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The stock market crash on Black Tuesday and subsequent economic turmoil reified the formerly abstract risks endemic to the 1920s mortgage market: borrowers could no longer afford even moderate monthly payments and the recompense afforded by foreclosure on a lien did little to ameliorate many institutions' financial standing: between 1928 and 1933, home prices declined by nearly 25.9% ...
The crash instigated widespread and long-lasting consequences for the United States. Historians still debate whether the 1929 crash sparked the Great Depression [51] or if it merely coincided with bursting a loose credit-inspired economic bubble. Only 16% of American households were invested in the stock market within the United States during ...
Herbert Hoover and the Great Depression (1959). scholarly history online; Watkins, T. H. The Great Depression: America in the 1930s. (2009) online; popular history. Wecter, Dixon. The Age of the Great Depression, 1929–1941 (1948), scholarly social history online; Wicker, Elmus. The Banking Panics of the Great Depression (1996) White, Eugene N.
This depression remained the national Jay Cooke & Company failed on Sept. 18, 1873, triggering a financial panic that soon plunged the United States into a "Great Depression." The Credit Card Is ...
Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
The publication of the book, which was one of Galbraith's first bestsellers, coincided with the 25th anniversary of the crash, at a time when it and the Great Depression that followed were still raw memories - and stock price levels were only then recovering to pre-crash levels. Galbraith considered it the useful task of the historian to keep ...
Obviously, the causes of the Depression are still hotly debated, and popular understanding centers on the 1929 stock market crash, while the somewhat more informed will cite excessive easy credit ...
In the '20s, plenty of folks lived beyond their means, and retailers were all too eager to extend installment loans and credit lines, more than doubling consumer debt and contributing to the ...