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Stock Market Crash of 1929

It was the fall of 1929. The decade known as the Roaring Twenties was drawing to a close. The American economy was booming, and living was easy. The 1920s had been good for many Americans and prosperity abounded. Most Americans shared a sense of invincibility and reveled in the United States’ economic good fortune. Ironically, as people prepared to say goodbye to the 1920s, soon, they would have to bid farewell to the way of life that earned the decade the designation of the “Roaring Twenties”.

The stock market, in the 1920s, had been on a steady climb. Stocks were profitable for people of all walks of life, from the bankers to the common citizen. The banks were making money from people who borrowed funds to buy stocks, and the people who borrowed funds from the banks for stock purchase were then selling said stocks to other individuals at a higher price. Everyone was happy and all were making money. Blinded by the hope of great fortune, investors failed to realize that what goes up, must come down. Early in 1929, forecasters were calling for the stock market to enter a recession by the end of the year, but most did not heed the admonishments. However, in late October 1929, th

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Approximate Word count = 2009
Approximate Pages = 8 (250 words per page double spaced)

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