On what date did the stock market crash?
Correct answer: October 29, 1929
Uninitialized
Much the same is happening today. We have to learn from history or it will happen again. They neglect to mention many who were rich at the time became richer off of other people's misfortune. Again, as is happening now.
Wendy
The stock market is gambling. What an awful way to base an economy.
VividPotion6704
JiggsCasey, Yes, it happened again in 2009 ... in the UK and Europe we're still suffering the effects of so-called 'austerity'which was introduced after the global banking collapse which began in the US. To my understanding that collapse was caused by offering loans to people who could not afford them and then selling those bad debts on at a profit, again and again until the bubble burst... a system based on greed has to change
CharismaticUncle4196
Europe struggled greatly during this time too. My grandparents had 1 change of clothing and most kids did not have shoes. Getting food in stomachs was very difficult: children were dying of malnutrition. :(
EvilEve9
CharismaticUncle4196, The American Depression sort of takes the focus off countries who have been suffering for many years. Don't get me wrong, I'm a proud American but I don't think think we get the concept of Global suffering, not really.
Sherri
The stock market crashed 5 days before my dad's 1st birthday. My grandfather was a tailor; and I don't imagine that he was making very many men's suits at this time. Luckily, he also had a dry cleaners.
10bwc
JiggsCasey, What is concerning now is the $23,000,000,000,000 (23 trillion) national debt, most of which is borrowed from China & other unfriendly nations. The federal government is overspending like crazy, while constantly telling people to expect more: free health care, housing subsidies, free college tuition, open immigration, free drug rehab, etc.
SparkyChaz2018
JiggsCasey, Unfortunately our schools teach very little history.
John
10bwc, (continuation on my other post) ...the wealthiest of the country paid around 50% in taxes. Some corporations have offshore tax havens where they don't pay any taxes at all (Apple is one example). These corporations get away with not paying billions & billions of dollars of taxes. I think the govt should go after them before some receiving miniscule govt benefits. I believe this is why our country is in so much debt.
bcgibbs66
SharingCity, basically there were more stocks then Money to cover them... which is illegal ... they were selling stocks before there was money or product to back... futures .... that didn't produce....
kronik
10bwc, now it's at 35+ Trillion.
Rin
How are billions of dollars lost? where did it all go? it's just paper like did they burn it or what? serious question cause this sort of thing I don't understand.
Dah
SparkyChaz2018, I taught history in middle school,and it was special Ed kids,on their level so it is still taught
Dah
Uninitialized, the stock market put in place safeguards..the market shuts down before it gets to that point
Enral
VividPotion6704, I believe that was 2008 not 2009 when the bubble burst. I remember that year when my 401K plunged down to 75%. I got really worried.
Player #134155409
I was going to hit it when you pushed it. I didn't no I was on a timer. that's two questions you did to me that's not fair.
Duchess
watch the skirt length. best way to tell!
Lionessa
Macaroni, My comments are addressed to the room at large. I refer to the original post in case anyone is interested in following the thread. Thanks for your interest!
Tina
Yes BAD day...I learned what my sister meant. We almost were born with a silver spoon! I agree should learn from past. hindsight is 20/20.
Vellie annette
Uninitialized, history is not necessarily accurate. And we never learn from our mistakes.
Tony
Seems to occur when the year ends in a nine. There were many suicides in the crash of 1929.
Lionessa
EvilEve9, The "American Depression" was global, and many important factors were in play before Black Monday. One event didn't cause it.
Gigi
A hoax of disastrous proportions.
wesley
John, corporations do not pay taxes. they are just another expense item that is passed on to the consumer.
Waldo Lydeker
Herbert Hoover. An engineer. Stanford alumnus. A brilliant man unlucky enough to be at the wrong place, at the wrong time. A little over 6 months into his Presidency, the stock market crashes. And he's held responsible. Ludicrous. Books galore on the usual suspects, Lincoln, etc. Not one magnum opus on him. Are you listening, Walter Isaacson? You're 70. One more biography on Hoover will cap your career.
Mr_Tomcat
lol coincidence aug 28 1949 my birthday
Player #35387966
What a horrible thing to experience.
John
10bwc, You have a good point, but I think even more than that is the income disparity. in the late 70s & early 80s the top
country princess
THE RICH ALWAYS GET RICHER OFF THE POOR MANS DOLLAR
Player #25689476
Wendy, it's not gambling, it's investing in someone's business. Much different than gambling where luck is all that's involved.
Player #23947422
10bwc, Well, it's because we cut spending for all of those "free" programs, that plays a big part of why our economy is broke. But you're okay sending that money UP as free money to the wealthy, which is exactly why we're in this mess. Keeping y'all as uneducated and ill-informed as possible, with fake news and conspiracies, helps immensely with the agenda of those at the top.
Player #23947422
The Great Depression didn't start in 1929, and it wasn't caused by the Stock Market Crash of 1929. It started in 1931, following Hoover's failed trade with the Tariff Act of 1930. The Crash didn't help, either, but officially, The Great Depression didn't begin until 1931.
Triv novice
Centenarian, agreed very sad...80 years ago was bad...it's a dreaded & scary thought, nothing was learned...
Player #21647766
I didn't even choose anything!
Player #8393153
#s?
A.J. Monk
EvilEve9, unfortunately your spot on.
Player #14706931
Wendy, yeah, legal gambling
Player #14126066
Inflated value of stock price relative to actual value, struggling agricultural sector, low wages, extreme debt, rising wealth gap... huh, sounds like now. Except back then they had minimal regulation, but hey, we’re working on that too.
JR. Gee
ten year's is a long time, hope that happen again