark period was the currency markets crash in Oct of 1929. Little or nothing had happened like it before that moment. Within the aftermath, the rest of the country and the globe fell into the Great Depression, the longest and deepest monetary depression since the Civil War. During the 1920s, america economy was growing and the currency markets kept achieving new highs. Large amount of common people were making money in the currency markets and creating a grand time; unfortunately, there have been ominous clouds few found on the horizon. By that point, industrial production had started declining and unemployment was already rising. The signals were there, but many were disregarded. Some of the causes of the collapse were the explosion of arrears, low pay, an agricultural industry that was struggling, and large bank loans that were struggling to be liquidated. Prices started to drop from the currency markets peak in September of 1929, and on Oct 18, the market began to show up dramatically. Panic began to set in with the traders and shareholders, and on Oct 24, known as "Black Thursday," the market lost 11 percent of its value on the beginning bell in heavy trading. Investment companies and bankers tried out to stabilize the market through purchasing blocks of stock, creating a moderate improvement by Friday. However, by Mon, the market was in big trouble once again. On Oct 29, over 16 million stocks were traded in just one day.
