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Unformatted text preview: The Great Depression 1929 – 1933 1 I nt roduction In the late 1920s, the U.S. economy was strong. Many companies were growing and earning money. People bought shares of the companies, called stock. The stocks were traded and bought in the Stock Market. On October 24, 1929, stock values dropped or became worthless rapidly. This started the most severe economic depression in U.S. history—the Great Depression. Today, that day is still remembered as Black Thursday. Chapter 1. Black Thursday In the late 1920s, prices in the stock market soared up, becoming very valuable. For example, in 1928, the price of a common share of the Dupont stock went from $310 to $525 The rising stock values encouraged people to buy stocks in hope of making large profits when the stock exchange increased in the future. Even though experts predicted that the stock prices might fall, people didn’t listen. So many investors threw their money into the stock exchange that the plan backfired. Instead of increasing in value, the share prices crashed, becoming backfired....
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This note was uploaded on 08/18/2010 for the course STRATEGIES tb133 taught by Professor Elizabethkahn during the Spring '10 term at Minnesota Colleges.
- Spring '10