Think the current challenging economic times are bad? Think the great financial crisis was bad? Well here's a documentary on the 1929 crash, not to make light of our present situation but this is an eye opening documentary. Over a period of 6 days in October 1929 the US stock market lost a third of its value; wiping out more than $25 billion in individual wealth (worth a bit more in those days! - after adjusting for inflation), while 3,000 banks ended up failing and wiping out investors' savings. While the literature on financial crises (e.g. "This Time Is Different
") is growing, as we understand more about the enduring effects of financial system shocks; this video provides an interesting look at one of the most significant financial crashes of our time.
See Also: The Crash of 1929
") is growing, as we understand more about the enduring effects of financial system shocks; this video provides an interesting look at one of the most significant financial crashes of our time.
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