The Great Depression was a time of severe economic disturbance. People believed that the Roaring Twenties would lead them to a period of economic greatness; however, this was not the case. The decline within the stock market that brought the New York Stock Market to an all time low occurred on October 29th of 1929. This event is otherwise known as "Black Tuesday." During the late 1920s many invested in stocks in hopes of a "getting rich quick" type scenario. Instead many found themselves to be caught in the stock market's crash, thus rendering them dumbfounded. The blight that was the Great Depression caused bank panics, a gaping hole in the economy, and a negative outlook on stock investing.
Summary on Where Did All the Money Go?
The Great Depression was a time of severe economic disturbance. People believed that the Roaring Twenties would lead them to a period of economic greatness; however, this was not the case. The decline within the stock market that brought the New York Stock Market to an all time low occurred on October 29th of 1929. This event is otherwise known as "Black Tuesday." During the late 1920s many invested in stocks in hopes of a "getting rich quick" type scenario. Instead many found themselves to be caught in the stock market's crash, thus rendering them dumbfounded. The blight that was the Great Depression caused bank panics, a gaping hole in the economy, and a negative outlook on stock investing.