The Great Wall Street Crash - 1929 - Cause and Effects Free Essay, Term Paper and Book Report
Wall Street Crash of 1929 Causes and Effects
In 1929 an investor called Will Payne stated that it was so easy to make money on the Wall Street Stock Exchange that it was no longer a gamble. A gamble is when someone loses and someone gains, here everybody was winning. In 1928 President Coolidge said, "No Congress of the US ever assembled on surveying the state of the Union, has met with a more pleasing prospect than that which appears at the present time. In the domestic field there is tranquillity and contentment......and the highest record of years of prosperity. From 1925 to 1929, the Boom Period every share in the stock market seemed to be going up and industrial sector shares more than trebled in price. Stocks of RCA (Radio Corporation of America) were traded at $2 in 1921 and $500 in 1929. This was the magic of the bubble, a bull market in which Keynes Animal Spirits took over entrepreneurs and speculators. People were buying because everybody was buying shares as a result all and sundry wanted to take part in stock investing. During the 1920s Americans believ......
Word Count: 1715
Page Count: 6.8 (250 words a page / double spaced)
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