I’m a man who has lost everything in the Stock Market and my children and I are starving I have stood in bread lines for hours just to get a piece of bread and soup and I’m still not even full and these people are always fighting over the lines and trying to cut each other but me I’m not like that I stay in the line from where I started. My children are starting to rapidly lose weight even me because of not getting enough food. I need to find a job to get some money to feed my family and get a home but there is none I keep trying to find a job but the employers keep ignoring the people and tell us that its an emergency and we don't hire. Since we couldn't find a job and a place to stay we went to a Hooverville town and laid a tent and started making it our living space. A person started to give us a job interview and told me to come to his office and give his interview so I went and found out it had closed down because he had been devastated and the Stock Market Crash was getting worse and wasn’t rising. So I just gave up until the crash would get better so i will be able to get a job and feed the children and myself. My children have gotten tired of this lifestyle they never would have been in this condition if the stocks weren't crashed and they would have been studying in the schools getting ready for there lives and prosper the family wealth and I wouldn’t have to work then they would bring me money. I have seen the ex-neighbors In a tent next to my tent and my friend named Thomas’s son just left for the rails to find a job I felt bad for him but, I wish my children were old enough to ride the rails and find them a nice job and bring me cash to get me out of this mess. I felt really sad that they had to leave for a little mistake that the government and the people had made to make this devastating disaster to happen. This disaster wouldn’t have happened if the government closely assessed the markets and warned the people not to invest but they probably got greedy with all the money and the economy was getting better with all the money being invested so why would they tell the people to stop. Then one day I was surprised that the government was trying to make amendments to help the depression and that President Hoover then announced a bank holiday which he figured out what banks were stable and good to put your money in while closing the ones that were unsafe. The Hoover Dam project was started to give jobs to the unemployed and to give them money and many blacks were in the project as well even though the conditions were extremely dangerous but the poor fellas had to for the money to feed their families.
Bull Market- a market characterized by rising prices for securities
The Bullmarket was rapidly increasing in the stock market
Bear Market- a market characterized by falling prices for securities
The Bear Market was the falling prices for the securities
margin buying- paying part of the cost and borrowing the rest from brokers
Many People were buying of the margin.
Black Thursday- October 24, 1929; almost 13 million shares sold that day alone
Black Tuesday- October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
Great Depression- the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
Business Cycle- recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
Herbert Hoover-Republican candidate who assumed the presidency in March 1929 promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community.
Breadlines- It was embarrassing for Americans to accept aid. However, during the Depression, breadlines stretched for blocks outside of soup kitchens. This shows that the average American in the depression was having a hard time even just to eat
How could it have happened? Could it happen again? The warning signs were there, learn how you can spot the next big one! This article contains Stock Market Crash 1929 facts. Also referred to as the Great Crash or the Wall Street Crash of 1929.
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