1064:(Owensboro, Kentucky). September 8, 1929. p. 2. "I repeat what I said at this time last year, and the year before, that sooner or later a crash is coming which will take the leading stocks and cause a decline of from sixty to eighty points in the Dow-Jones Barometer. Fair weather cannot always continue. The economic cycle is in progress today, as it was in the past. The Federal Reserve System has put the banks in a strong position, but it has not changed human nature. More people are borrowing and speculating today than ever in our history. Wise are those investors who now get out of debt and reef their sails. This does not mean selling all you have but it does mean paying up your loans and avoiding margin speculation."
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661:, which the government had instituted in 1931 to limit the amount of unemployment payments made to individuals and families. For working people, the means test seemed an intrusive and insensitive way to deal with the chronic and relentless deprivation caused by the economic crisis. The strikes were met forcefully, with police breaking up protests, arresting demonstrators, and charging them with crimes related to the violation of public order.
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307:" hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Around $ 14 billion of stock value was lost, wiping out thousands of investors. The panic selling reached its peak with some stocks having no buyers at any price. The Dow lost an additional 30.57 points, or 11.73%, for a total drop of 68.90 points, or 23.05% in two days.
649:, the world noticed immediately. Although financial leaders in the United Kingdom, as in the United States, vastly underestimated the extent of the crisis that ensued, it soon became clear that the world's economies were more interconnected than ever. The effects of the disruption to the global system of financing, trade, and production and the subsequent meltdown of the
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crash sparked the Great
Depression or if it merely coincided with bursting a loose credit-inspired economic bubble. Only 16% of American households were invested in the stock market within the United States during the period leading up to this depression, suggesting that the crash carried somewhat less weight in causing it.
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At the turn of the 20th-century stock market speculation was restricted to professionals, but the 1920s saw millions of 'ordinary
Americans' investing in the New York Stock Exchange. By August 1929, brokers had lent small investors more than two-thirds of the face value of the stocks they were buying
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Good harvests had built up a mass of 250 million bushels of wheat to be "carried over" when 1929 opened. By May there was also a winter wheat crop of 560 million bushels ready for harvest in the
Mississippi Valley. The oversupply caused such a drop in wheat prices that the net incomes of farmers from
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The resultant rise of mass unemployment is seen as a result of the crash, although the crash is by no means the sole event that contributed to the depression. The Wall Street Crash is usually seen as having the greatest impact on the events that followed and therefore is widely regarded as signaling
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After a one-day recovery on
October 30, when the Dow regained 28.40 points, or 12.34%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with the Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the
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Despite all the economic warning signs and the market breaks in March and May 1929, stocks resumed their advance in June, and the gains continued almost unabated until early
September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run
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also cautioned that some bank failures were also to be expected and some banks may not have had any reserves left for financing commercial and industrial enterprises. It concluded that the position of the banks was the key to the situation, but what was going to happen could not have been foreseen.
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argued in a 1998 article that the
Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce a serious setback to industry when industrial production is for the most
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Together, the 1929 stock market crash and the Great
Depression formed the largest financial crisis of the 20th century. The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. The falls in share prices on October 24 and 29,
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We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the
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increase, in the first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains. Such figures set up a crescendo of stock-exchange speculation that led hundreds of thousands of
Americans to invest heavily in the stock market. Many people were
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boom that had taken hold in the late 1920s. During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, and even railway receipts advanced from record to record. The combined net profits of 536 manufacturing and trading companies showed an
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Beginning on March 15, 1933, and continuing through the rest of the 1930s, the Dow began to slowly regain the ground it had lost. The largest percentage increases of the Dow Jones occurred during the early and mid-1930s. In late 1937, there was a sharp dip in the stock market, but prices held well
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that "a crash is coming, and it may be terrific". The initial
September decline was thus called the "Babson Break" in the press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction"
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However, the psychological effects of the crash reverberated across the nation as businesses became aware of the difficulties in securing capital market investments for new projects and expansions. Business uncertainty naturally affects job security for employees, and as the
American worker (the
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effectively present, which, if it had existed and been properly exercised, would have been key in shortening the business slowdown that normally follows financial crises. The crash instigated widespread and long-lasting consequences for the United States. Historians still debate whether the 1929
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The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic historical, economic, and political debate from its aftermath until the present day. Some people believed that abuses by utility holding companies contributed to the Wall Street
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Other important economic barometers were also slowing or even falling by mid-1929, including car sales, house sales, and steel production. The falling commodity and industrial production may have dented even American self-confidence, and the stock market peaked on September 3 at 381.17 just
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arrived on time. In June 1929, the position was saved by a severe drought in the Dakotas and the Canadian West, as well as unfavorable seed times in Argentina and eastern Australia. The oversupply was now wanted to fill the gaps in the 1929 world wheat production. From 97¢ per bushel in May, the
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In August, the wheat price fell when France and Italy were bragging about a magnificent harvest, and the situation in Australia improved. That sent a shiver through Wall Street and stock prices quickly dropped, but word of cheap stocks brought a fresh rush of "stags" (amateur speculators) and
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and many of his associates were jailed for fraud and forgery, leading to the suspension of his companies. This may have weakened the confidence of Americans in their own companies, although it had minimal impact on the London Stock Exchange. In the days leading up to the crash, the market was
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the downward economic slide that initiated the Great Depression. True or not, the consequences were dire for almost everybody. Most academic experts agree on one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying.
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to buy more stocks. By August 1929, brokers were routinely lending small investors more than two-thirds of the face value of the stocks that they were buying. Over $ 8.5 billion was out on loan, more than the entire amount of currency circulating in the United States at the time.
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that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
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rally) of 294.07 on April 17, 1930. The Dow then embarked on another, much longer, steady slide from April 1930 to July 8, 1932, when it closed at 41.22, its lowest level of the 20th century, concluding an 89.2% loss for the index in less than three years.
445:(−12.9%), were worse in percentage terms than any single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929, was larger than that of October 19, 1987, and remains the worst two-day decline as of August 13, 2024).
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According to the Federal Reserve Bank of St. Louis Economic Data website, based on a monthly time series 1929 September – 1932 June, the Dow Jones Industrial Average lost 87.1% while the Cowles Commission and S&P's all stock index lost 85.0%:
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declined from 20 to 8 percent. However, the American economy showed ominous signs of trouble. Steel production declined, construction was sluggish, automobile sales went down, and consumers were building up large debts because of easy credit.
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and other financial giants to buy large quantities of stocks to demonstrate to the public their confidence in the market, but their efforts failed to stop the large decline in prices. The massive volume of stocks traded that day made the
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issued his prescient "market crash" forecast. By the end of September, the market had dropped 10% from the peak (the "Babson Break"). Selling intensified in early and mid-October, with sharp down days punctuated by a few up days.
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part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient evidence to prove that it would be long or would necessarily produce a general industrial depression.
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In 1930 and 1931, in particular, unemployed workers went on strike, demonstrated in public, and otherwise took direct action to call public attention to their plight. Within the UK, protests often focused on the so-called
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In 1930, 1,352 banks held more than $ 853 million in deposits; in 1931, one year later, 2,294 banks failed with nearly $ 1.7 billion in deposits. Many businesses failed (28,285 failures and a daily rate of 133 in 1931).
628:
The failure set off a worldwide run on US gold deposits (i.e., the dollar) and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also, the
436:
Afterwards, stock markets around the world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of
633:, which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down in a
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wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets, and the slump in Wall Street that had been predicted for May by
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investors. Congress voted for a $ 100 million relief package for the farmers on the hope of stabilizing wheat prices, but by October, the price had fallen to $ 1.31 per bushel.
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of massive proportion started the week of October 21 and intensified and culminated on October 24, October 28, and especially October 29 ("Black Tuesday").
490:'s "Blue Ridge trust" and "Shenandoah Trust", which crashed in 1929 as well, resulting in losses to banks of $ 475 billion in 2010 dollars ($ 663.68 billion in 2023).
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warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker
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difficulties, including contraction of credit, business closures, firing of workers, bank failures, decline of the money supply, and other economically depressing events.
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Crash of 1929 and the Great Depression that followed. Many people blamed the crash on commercial banks that were too eager to put deposits at risk on the stock market.
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price of wheat rose to $ 1.49 in July. When it was seen that figure would make American farmers get more for their crop that year than in 1928, stocks went up again.
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Scholars believe that declines in the money supply caused by Federal Reserve decisions had a severely contractionary effect on output. Despite the inherent risk of
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The rising share prices encouraged more people to invest on the hope that share prices would rise further. Speculation thus fueled further rises and created an
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when taking into consideration the full extent and duration of its aftereffects. The Great Crash is mostly associated with October 24, 1929, called
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famously proclaimed "Stock prices have reached what looks like a permanently high plateau". The optimism and the financial gains of the great
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There is a debate among economists and historians as to what role the crash played in subsequent economic, social, and political events.
165:, would provide $ 25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, and
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in brokerage offices around the nation was hours late, and so investors had no idea what most stocks were trading for. Several leading
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704:, or the 1929 stock market crash in themselves but the collapse of the banking system during three waves of panics from 1930 to 1933.
223:", the market lost 11% of its value at the opening bell on very heavy trading. The huge volume meant that the report of prices on the
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and the subsequent catastrophic collapse of the NYSE in late 1929 is often highlighted in explanations of the causes of the worldwide
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consumer) faced uncertainty with regard to income, naturally the propensity to consume declined. The decline in stock prices caused
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and succeeded in halting the slide. The Dow Jones Industrial Average recovered, closing down only 6.38 points (2.09%) for the day.
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above the 1932 lows. The Dow Jones did not return to its peak close of September 3, 1929, for 25 years, until November 23, 1954.
486:, the exuberance also resulted in a large number of people placing their savings and money in leverage investment products like
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decided to get out of the market, and the slide continued with a record loss in the Dow for the day of 38.33 points, or 12.82%.
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1479:[The Major Shocks of the 20th Century (3) – In 1929, six days of panic on Wall Street announce the worst, to come].
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severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery.
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at $ 205 per share, a price well above the current market. As traders watched, Whitney then placed similar bids on other "
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The most savage bear market of all time was the Wall Street Crash of 1929–1932, in which share prices fell by 89 percent.
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The stock market crash of October 1929 led directly to the Great Depression in Europe. When stocks plummeted on the
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Salsman, Richard M. "The Cause and Consequences of the Great Depression, Part 1: What Made the Roaring '20s Roar",
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1477:"Les grands chocs du XXE siècle (3) – En 1929, six jours de panique à Wall Street annoncent le pire, à venir"
2151:"Digital History Reader – European History – Module 04: The End of Optimism? The Great Depression in Europe"
153:, it was widely believed that the stock market would continue to rise forever. On March 25, 1929, after the
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1430:"Index of All Common Stock Prices, Cowles Commission and Standard and Poor's Corporation for United States"
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increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before the crash, economist
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With the bankers' financial resources behind him, Whitney placed a bid to purchase 25,000 shares of
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The Day America Crashed: A Narrative Account of the Great Stock Market Crash of October 24, 1929
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The Day America Crashed: A Narrative Account of the Great Stock Market Crash of October 24, 1929
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105:, the day of the largest sell-off of shares in U.S. history, and October 29, 1929, called
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met to find a solution to the panic and chaos on the trading floor. The meeting included
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86:(NYSE) collapsed, and ended in mid-November. The pivotal role of the 1920s' high-flying
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2079:"The Market Turmoil: Past lessons, present advice; Did '29 Crash Spark The Depression?"
1998:"The Market Turmoil: Past lessons, present advice; Did '29 Crash Spark The Depression?"
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was 32.6 in September 1929, clearly above historical norms. According to the economist
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on Wall Street from just before the crash in 1929 to 1932 when the price bottomed out
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Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak (
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to study the causes of the crash. The following year, the U.S. Congress passed the
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1202:"Lamont Says Banks See No Cause For Alarm As Stock Crash Is Only Technical Break"
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441:, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, as well as
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were shaken after a well-publicized September 8 prediction from financial expert
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Dow Jones Industrial Average on Black Monday and Black Tuesday
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1873:. Brisbane, Qld: National Library of Australia. October 26, 1929. p. 19
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1929 were practically instantaneous in all financial markets, except Japan.
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that occurred in late 1929. It began in September, when share prices on the
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The Day the Bubble Burst: A Social History of the Wall Street Crash of 1929
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The Causes of the 1929 Stock Market Crash: A Speculative Orgy or a New Era?
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37:"Black Tuesday" and "Wall Street Crash" redirect here. For other uses, see
1929:. Sydney, NSW: National Library of Australia. October 30, 1929. p. 17
1901:. Sydney, NSW: National Library of Australia. October 26, 1929. p. 17
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1383:"Dow Jones Industrial Average All-Time Largest One Day Gains and Losses"
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837:"Worst Stock Crash Stemmed by Banks; 12,894,650 Share Day Swaps Market"
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939:"Great Depression - Causes of the Great Depression | Britannica"
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The 1929 crash of the New York stock exchange as a liquidity crisis
1616:. Perth, Western Australia. p. 6 (Edition: Home Final Edition)
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William E. Leuchtenburg; William Edward Leuchtenburg (June 2008).
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1224:. The Ithaca Journal (Ithaca, New York). October 25, 1929. p. 14.
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List of largest daily changes in the Dow Jones Industrial Average
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2337:. Farmington Hills, Michigan: UXL American Decades Publishing
422:
1250:"Market crash of 1929: Some facts of the economic downturn"
1076:"CASSEL, OHLIN, ÅKERMAN, AND THE WALL STREET CRASH OF 1929"
410:
276:
269:" stocks. The tactic was similar to one that had ended the
1412:"Dow-Jones Industrial Stock Price Index for United States"
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to a halt. As tentatively expressed by economic historian
258:, vice president of the Exchange, to act on their behalf.
843:, Friday, October 25, 1929. Retrieved November 27, 2020.
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Once in Golconda: A True Drama of Wall Street 1920–1938
2243:. Santa Clara, California: Economic History Association
2033:"Pyramid structures brought down by Wall Street Crash"
897:"America gets depressed by thoughts of 1929 revisited"
97:
It was the most devastating stock market crash in the
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Post-Napoleonic Irish grain price and land use shocks
1579:"The End of Optimism? The Great Depression in Europe"
113:'s crash of September, signaled the beginning of the
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The Great Depression and New Deal: Documents Decoded
1764:"The Stock Market's Valuation Rarely Gets This High"
219:
Selling intensified in mid-October. On October 24, "
2050:"Death of the Brokerage: The Future of Wall Street"
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New York: G.P. Putnam. Retrieved November 27, 2020
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1947:
564:Crowd at New York's American Union Bank during a
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1234:"The Panic of 2008? What Do We Name the Crisis?"
1173:"Rally Follows Record Crash; Ticker 2 Hrs. Late"
519:after Labor Day, and it started to falter after
2330:14–25. San Diego, California: Bender, David L.
2231:. London: Mason & Lipscomb Publishers Inc.
1147:Post, Special to Financial (October 24, 2011).
1058:Babson Predicts Crash in Stocks Sooner or Later
2119:"Practice has plenty of historical precedents"
1664:on margin – more than $ 8.5bn was out on loan.
1436:. Federal Reserve Bank of St. Louis. May 1933.
1418:. Federal Reserve Bank of St. Louis. May 1933.
1307:"History's Advice During A Panic? Don't Panic"
1179:(Brooklyn, New York). October 24, 1929. p. 11.
4110:List of stock market crashes and bear markets
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2383:22–55. New York: Little, Brown & Company
1208:(Brooklyn, New York). October 24, 1929. p. 1.
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964:"Timeline: A selected Wall Street chronology"
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250:; and Charles E. Mitchell, president of the
194:On September 20, 1929, top British investor
2381:The Great Depression: America in the 1930s,
2098:. Britannica Educational Publishing. 2012.
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323:continue to run until about 7:45 p.m.
288:in 1930, six months after the Crash of 1929
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2328:The Great Depression: Opposing Viewpoints,
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1952:. Cambridge University Press. p. 26.
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1080:Journal of the History of Economic Thought
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913:"The Great (Farm) Depression of the 1920s"
531:The president of the Chase National Bank,
3931:2015–2016 Chinese stock market turbulence
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1461:"U.S. Industrial Stocks Pass 1929 Peak",
1149:"The Great Crash of 1929, some key dates"
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754:. Internet Archive. Henry Holt & Co.
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2175:"Economics focus: The Great Depression"
2062:"Kaboom!...and bust. The crash of 2008"
2013:
2011:
1950:Insider trading law, ethics, and reform
1733:"Irrational Exuberance, Second Edition"
1730:
1700:Facing the facts: an economic diagnosis
1638:
1218:"Brief Review Transactions On Exchange"
1119:. Greenwood Publishing Group. pp.
1073:
945:
777:"The beginner's guide to stock markets"
697:A Monetary History of the United States
14:
4170:
3836:Venezuelan banking crisis of 2009–2010
3606:South American economic crisis of 2002
3503:Black Wednesday (1992 Sterling crisis)
1805:
1474:
915:. American History USA. Archived from
904:
4198:Great Depression in the United States
3887:2013 Chinese banking liquidity crisis
3843:2010–2014 Portuguese financial crisis
3319:Secondary banking crisis of 1973–1975
2637:
2421:
2302:. New York: Oxford University Press.
2145:
2143:
1996:Scardino, Albert (October 21, 1987).
1786:(1954). "In Goldman Sachs We Trust".
1602:
1304:
1142:
1140:
1032:. Houghton Mifflin Harcourt. p.
910:
3917:Russian financial crisis (2014–2016)
3770:2008–2011 Icelandic financial crisis
3763:2008–2009 Ukrainian financial crisis
3728:2000s U.S. housing market correction
3568:1998–2002 Argentine great depression
2663:
2447:
2369:. Garden City, New York: Doubleday.
2194:"Reactions of the Wall Street slump"
2008:
1837:DiNunzio, Mario R. (July 23, 2014).
1549:
1526:"The Man Who Busted the 'Banksters'"
1305:Weeks, Linton (September 17, 2008).
1298:
1146:
4074:2023–2024 Egyptian financial crisis
3909:Puerto Rican government-debt crisis
3902:2014–2016 Brazilian economic crisis
3275:1963–1965 Indonesian hyperinflation
3178:Shanghai rubber stock market crisis
2867:Dutch Republic stock market crashes
1811:"The great American bubble machine"
24:
3880:2012–2013 Cypriot financial crisis
3784:2008–2014 Spanish financial crisis
3756:2008–2009 Russian financial crisis
3749:2008–2009 Belgian financial crisis
3444:1988–1992 Norwegian banking crisis
2939:British credit crisis of 1772–1773
2221:
2140:
2031:Jameson, Angela (August 10, 2005),
1948:Anderson, John P. (June 7, 2018).
1731:Shiller, Robert (March 17, 2005).
1639:Lambert, Richard (July 19, 2008).
1137:
664:
653:were soon felt throughout Europe.
43:Wall Street Crash (disambiguation)
25:
4229:
4067:2023 United States banking crisis
3873:2011 Bangladesh share market scam
3561:1998–1999 Ecuador economic crisis
3525:Venezuelan banking crisis of 1994
3451:Japanese asset price bubble crash
3392:Souk Al-Manakh stock market crash
3142:Australian banking crisis of 1893
2946:Dutch Republic financial collapse
2387:
2314:1929: The Year of the Great Crash
1981:"Paulson affirms Bush assessment"
1552:"What Is The Glass-Steagall Act?"
1485:(in French). No. 3. Geneva.
1475:Perrin, Olivier (July 23, 2011).
1256:. Times Inernet. October 22, 2017
409:, which take deposits and extend
4155:
4143:
4131:
2924:Amsterdam banking crisis of 1763
2393:
2300:Rainbow's End: The Crash of 1929
1523:
1026:Galbraith, John Kenneth (1997).
812:"The Stock Market Crash of 1929"
774:
719:Criticism of the Federal Reserve
549:
286:New York Stock Exchange Building
161:announced that his company, the
4183:1929 in international relations
3649:2007 Chinese stock bubble crash
2975:Danish state bankruptcy of 1813
2272:Cadorel, Jean‐Laurent (2024). "
2203:
2168:
2133:"Funds want 'uptick' rule back"
2126:
2112:
2086:
2055:
2043:
1989:
1974:
1941:
1913:
1885:
1857:
1830:
1776:
1755:
1724:
1697:Kemmerer, Edwin Walter (1932).
1690:
1632:
1596:
1571:
1543:
1517:
1468:
1455:
1440:
1422:
1402:
1375:
1354:
1324:
1268:
1242:
1227:
1211:
1195:
1182:
1166:
1067:
1050:
1019:
986:
405:mandating a separation between
4030:Chinese property sector crisis
3938:2015–2016 stock market selloff
3866:August 2011 stock markets fall
3777:2008–2011 Irish banking crisis
3474:1990s Swedish financial crisis
3223:Weimar Republic hyperinflation
2316:. New York: Harper & Row.
2312:Klingaman, William K. (1989).
2292:, no. 2 (Spring 2015): 145–146
2262:. New York: Harper & Row.
2229:The Stock Market Crash of 1929
2018:"Crashes, Bangs & Wallops"
1893:"Wild Selling. New York Panic"
1641:"Crashes, Bangs & Wallops"
931:
890:
860:
829:
768:
741:
714:Causes of the Great Depression
556:Causes of the Great Depression
443:Black Monday of March 16, 2020
252:National City Bank of New York
39:Black Tuesday (disambiguation)
13:
1:
4103:List of sovereign debt crises
4045:2022 Russian financial crisis
3742:2008 Latvian financial crisis
3735:U.S. bear market of 2007–2009
3613:Stock market downturn of 2002
3554:1998 Russian financial crisis
3407:1983 Israel bank stock crisis
2237:"The 1929 Stock Market Crash"
1703:. Books for Libraries Press.
1626:National Library of Australia
1550:Reed, Eric (April 18, 2019).
1434:Federal Reserve Economic Data
1416:Federal Reserve Economic Data
1074:Carlson, Benny (March 2023).
993:Teach, Edward (May 1, 2007).
734:
568:early in the Great Depression
120:
3805:Greek government-debt crisis
3642:2004 Argentine energy crisis
3599:2001 Turkish economic crisis
3488:1990s Armenian energy crisis
3481:1990s Finnish banking crisis
3342:1976 British currency crisis
3312:1973–1974 stock market crash
2239:. In Whaples, Robert (ed.).
1792:. Boston: Houghton Mifflin.
1762:Doug Short (April 3, 2013).
1677:New York: A Documentary Film
1608:"Broad Facts of, USA Crisis"
995:"The Bright Side of Bubbles"
388:
176:Dow Jones Industrial Average
131:Dow Jones Industrial Average
99:history of the United States
7:
3961:2017 Sri Lankan fuel crisis
3627:2003 Myanmar banking crisis
3620:2002 Uruguay banking crisis
3540:1997 Asian financial crisis
3467:1991 Indian economic crisis
3459:Rhode Island banking crisis
3429:Cameroonian economic crisis
3215:Early Soviet hyperinflation
2828:Crisis of the Third Century
2335:American Decades: 1920–1929
2278:The Economic History Review
1465:, November 24, 1954, p. 12.
1113:Harold Bierman Jr. (1998).
707:
584:The 1929 crash brought the
448:
314:joined with members of the
27:American stock market crash
10:
4234:
3992:Sri Lankan economic crisis
3850:Energy crisis in Venezuela
3829:2009 Dubai debt standstill
3679:2007–2008 financial crisis
3334:Latin American debt crisis
3097:Paris Bourse crash of 1882
2040:, Retrieved March 17, 2010
1737:Princeton University Press
1683:February 20, 2011, at the
553:
544:
36:
29:
4083:
4060:2022 stock market decline
4052:Pakistani economic crisis
4038:2021–2023 inflation surge
3984:Lebanese liquidity crisis
3953:Venezuelan hyperinflation
3945:Brexit stock market crash
3894:Venezuela economic crisis
3816:
3666:
3656:Zimbabwean hyperinflation
3366:
3284:
3255:
3239:Wall Street Crash of 1929
3202:
3079:2nd Industrial Revolution
3077:
3013:
2913:1st Industrial Revolution
2911:
2838:
2816:
2671:
2613:
2592:
2501:
2468:Wall Street Crash of 1929
2455:
2400:Wall Street Crash of 1929
2347:. New York: G.P. Putnam.
2333:Pendergast, Tom ( 2003).
2286:. "1929: New York City".
1926:The Sydney Morning Herald
1898:The Sydney Morning Herald
1362:The Intellectual Activist
1092:10.1017/S1053837221000572
640:
296:", more investors facing
64:Wall Street Crash of 1929
4178:1929 in economic history
3721:Subprime mortgage crisis
3384:Brazilian hyperinflation
3356:Brazilian hyperinflation
3193:Financial crisis of 1914
2901:Mississippi bubble crash
2379:Watkins, Tom H. (1993).
2235:Bierman, Harold (2008).
2227:Axon, Gordon V. (1974).
785:. London. Archived from
604:Unemployed men march in
592:, in 1929, there was no
501:predicted the May slump.
480:S&P Composite stocks
421:, issue, and distribute
202:
191:and buying opportunity.
141:", the decade following
30:Not to be confused with
4096:List of economic crises
4014:2020 stock market crash
4007:Financial market impact
3976:Turkish economic crisis
3591:9/11 stock market crash
3547:October 1997 mini-crash
3518:1994 bond market crisis
3510:Yugoslav hyperinflation
3421:Savings and loan crisis
3022:European potato failure
2473:Smoot-Hawley Tariff Act
2284:Galbraith, John Kenneth
1784:Galbraith, John Kenneth
1388:The Wall Street Journal
1237:The Wall Street Journal
1062:The Owensboro Messenger
873:The Way the World Works
647:New York Stock Exchange
590:Charles P. Kindleberger
476:price to earnings ratio
397:was established by the
84:New York Stock Exchange
78:, was a major American
4138:Business and economics
4089:List of banking crises
3858:Syrian economic crisis
3791:Blue Monday Crash 2009
3400:Chilean crisis of 1982
3231:Shōwa financial crisis
3037:Highland Potato Famine
2893:South Sea bubble crash
2684:Commodity price shocks
2488:Recession of 1937–1938
1583:Digital History Reader
1447:"DJIA 1929 to Present"
1282:. NYSE. Archived from
609:
569:
542:
502:
497:The British economist
484:John Kenneth Galbraith
303:On October 29, 1929, "
289:
216:
134:
59:
18:Wall Street Crash 1929
4213:September 1929 events
4188:1929 in New York City
3414:Black Saturday (1983)
3268:Kennedy Slide of 1962
2840:Commercial revolution
2326:Leone, Bruno (1994).
2052:National Public Radio
1789:The Great Crash, 1929
1342:on September 23, 2008
1239:. September 16, 2008.
1029:The Great Crash, 1929
1007:on September 22, 2008
974:on September 23, 2008
603:
594:lender of last resort
563:
554:Further information:
537:
535:, said at the time:
496:
453:The crash followed a
279:
210:
128:
111:London Stock Exchange
53:
4208:Stock market crashes
3968:Ghana banking crisis
3798:European debt crisis
3583:Dot-com bubble crash
3495:Cuban Special Period
2954:Copper Panic of 1789
2859:The Great Debasement
2851:Great Bullion Famine
2402:at Wikimedia Commons
2213:The Washington Times
2181:(September 17, 1998)
2095:The Great Depression
1985:The Washington Times
1606:(November 1, 1929).
1505:on February 25, 2019
1190:The Great Depression
876:. Gateway Editions.
66:, also known as the
58:after the 1929 crash
4218:October 1929 events
3924:2015 Nepal blockade
3634:2000s energy crisis
3532:Mexican peso crisis
3437:Black Monday (1987)
3297:1970s energy crisis
3257:Post–WWII expansion
2931:Bengal bubble crash
2726:Financial contagion
2412:American Experience
2241:EH.Net Encyclopedia
2200:(November 23, 1929)
1372:, June 2004, p. 16.
1332:"The Crash of 1929"
919:on November 5, 2013
328:
248:Chase National Bank
159:Charles E. Mitchell
54:Crowd gathering on
3186:Panic of 1910–1911
3030:Great Irish Famine
2968:Panic of 1796–1797
2807:Stock market crash
2289:Lapham's Quarterly
2082:The New York Times
2002:The New York Times
1743:on January 1, 2007
1653:on October 3, 2008
841:The New York Times
610:
570:
503:
403:Glass–Steagall Act
326:
316:Rockefeller family
290:
217:
163:National City Bank
135:
80:stock market crash
60:
4119:
4118:
4000:COVID-19 pandemic
2885:Tulip mania crash
2876:Kipper und Wipper
2853:(c. 1400–c. 1500)
2631:
2630:
2407:The Crash of 1929
2398:Media related to
2363:Morgan-Witts, Max
1850:978-1-61069-535-0
1809:(April 5, 2010).
1188:Robert Goldston,
761:978-0-8050-6958-7
724:Great Contraction
395:Pecora Commission
373:
372:
312:William C. Durant
238:, acting head of
16:(Redirected from
4225:
4203:Roaring Twenties
4193:Economic bubbles
4160:
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3395:
3387:
3373:Great Regression
3368:Great Moderation
3359:
3351:
3344:
3337:
3329:
3321:
3314:
3307:
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3277:
3270:
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2795:
2786:
2779:
2772:
2765:
2758:
2756:Liquidity crisis
2751:
2744:
2735:
2733:Social contagion
2728:
2721:
2714:
2707:
2700:
2693:
2686:
2679:
2665:Financial crises
2658:
2651:
2644:
2635:
2634:
2483:Effect in cities
2449:Great Depression
2442:
2435:
2428:
2419:
2418:
2397:
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2215:
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2015:
2006:
2005:
1993:
1987:
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1945:
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1936:
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1917:
1911:
1910:
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1906:
1889:
1883:
1882:
1880:
1878:
1870:The Courier-Mail
1861:
1855:
1854:
1834:
1828:
1827:
1825:
1823:
1803:
1780:
1774:
1773:
1769:Business Insider
1759:
1753:
1752:
1750:
1748:
1739:. Archived from
1728:
1722:
1721:
1719:
1717:
1694:
1688:
1673:
1667:
1666:
1660:
1658:
1649:. Archived from
1636:
1630:
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1623:
1621:
1600:
1594:
1593:
1591:
1589:
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1568:
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1564:
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1510:
1501:. Archived from
1472:
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1400:
1399:
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1347:
1338:. Archived from
1328:
1322:
1321:
1319:
1317:
1302:
1296:
1295:
1293:
1291:
1286:on June 11, 2010
1272:
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1225:
1222:Associated Press
1215:
1209:
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1103:
1071:
1065:
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1048:
1047:
1023:
1017:
1016:
1014:
1012:
1003:. Archived from
990:
984:
983:
981:
979:
970:. Archived from
960:
943:
942:
935:
929:
928:
926:
924:
908:
902:
900:The Sunday Times
894:
888:
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864:
858:
833:
827:
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822:
808:
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796:
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772:
766:
765:
745:
651:American economy
586:Roaring Twenties
540:place of buying.
533:Albert H. Wiggin
508:Sir George Paish
499:Sir George Paish
415:investment banks
407:commercial banks
360:October 29, 1929
346:October 28, 1929
329:
325:
292:On October 28, "
236:Thomas W. Lamont
139:Roaring Twenties
115:Great Depression
92:Great Depression
32:Blackout Tuesday
21:
4233:
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4228:
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3827:
3820:
3818:Information Age
3812:
3803:
3796:
3789:
3782:
3775:
3768:
3761:
3754:
3747:
3740:
3733:
3726:
3719:
3712:
3705:
3698:
3691:
3684:
3677:
3670:
3668:Great Recession
3662:
3654:
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3625:
3618:
3611:
3604:
3597:
3589:
3581:
3573:
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3493:
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3435:
3427:
3419:
3412:
3405:
3398:
3390:
3382:
3375:
3371:
3362:
3354:
3349:1979 oil crisis
3347:
3340:
3332:
3324:
3317:
3310:
3305:1973 oil crisis
3303:
3295:
3288:
3286:Great Inflation
3280:
3273:
3266:
3259:
3251:
3244:
3237:
3229:
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3206:
3204:Interwar period
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2705:Currency crisis
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2222:Further reading
2219:
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2210:"Panic control"
2208:
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2136:Financial Times
2131:
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2021:Financial Times
2016:
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1932:
1930:
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1865:"Grain Plunges"
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1674:
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1646:Financial Times
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845: •
844:
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805:
792:
790:
789:on May 25, 2010
773:
769:
762:
746:
742:
737:
710:
688:Milton Friedman
667:
665:Academic debate
643:
558:
552:
547:
468:economic bubble
460:borrowing money
451:
391:
310:On October 29,
256:Richard Whitney
205:
155:Federal Reserve
123:
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35:
28:
23:
22:
15:
12:
11:
5:
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4106:
4099:
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4084:
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4070:
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4054:(2022–present)
4048:
4041:
4034:
4032:(2020–present)
4026:
4025:
4024:
4017:
4010:
3996:
3994:(2019–present)
3988:
3986:(2019–present)
3980:
3978:(2018–present)
3972:
3964:
3957:
3949:
3941:
3934:
3927:
3920:
3913:
3905:
3898:
3896:(2013–present)
3890:
3883:
3876:
3869:
3862:
3860:(2011–present)
3854:
3852:(2010–present)
3846:
3839:
3832:
3824:
3822:
3821:(2009–present)
3814:
3813:
3811:
3810:
3809:
3808:
3801:
3794:
3787:
3780:
3773:
3766:
3759:
3752:
3745:
3738:
3731:
3724:
3717:
3710:
3703:
3696:
3689:
3686:September 2008
3674:
3672:
3664:
3663:
3661:
3660:
3658:(2007–present)
3652:
3645:
3638:
3630:
3623:
3616:
3609:
3602:
3595:
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3579:
3571:
3564:
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3253:
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3200:
3199:
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3182:
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3017:
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3011:
3010:
3008:
3007:
3000:
2993:
2986:
2978:
2971:
2964:
2957:
2950:
2948:(c. 1780–1795)
2942:
2935:
2927:
2919:
2917:
2909:
2908:
2906:
2905:
2897:
2889:
2881:
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2869:(c. 1600–1760)
2863:
2855:
2846:
2844:
2836:
2835:
2833:
2832:
2823:
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2814:
2813:
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2796:
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2773:
2766:
2752:
2749:Hyperinflation
2745:
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2389:
2388:External links
2386:
2385:
2384:
2377:
2359:Thomas, Gordon
2356:
2341:Shachtman, Tom
2338:
2331:
2324:
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2139:
2125:
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2105:978-1615308972
2104:
2085:
2068:
2054:
2042:
2024:
2007:
1988:
1973:
1958:
1940:
1921:"Second Crash"
1912:
1884:
1856:
1849:
1829:
1798:
1775:
1754:
1723:
1709:
1689:
1668:
1631:
1613:The Daily News
1595:
1570:
1542:
1516:
1467:
1454:
1451:Yahoo! Finance
1439:
1421:
1401:
1374:
1353:
1323:
1297:
1267:
1254:Economic Times
1241:
1226:
1210:
1194:
1181:
1165:
1153:Financial Post
1136:
1130:978-0313306297
1129:
1105:
1066:
1049:
1042:
1018:
985:
944:
930:
903:
889:
882:
868:Wanniski, Jude
859:
847:Shachtman, Tom
828:
803:
767:
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246:, head of the
221:Black Thursday
204:
201:
196:Clarence Hatry
122:
119:
103:Black Thursday
26:
9:
6:
4:
3:
2:
4230:
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4209:
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4150:United States
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3743:
3739:
3736:
3732:
3729:
3725:
3722:
3718:
3715:
3711:
3708:
3707:December 2008
3704:
3701:
3700:November 2008
3697:
3694:
3690:
3687:
3683:
3682:
3680:
3676:
3675:
3673:
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3515:
3511:
3507:
3504:
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3496:
3492:
3489:
3485:
3482:
3478:
3475:
3471:
3468:
3464:
3460:
3456:
3452:
3448:
3445:
3441:
3438:
3434:
3430:
3426:
3422:
3418:
3415:
3411:
3408:
3404:
3401:
3397:
3393:
3389:
3385:
3381:
3380:
3378:
3374:
3369:
3365:
3357:
3353:
3350:
3346:
3343:
3339:
3335:
3331:
3327:
3323:
3320:
3316:
3313:
3309:
3306:
3302:
3298:
3294:
3293:
3291:
3287:
3283:
3276:
3272:
3269:
3265:
3264:
3262:
3258:
3254:
3247:
3246:Panic of 1930
3243:
3240:
3236:
3232:
3228:
3224:
3220:
3216:
3212:
3211:
3209:
3205:
3201:
3194:
3190:
3187:
3183:
3179:
3175:
3172:
3171:Panic of 1907
3168:
3165:
3164:Panic of 1901
3161:
3158:
3157:Panic of 1896
3154:
3150:
3146:
3143:
3139:
3136:
3135:Panic of 1893
3132:
3128:
3124:
3120:
3119:Baring crisis
3116:
3112:
3111:Arendal crash
3108:
3105:
3104:Panic of 1884
3101:
3098:
3094:
3091:
3090:Panic of 1873
3087:
3086:
3084:
3080:
3076:
3068:
3064:
3061:
3060:Panic of 1866
3057:
3054:
3053:Panic of 1857
3050:
3047:
3046:Panic of 1847
3043:
3038:
3034:
3031:
3027:
3026:
3023:
3019:
3018:
3016:
3012:
3005:
3004:Panic of 1837
3001:
2998:
2997:Panic of 1825
2994:
2991:
2990:Panic of 1819
2987:
2983:
2979:
2976:
2972:
2969:
2965:
2962:
2961:Panic of 1792
2958:
2955:
2951:
2947:
2943:
2940:
2936:
2932:
2928:
2925:
2921:
2920:
2918:
2914:
2910:
2902:
2898:
2894:
2890:
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2878:
2877:
2872:
2868:
2864:
2860:
2856:
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2848:
2847:
2845:
2841:
2837:
2829:
2825:
2824:
2822:
2820:
2815:
2808:
2804:
2801:
2800:Social crisis
2797:
2794:
2793:Minsky moment
2790:
2785:
2781:
2778:
2774:
2771:
2767:
2764:
2760:
2759:
2757:
2753:
2750:
2746:
2743:
2739:
2734:
2730:
2729:
2727:
2723:
2720:
2719:Energy crisis
2716:
2713:
2709:
2706:
2702:
2699:
2695:
2692:
2691:Credit crunch
2688:
2685:
2681:
2678:
2674:
2673:
2670:
2666:
2659:
2654:
2652:
2647:
2645:
2640:
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2636:
2624:
2621:
2619:
2616:
2615:
2612:
2606:
2603:
2601:
2598:
2597:
2595:
2593:United States
2591:
2585:
2584:United States
2582:
2580:
2577:
2575:
2572:
2570:
2567:
2565:
2562:
2560:
2559:Latin America
2557:
2555:
2552:
2550:
2547:
2545:
2542:
2540:
2537:
2535:
2532:
2530:
2527:
2525:
2522:
2520:
2517:
2515:
2512:
2510:
2507:
2506:
2504:
2500:
2494:
2491:
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2486:
2484:
2481:
2479:
2476:
2474:
2471:
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2257:
2254:
2242:
2238:
2233:
2230:
2226:
2225:
2214:
2211:
2206:
2199:
2198:The Economist
2195:
2190:
2188:
2180:
2179:The Economist
2176:
2171:
2156:
2155:Virginia Tech
2152:
2146:
2144:
2137:
2134:
2129:
2123:
2120:
2115:
2107:
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2097:
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2075:
2073:
2066:
2063:
2058:
2051:
2046:
2039:
2038:
2034:
2028:
2022:
2019:
2014:
2012:
2003:
1999:
1992:
1986:
1982:
1977:
1969:
1965:
1961:
1959:9781316603406
1955:
1951:
1944:
1928:
1927:
1922:
1916:
1900:
1899:
1894:
1888:
1872:
1871:
1866:
1860:
1852:
1846:
1842:
1841:
1833:
1818:
1817:
1816:Rolling Stone
1812:
1808:
1801:
1799:0-395-85999-9
1795:
1791:
1790:
1785:
1779:
1771:
1770:
1765:
1758:
1742:
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1734:
1727:
1716:September 30,
1712:
1710:9780836901276
1706:
1702:
1701:
1693:
1686:
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1679:
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1672:
1665:
1657:September 30,
1652:
1648:
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1635:
1627:
1615:
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1609:
1605:
1604:Shann, Edward
1599:
1584:
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1559:
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1367:
1363:
1357:
1341:
1337:
1333:
1327:
1312:
1308:
1301:
1285:
1281:
1280:NYSE Euronext
1277:
1271:
1255:
1251:
1245:
1238:
1235:
1230:
1223:
1219:
1214:
1207:
1203:
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1059:
1053:
1045:
1039:
1035:
1031:
1030:
1022:
1006:
1002:
1001:
996:
989:
978:September 30,
973:
969:
965:
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951:
949:
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848:
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832:
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813:
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778:
775:Bone, James.
771:
763:
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744:
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730:
727:
725:
722:
720:
717:
715:
712:
711:
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703:
702:protectionism
699:
698:
693:
692:Anna Schwartz
689:
685:
682:
681:The Economist
677:
674:
673:
672:The Economist
662:
660:
654:
652:
648:
638:
636:
632:
626:
622:
620:
619:macroeconomic
616:
607:
602:
598:
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591:
587:
582:
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574:
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562:
557:
550:United States
541:
536:
534:
529:
527:
526:Panic selling
522:
516:
512:
509:
500:
495:
491:
489:
488:Goldman Sachs
485:
481:
477:
473:
472:margin buying
470:. Because of
469:
464:
461:
456:
446:
444:
440:
434:
432:
428:
424:
420:
416:
412:
408:
404:
400:
396:
393:In 1932, the
386:
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368:
365:
362:
359:
358:
354:
351:
348:
345:
344:
340:
337:
334:
331:
330:
324:
322:
317:
313:
308:
306:
305:Black Tuesday
301:
299:
295:
287:
283:
282:trading floor
278:
274:
272:
271:Panic of 1907
268:
264:
259:
257:
254:. They chose
253:
249:
245:
244:Albert Wiggin
241:
237:
233:
230:
226:
222:
214:
209:
200:
197:
192:
189:
185:
181:
180:Irving Fisher
177:
174:that saw the
171:
168:
164:
160:
156:
152:
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144:
140:
132:
127:
118:
116:
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108:
107:Black Tuesday
104:
100:
95:
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85:
81:
77:
76:Black Tuesday
73:
69:
65:
57:
52:
48:
44:
40:
33:
19:
3693:October 2008
3575:Samba effect
3431:(1987–2000s)
3326:Steel crisis
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3149:Black Monday
3127:Encilhamento
3067:Black Friday
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2830:(235–284 CE)
2698:Credit cycle
2574:South Africa
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3534:(1994–1996)
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3376:(1982–2007)
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3260:(1945–1973)
3225:(1921–1923)
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3207:(1918–1939)
3129:(1890–1893)
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3024:(1845–1856)
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2933:(1769–1784)
2916:(1760–1840)
2879:(1621–1623)
2861:(1544–1551)
2843:(1000–1760)
2742:Flash crash
2712:Debt crisis
2564:Netherlands
2414:documentary
2247:February 2,
2160:November 4,
1822:November 3,
1804:, cited in
1747:February 3,
1588:January 10,
1530:Smithsonian
1206:Times Union
1192:, pp. 39–40
1177:Times Union
911:Dan Bryan.
793:January 29,
631:uptick rule
617:and severe
455:speculative
399:U.S. Senate
378:bear market
240:Morgan Bank
229:Wall Street
225:ticker tape
213:Price Index
184:bull market
151:speculation
143:World War I
133:, 1928–1930
88:bull market
68:Great Crash
56:Wall Street
4172:Categories
2763:Accounting
2600:Bonus Army
2502:By country
2375:0385143702
2353:0399116133
2322:0060160810
2308:0195135164
2268:0393013758
1968:1048586916
1346:October 1,
1316:October 1,
1290:October 1,
1276:"Timeline"
1043:0395859999
1011:October 1,
883:0895263440
849:. (1979).
816:Money-Zine
735:References
659:means test
431:securities
419:underwrite
263:U.S. Steel
167:call money
121:Background
4021:Recession
3014:1840–1870
2514:Australia
2509:Argentina
2478:Dust Bowl
2065:The Times
2037:The Times
1557:TheStreet
1491:1423-3967
1463:The Times
1370:0730-2355
1100:1053-8372
821:March 18,
782:The Times
679:However,
635:bear raid
389:Aftermath
267:blue chip
2677:Bank run
2618:Category
2605:New Deal
2493:Timeline
2365:(1979).
2343:(1979).
2298:(2001).
2258:(1969).
1681:Archived
1499:38739976
1482:Le Temps
1158:July 22,
870:(1978).
708:See also
566:bank run
449:Analysis
417:, which
338:% Change
211:Overall
4124:Portals
2777:Funding
2770:Capital
2623:Commons
2569:Romania
2539:Germany
1563:May 10,
1535:May 10,
1394:May 11,
606:Toronto
545:Effects
369:230.07
355:260.64
284:of the
232:bankers
3947:(2016)
3593:(2001)
3577:(1999)
3394:(1982)
3233:(1927)
3180:(1910)
3151:(1894)
3121:(1890)
3113:(1886)
3069:(1869)
2903:(1720)
2895:(1720)
2887:(1637)
2784:Market
2534:France
2524:Canada
2519:Brazil
2463:Causes
2456:Topics
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641:Europe
423:stocks
413:, and
366:−11.73
363:−30.57
352:−12.82
349:−38.33
341:Close
335:Change
321:ticker
4162:1920s
2554:Japan
2549:Italy
2544:India
2529:Chile
1121:19–29
427:bonds
411:loans
203:Crash
137:The "
74:, or
3714:2009
2819:1000
2817:Pre-
2371:ISBN
2361:and
2349:ISBN
2318:ISBN
2304:ISBN
2264:ISBN
2249:2017
2162:2016
2100:ISBN
1964:OCLC
1954:ISBN
1935:2012
1907:2012
1879:2012
1845:ISBN
1824:2017
1794:ISBN
1749:2007
1718:2008
1705:ISBN
1659:2008
1622:2012
1590:2019
1565:2019
1537:2019
1511:2019
1495:OCLC
1487:ISSN
1396:2011
1366:ISSN
1348:2008
1318:2008
1292:2008
1262:2019
1160:2020
1125:ISBN
1096:ISSN
1038:ISBN
1013:2008
980:2008
925:2013
878:ISBN
823:2015
795:2012
756:ISBN
690:and
332:Date
280:The
129:The
62:The
41:and
2276:".
1687:PBS
1336:PBS
1311:NPR
1088:doi
1060:".
1000:CFO
968:PBS
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