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The wall street Crash

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Have a little read: ... The wall street Crash The stock market -- not housing starts, sales of durable goods, or the financial health of banks - - was viewed as the chief economic indicator of the U.S. In September of 1929, stock prices began to fluctuate, but these were dismissed as temporary. What many did not realize -- or refused to admit -- was that stock prices were totally out of proportion to actual profits. Sales of goods and construction of factories were falling rapidly while stocks continued to climb. Still, very few were worried; they still accepted Adam Smith's "self-adjusting economy" as doctrine and believed the problems would fix themselves. October 24, 1929 is known as "Black Thursday." On this day, people began dumping their stocks as quickly as they could. Sell orders inundated market exchanges, and the bull market suddenly shifted to a bear market. By that evening, the market had stabilized a bit as

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