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The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
The stock market crash was not the first sign of the Great Depression. "Long before the crash, community banks were failing at the rate of one per day". [78] It was the development of the Federal Reserve System that misled investors in the 1920s into relying on federal banks as a safety net.
After the Wall Street crash of 1929, when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with the Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932.
The Great Crash, 1929 is a book written by John Kenneth Galbraith and published in 1955. It is an economic history of the lead-up to the Wall Street crash of 1929.The book argues that the 1929 stock market crash was precipitated by rampant speculation in the stock market, that the common denominator of all speculative episodes is the belief of participants that they can become rich without ...
During this time, most people believed that the decline was merely a bad recession, worse than the recessions that occurred in 1923 and 1927, but not as bad as the Depression of 1920–1921. Economic forecasters throughout 1930 optimistically predicted an economic rebound come 1931, and felt vindicated by a stock market rally in the spring of 1930.
The 1920s (pronounced "nineteen-twenties" often shortened to the "' 20s" or the "Twenties") was a decade that began on January 1, 1920, and ended on December 31, 1929. . Primarily known for the economic boom that occurred in the Western World following the end of World War I (1914–1918), the decade is frequently referred to as the "Roaring Twenties" or the "Jazz Age" in America and Western ...
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Michael J. Meehan (1891–1948) was a stock trader on Wall Street during the 1920s and 1930s. The Securities and Exchange Commission (SEC) forced him out of trading in 1935 as the first individual they prosecuted. During the Great Depression he purchased a controlling stake in the Good Humor ice cream company.