If there's anything that the Wall Street Crash of 1929 has shown us, it's that no industry is immortal. To say that this event was traumatic would be an understatement, especially for those that invested ample amounts of money into stocks. This particular crash is still being discussed today, and for good reason. For those that have heard about this event, but may not know the specifics, here is some information provided by Robert Jain.
Otherwise known as the Stock Market Crash of 1929, the Wall Street Crash of 1929 is the single-most traumatic impact made to the aforementioned market in history. Not only did this event unfold over the course of 4 days, but it was so great that it eventually sparked the Great Depression. Given the fact that $30 billion was lost back then, it's easy to see why. What could have been done to avoid this, though? Could it have even been avoided at all?
For those that understand the Wall Street Crash, there have been numerous causes linked to it. For example, there was a tremendous amount of prosperity during the 1920s, which lead to overconfidence. When this happened, more goods were produced. However, this also led to a decline in demand, meaning that fewer people wanted what companies were putting out. These are just a few causes that Bob Jain and others can cite.
The Great Depression, as mentioned earlier, was the result of the Wall Street Crash. What many people don't know, though, is just how devastating it was on a grand scale. Shares had to be sold by the millions, but the vast majority of people felt the Great Depression in their work lives. Jobs were lost and wages were cut in 1929 following the Wall Street Crash. Improvements didn't occur until at least a decade later, as World War II started to take shape.
The Wall Street Crash of 1929 is history, but it serves as a cautionary tale today. It's one of the many reasons why companies have money management plans in place. They also understand the risks that come with said money and the operation of business in general. Simply put, there are more precautions set in place than ever before. Given the impact of the Wall Street Crash several decades ago, it's easy to see why.
Otherwise known as the Stock Market Crash of 1929, the Wall Street Crash of 1929 is the single-most traumatic impact made to the aforementioned market in history. Not only did this event unfold over the course of 4 days, but it was so great that it eventually sparked the Great Depression. Given the fact that $30 billion was lost back then, it's easy to see why. What could have been done to avoid this, though? Could it have even been avoided at all?
For those that understand the Wall Street Crash, there have been numerous causes linked to it. For example, there was a tremendous amount of prosperity during the 1920s, which lead to overconfidence. When this happened, more goods were produced. However, this also led to a decline in demand, meaning that fewer people wanted what companies were putting out. These are just a few causes that Bob Jain and others can cite.
The Great Depression, as mentioned earlier, was the result of the Wall Street Crash. What many people don't know, though, is just how devastating it was on a grand scale. Shares had to be sold by the millions, but the vast majority of people felt the Great Depression in their work lives. Jobs were lost and wages were cut in 1929 following the Wall Street Crash. Improvements didn't occur until at least a decade later, as World War II started to take shape.
The Wall Street Crash of 1929 is history, but it serves as a cautionary tale today. It's one of the many reasons why companies have money management plans in place. They also understand the risks that come with said money and the operation of business in general. Simply put, there are more precautions set in place than ever before. Given the impact of the Wall Street Crash several decades ago, it's easy to see why.
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