Hello.
I am a junior in high school, and I am currently doing a research paper about the stock market crash of 1929.
Mind you, I have already written 5 pages, and we need 7-10.
I am currently in the place of my paper where I am talking about how our nation has changed because of the market of 1929.
I know about FDR's New Deal and how the WW2 helped us climb out of Depression.
It would be great if someone could post a couple websites maybe to help explain today's view of the crash of 1929 and how it still effects today.
Thanks. :DDo you know any websites that show contrast between the stock market of 1929 and today's?Here are a few good ones.
This one discusses what factors led to the depression, why it lasted so long, and what finally brought us out of it:
http://econ161.berkeley.edu/TCEH/Slouch_鈥?/a>
This one discusses some lessons of 1929 as applied today:
http://money.cnn.com/2004/10/26/markets/鈥?/a>
This one is a PDF file that discusses economic stability and the lessons of the crash of '29:
http://ecedweb.unomaha.edu/ve/library/AE鈥?/a>
The most significant way this terrible depression informs everything today is that nobody wants it to happen again. There are many safeguards in place now that were not in place then (i.e., banking laws, FDIC insurance, separation of banks and investment companies -- although this last one has nearly disappeared over the past 10 years). In Oct.1987, when there was another large, frightening stock market crash, more safeguards were put in place, i.e., trading limits and trading holds that take effect if a single stock drops too far or if the market as a whole drops too far. This is to prevent a run on the market (i.e., everybody bailing out at the same time) and give people a day to calm down and let the market settle.
The last major market crash, which started in March 2000 and didn't really end until Fall 2002, was a slow but ruthless downward trend. It hurt many investors, but the speed of the crash was slow and there were many opportunities to get out.
