In certain industries, it seems, there's no choice but for the proverbial bubble to burst. For evidence of this, all you have to do is look at the Wall Street Crash that occurred in 1929. Often regarded as the most devastating hit that the stock market ever endured, it's still being talked about as a historical event. For those that may not be familiar with this important piece of history, here are a few details that the likes of Robert Jain can share.
Even though it's been called such names as the Great Crash and Black Tuesday, the Wall Street Crash of 1929 was so devastating that it lasted for 4 days. During this period, the stock market received a loss of $30 billion, which equates to roughly $400,000 billion in today's economy. Furthermore, this event sparked the Great Depression, which deserves an article all its own. With these details in mind, one has to wonder what caused the Wall Street Crash in the first place.
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.
You might have noticed that the Great Depression was mentioned earlier; the reason for this is that it was one of the results of the Wall Street Crash. To say that this impacted people in 1929 would be an understatement. Unemployment hit a high point at 25 percent, and those that were still working saw their pay fall. This was a difficult time for many people, and matters didn't truly turn around until about 10 years later, which is when World War II occurred.
It's easy to write off the Wall Street Crash of 1929 as ancient history now, but it's an important event that we can learn much from. For example, it showed that if you plan on investing in shares or stocks, you should exercise caution. Don't invest any money that you aren't prepared to lose. If businesses keep information like this in mind, they will be able to prosper, thereby avoiding issues that arose several decades ago.
Even though it's been called such names as the Great Crash and Black Tuesday, the Wall Street Crash of 1929 was so devastating that it lasted for 4 days. During this period, the stock market received a loss of $30 billion, which equates to roughly $400,000 billion in today's economy. Furthermore, this event sparked the Great Depression, which deserves an article all its own. With these details in mind, one has to wonder what caused the Wall Street Crash in the first place.
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.
You might have noticed that the Great Depression was mentioned earlier; the reason for this is that it was one of the results of the Wall Street Crash. To say that this impacted people in 1929 would be an understatement. Unemployment hit a high point at 25 percent, and those that were still working saw their pay fall. This was a difficult time for many people, and matters didn't truly turn around until about 10 years later, which is when World War II occurred.
It's easy to write off the Wall Street Crash of 1929 as ancient history now, but it's an important event that we can learn much from. For example, it showed that if you plan on investing in shares or stocks, you should exercise caution. Don't invest any money that you aren't prepared to lose. If businesses keep information like this in mind, they will be able to prosper, thereby avoiding issues that arose several decades ago.
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