This Day in History - Oct 29,1929 Black Tuesday

[one...two...tree 2,762]

...THE STOCK MARKET CRASH and the GREAT DEPRESSION BEGINS.

The falling stock crisis which had been gaining momentum since early September finally culminates in the greatest one day collapse of the U.S. Economy. Millions of people who weren't ruined by last Thursday's crash were ruined today. One third of all U. S. banks failed- 2,500.

Eyewitnesses to that day all remember the strange low roar echoing through the glass canyons of Wall street, it was the continuous moans of thousands of investors being simultaneously ruined. Businessmen jumped to their deaths from windows. Two executives held hands as they jumped because they had a joint account. The chairman of General Motors William Durant finished his life managing a bowling alley in Chicago.

The Union Club wallpapered it's bar with worthless stock certificates. Venerable firms like Morgan and Lehman Brothers allowed 'apple-breaks' for their brokers to go out on the street and supplement their incomes by selling apples. By years end all U.S. industry was working at 17% of capacity and unemployment would soon soar to 55% in many major cities. The newly built Empire State Building was nicknamed the "Empty State Building".

The Herbert Hoover Administration, which espoused the traditional Republican hands-off attitude towards Wall Street, watched in horror as every trick known to financial wizards like Rockefeller and Lamont failed to stop the slide. People questioned whether capitalism itself was a failure.

Hoover's Vice President Charles Curtis, (for whom the nickname "Goodtime Charlie" was invented) continued to party while things collapsed. During a speech, He told hungry, unemployed people protesting that they were all "Too damn dumb" to understand economics.

~ Tom Sito

[I AM NOT THAT GUY 5,715]

...THE STOCK MARKET CRASH and the GREAT DEPRESSION BEGINS.

The falling stock crisis which had been gaining momentum since early September finally culminates in the greatest one day collapse of the U.S. Economy. Millions of people who weren't ruined by last Thursday's crash were ruined today. One third of all U. S. banks failed- 2,500.

Eyewitnesses to that day all remember the strange low roar echoing through the glass canyons of Wall street, it was the continuous moans of thousands of investors being simultaneously ruined. Businessmen jumped to their deaths from windows. Two executives held hands as they jumped because they had a joint account. The chairman of General Motors William Durant finished his life managing a bowling alley in Chicago.

The Union Club wallpapered it's bar with worthless stock certificates. Venerable firms like Morgan and Lehman Brothers allowed 'apple-breaks' for their brokers to go out on the street and supplement their incomes by selling apples. By years end all U.S. industry was working at 17% of capacity and unemployment would soon soar to 55% in many major cities. The newly built Empire State Building was nicknamed the "Empty State Building".

The Herbert Hoover Administration, which espoused the traditional Republican hands-off attitude towards Wall Street, watched in horror as every trick known to financial wizards like Rockefeller and Lamont failed to stop the slide. People questioned whether capitalism itself was a failure.

Hoover's Vice President Charles Curtis, (for whom the nickname "Goodtime Charlie" was invented) continued to party while things collapsed. During a speech, He told hungry, unemployed people protesting that they were all "Too damn dumb" to understand economics.

~ Tom Sito

http://tomsito.com/blog.php?post=2443

[Ontarkie 13,915]

Off topic comment removed

[I AM NOT THAT GUY 5,715]

Off topic comment removed

huh?

[Karee 4,189]

huh?

Seemed pretty on topic to me. Mods must not be looking at the other thread.

Edited October 29, 2012 by Karee

[The Nature Boy 4,224]

...THE STOCK MARKET CRASH and the GREAT DEPRESSION BEGINS.

The falling stock crisis which had been gaining momentum since early September finally culminates in the greatest one day collapse of the U.S. Economy. Millions of people who weren't ruined by last Thursday's crash were ruined today. One third of all U. S. banks failed- 2,500.

Eyewitnesses to that day all remember the strange low roar echoing through the glass canyons of Wall street, it was the continuous moans of thousands of investors being simultaneously ruined. Businessmen jumped to their deaths from windows. Two executives held hands as they jumped because they had a joint account. The chairman of General Motors William Durant finished his life managing a bowling alley in Chicago.

The Union Club wallpapered it's bar with worthless stock certificates. Venerable firms like Morgan and Lehman Brothers allowed 'apple-breaks' for their brokers to go out on the street and supplement their incomes by selling apples. By years end all U.S. industry was working at 17% of capacity and unemployment would soon soar to 55% in many major cities. The newly built Empire State Building was nicknamed the "Empty State Building".

The Herbert Hoover Administration, which espoused the traditional Republican hands-off attitude towards Wall Street, watched in horror as every trick known to financial wizards like Rockefeller and Lamont failed to stop the slide. People questioned whether capitalism itself was a failure.

Hoover's Vice President Charles Curtis, (for whom the nickname "Goodtime Charlie" was invented) continued to party while things collapsed. During a speech, He told hungry, unemployed people protesting that they were all "Too damn dumb" to understand economics.

~ Tom Sito

Black Tuesday. So if it had been a good market would it have been White Tuesday. You choice of titles and perpetuating anything bad as being black only goes further to prove your obsession with race. I hope one day you will not stereotype and define everything by color.

[I AM NOT THAT GUY 5,715]

Black Tuesday. So if it had been a good market would it have been White Tuesday. You choice of titles and perpetuating anything bad as being black only goes further to prove your obsession with race. I hope one day you will not stereotype and define everything by color.

I guess I am not the only one that noticed.

[Penguin_ie 5,985]

**** personal attack removed. Stay on topic and civil or thread bans and suspensions will be next. No more warnings. ****

[TBoneTX 43,057]

Black Tuesday. So if it had been a good market would it have been White Tuesday. You choice of titles and perpetuating anything bad as being black only goes further to prove your obsession with race. I hope one day you will not stereotype and define everything by color.

Uh, what about Black Friday, huh man?

[I AM NOT THAT GUY 5,715]

Uh, what about Black Friday, huh man?

Discriminates against Native Americans.

[TBoneTX 43,057]

Discriminates against Native Americans.

Call it "Viernes Negro" (as in the Spanish-language papers here) and the perceived insult loses some of its bite, si man.

Speaking of which, two of my wife's cousins were here from Ecuador on last Viernes Negro. I rousted myself from bed at 4 a.m. (egad, man) and got them to a large outlet mall by 6. We finished at 9:30. They must have spent over a grand, including $575 at ONE store. That was really my first serious Viernes Negro activity, si man, and it wasn't bad. Might try it this year with Mrs. T-B., if Mini-Bone permits it.