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.
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.
There is no single cause linked to the Wall Street Crash, as many variables played their respective parts. According to Bob Jain, one reason this event occurred was the overproduction of goods. When this happens, demand for said good isn't as high, which has been cited as an additional factor. Society became a little too confident for its own good and many people suffered as a result of this crash.
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.
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.
There is no single cause linked to the Wall Street Crash, as many variables played their respective parts. According to Bob Jain, one reason this event occurred was the overproduction of goods. When this happens, demand for said good isn't as high, which has been cited as an additional factor. Society became a little too confident for its own good and many people suffered as a result of this crash.
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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If you would care to learn more regarding finance, please consult Robert Jain.. Free reprint available from: Robert Jain & The Importance Of The Wall Street Crash.
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