Was the economy already bad before the Stock Market Crash of 1929?
1 more question it is the stock market crash of 1929 right? Not 1921?
Public Comments
- I think it was bad and that led up to the crash
- It is 1929, yes. And, the stock market was actually in a massive boom immediately before the crash. The market moves in cycles, with a slow increase over twenty years or so, then rapid falling, followed by growth again, etc.
- It was slowing. GDP in 1928 was higher than in 1929.
- Certainly. In 1925 the economist Kondratieff gave a paper in Chicago to a conference of economists, predicting the Great Depression and the type of things that would lead to WW II.
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