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Black Thursday
Start of Term Paper
Thursday, October 24, 1929, has the dubious honor of being called because it was on this day that the New York Stock Exchange crashed. This event heralded the end of the "Roaring Twenties". In the 1920’s, spirits were high in the United State .... Middle of Term Paper
... their life savings, mortgaged their homes, and cashed in safer investments, such as treasury bonds and bank accounts.
As the prices continued to ascend, some economic analysts began to warn of an impending correction, but they were largely ignored by the money-hungry population. Many banks, eager to increase their profits, began speculating dangerously with their investments as well. Finally, in October of 1929, the buying craze began to dwindle and gave way to an even wilder selling craze.
The bottom began to fall out on Thursday, October 24, 1929. Prices dropped precipitously as more and more investors tried to sell their holdings. ... |
| Number of Words: 364 |
Approximate Pages: 2 |
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