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The Cause Of The Great Depression - Online Term Paper

The Cause Of The Great Depression

The enormous amount of unsecured consumer debt created by this speculation left the stock market essentially off-balance. Many investors, caught up in the race to make a killing, invested their life savings, mortgaged their homes, and cashed in safer investments such as treasury bonds and bank accounts. As the prices continued to rise, some economic analysts began to warn of an impending correction, but they were largely ignored by the leading pundits. Many banks, eager to increase their profits, began speculating dangerously with their investments as well. Finally, in October 1929, the buying craze began to dwindle, and was followed by an even wilder selling craze.
On Thursday, October ...

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were financially ruined. By the end of the year, stock values had dropped by fifteen billion dollars. ...

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The Cause Of The Great Depression. (2005, September 1). Retrieved November 23, 2024, from http://www.essayworld.com/essays/The-Cause-Of-The-Great-Depression/32607

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PAPER DETAILS

Added: 9/1/2005 04:43:19 PM
Category: American History
Type: Free Paper
Words: 209
Pages: 1

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