Great Depression

financial boom and availability of easy credit led to a Great Bull market - doubling of stock prices between 1926 - 1929.

• in september 1929 there was a sharp fall in prices but no real financial panic. first tumbled on 24 October black thursday and then 5 days later on 29 october Black tuesday. the paper value of stocks lost 26 bln. in 1930 the great depression began in both the USA and across western europe

the huge drops could be seen as simply correcting the overvalued market back to realistic levels

• the buying of stocks went out of control. the…