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This Day in History: Let’s Reflect on the Stock Market Crash of 1929

This Day in History: Let’s Remember the Stock Market Crash of 1929

October 29th marks the anniversary of “Black Tuesday,” the day when the New York Stock Exchange crashed.

October 29th is a day that will live on as one of the darkest in American history.  On this day in 1929, the stock market crashed, causing America to spiral into the Great Depression. The Great Depression was a serious financial crisis that stretched from 1929-1939, and is still considered one of the worst and longest-lasting economic downturns in the history of the Western industrialized world.  To remember this grave day in American history, we invite you to read about these Great Depression facts.

– Herbert Hoover was the president when the Great Depression began.  Americans showed their anger at their president by calling homeless communities “Hoovervilles” and naming the food served at soup kitchens “Hoover stew.”

– On “Black Tuesday,” the stock market lost an astounding $14 billion.  During the week-long crash, the stock market lost a total of $30 billion.

– Historians estimate that approximately 50% of all children did not have adequate food, shelter, or medical care during the Great Depression

– During the Great Depression, 60-80 million Americans went to the movies every week.  Movies provided a relatively cheap way to distract themselves from the harsh realities of the Great Depression.

– Many famous buildings and structures, such as the Empire State Building and the Golden Gate Bridge, were completed during the Great Depression.  These projects offered many jobs to the unemployed.

It has been suggested that our leaders were smart and instituted some solutions and that the onset of World War II helped us pull ourselves out of the Great Depression.  The combination resulted in Americans becoming financially stable again. Eventually, the American dream got back on track and the glory days of the 1950’s rolled around.

Today, join us at The Maria Sanchez Show in remembering those who suffered in the wake of “Black Tuesday.” Don’t forget to check out our latest program, Shadow Politics with Senator Michael D. Brown. Tune in on Sundays at 4:00 p.m. PDT/7:00 p.m. EDT.

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