Commanders History Corner message, 29 OCT 2013: On this date, 84 years ago, after a series of ominous pitfalls and cavalier, speculative investment ventures, the US stock market exchange crashed, dropping 30 points and costing investors billions of dollars. The date, known to history as Black Tuesday, was the most devastating economic disaster in American history, and ushered in the twelve years of dire poverty and economic instability known as The Great Depression. Billions of dollars of wealth were wiped out almost instantaneously. Millions became unemployed and the roaring twenties were quickly a distant memory. The Great Depression lasted through the 1930s, and ended during the industrial boom caused by the second world war. By the time Japan surrendered in August of 1945, America had become the most dominant economic power in the world. Our survival of the great depression and emergence as the global economic epicenter is indicative of American resiliency, intuition and fortitude. AMERICA!
Posted on: Tue, 29 Oct 2013 13:48:31 +0000
Trending Topics
Recently Viewed Topics
© 2015