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Anonymous
Anonymous asked in Arts & HumanitiesHistory · 2 months ago

did some people make A LOT of money in Oct. 1929? (When the stock markets crashed? how and why them?)?

did they work in unison to crash the market? how they communicated that they would all pull out at once ? causing the crash? or was it just a few very heavily invested share holders that did that?

final question, why the US gov. didnt step in and make sure the employees were employed or the companies required to keep them employed? as this is what caused the Depression? the joblessness?

Update:

final question, why the US gov. didnt step in and make sure the employees were employed or the companies required to keep them employed? as this is what caused the Depression? the joblessness?

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  • Jerome
    Lv 6
    2 months ago
    Favorite Answer

    This is the secret societies we speak of. Sounds awfully familiar to today's financial climate of inequality...

    This time it may be permanent.

    For the vast majority the 1930s was a time of misery. But for many American dynastic families, parties helped to escape the reality on the street and the grander the better.

    While storefronts stood empty, the 47-storey Waldorf-Astoria Hotel opened in 1931 at a cost of $42 million ($600 million today). Hosting a number of lavish parties during the Depression, the Waldorf even had it’s own in-house professional hostess in Elsa Maxwell. She delighted high society with her child-like bashes: costume and painting parties, cooking soirees, and parlor games. In fact, it was during this decade that this "hostest with the mostest” invented the "scavenger hunt" to keep her guests entertained.

    The Ritz was another favored venue for extravagant celebrations. It hosted two of High Society’s most memorable coming out parties during the Great Depression. Socialite and “poor little rich girl” Barbara Hutton, grand-daughter of the dime-store magnate Frank W. Woolworth, made her debut there in 1933. Costing more than $60,000 ($1million today) it was one of the most glamorous parties of the 1930s. Eucalyptus and silver birch trees were imported from California, four orchestras played accompanied by singer, Rudy Vallee. It was attended by a veritable Who’s Who list of the rich and famous, including the Astors and the Rockefellers.

    Source(s): Guess what demographic suffered the least?🤔
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    • nonpartisan
      Lv 6
      2 months agoReport

      Nice attack on what might just be a foreigner not fluent in the English language.


      You might try brushing up on the English language yourself before you start ridiculing someone else: "...the 47-storey Waldorf-Astoria Hotel"? The last time I looked, it was spelled "S-T-O-R-Y".

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  • 2 months ago

    There are three ways to make money on Wall Street 1) Cheat 2) Be Smart 3) Be First. The smart people figured out that September 1929 was the time to BE FIRST in getting out of the market and/or shorting the major stocks of the day.

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  • Anonymous
    2 months ago

    There were a select few magnates w/ enough money to gamble with who took a chance and bought the right stocks at rock bottom prices. The same holds sway today as back then, buy low/sell high. However, MANY people went bust abusing how they could buy stock on margin back then. People write books on stuff like this.

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