ON THIS DAY IN HISTORY.

ON THIS DAY in 1929, the stock market began its frantic tumble on what became known as Black Thursday. It was followed by Black Friday, Black Monday, Black Tuesday, and Black Wednesday, after which other colors had to be found to indicate rotten days on the market. This precipitous decline in the values of stocks began what is commonly called the Great Depression, a period of global stagnation that ended only with the beginning of the Second World War. From this economic catastrophe American presidents have learned that it is very unwise to allow a single presidential term to pass without a foreign war of some sort.

Published in: on October 24, 2011 at 11:18 am  Leave a Comment  

The URI to TrackBack this entry is: https://drboli.wordpress.com/2011/10/24/on-this-day-in-history-54/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s