asked in Arts & HumanitiesHistory · 6 months ago

when the Stock Market crashed in 1929 and caused the Great Depression, how that happened and will it happen again like that?

if so, what will the effect be this time on American society ?

with all the hatred among people towards each other now? racism, etc.

Update:

yeah, lol, I think it will be more like the French Revolution. with "let them eat cake" people being gutted by the raving mad mobs

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  • 6 months ago
    Favorite Answer

    The crash is seen as the one event that began the chain of events that resulted in the depression, but it was not the single cause of it. Rather, it was how institutions and the people in charge of them, political leaders, and the general public reacted. The stock market actually rallied, people did not jump off of buildings as is the false portrayal (there are only two or three documented cases). What really did the economy and in and severely hurt most everyday people was the run on banks. Bank failures, and bank foreclosures on homes and many, many farms. Much of the US economy was still agriculture at this point. Only a small percentage of Americans had any investments in stocks.

    Certainly we can have another great depression, but it will happen in its own way, it won't be like that one went down, and no one can accurately predict how it will play out.

  • Who
    Lv 7
    6 months ago

    the jury is out on whether it caused the depression or not - some economists say it did, some say it didnt

    (there have been bigger market crashes than 1929 that DIDNT lead to a depression)

    ALL "bubbles" end in a crash

    and there have ALWAYS been bubbles every year since the 15th century

  • 6 months ago

    The housing crash of 2008 showed that it could happen again. I don't know why someone wasn't keeping an eye on our moron investment bankers - Lehman Bros, Merrill Lynch, Bear Sterns, and Goldman Sachs, etc??

    However instead of a depression, we got the great recession.

  • 6 months ago

    It was controlled by behind the scene manipulators and finalisers

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  • Athena
    Lv 7
    6 months ago

    The stock market crash of 1929 did NOT "cause" the Great Depression.

    The events were many fold and the crash was just one of them.

    The Depression would have happened even if the market did not crash.

    • gerald
      Lv 7
      6 months agoReport

      the blind leading the blind you are supposed to be the economy of the world the wiz kids you built a house of straw you are crooks 22 trillion dollars debt print money for fun interest rate in prison a huge war machine you are too big to fail so do what you want the result KAPUT you will implode

  • 6 months ago

    No. The stock market crash in 1929/was preceded by bumper wheat crop in 1926. This is why mothers parents added electricity, plumbing, a basement, kitchen, bathroom, bedroom, and hall to their house in the Oklahoma panhandle. My grandfather was an accountant at a grain elevator. The stock market crashed on October 29, 1929. My grandfather died August 30, 1930. My mother never really recovered from his death.

    The 2008 stock market crash was preceded by Reagan's first administration deregulations allowing mergers, so Esso/Exxon could merge with Mobil, the Penn Square State Bank in Oklahoma City geeing overextended on loans and defaulting July 2, 1982, triggering the savings and loan crisis and lots of houses being sold for the next 4 years because mortgages were too high and kept increasing. Then there was the dot.com crash in 1997.

    The 2008 stock market crash was different from the 1929 crash. For me this is personal family history. My father had just started college in 1929.

  • 6 months ago

    It's complicated

  • 6 months ago

    Nothing will matter, Everyone will stand in soup lines together like one happy family. Except they won't be happy.

    • 6 months agoReport

      yeah, lol, I think it will be more like the French Revolution. with "let them eat cake" people being gutted by the raving mad mobs

  • Anonymous
    6 months ago

    a racial war, just like Charles Manson predicted will happen after, pure Helter Skelter

  • Anonymous
    6 months ago

    The liberal Hoover caused it.

    Remember, the parties switched sides.

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