Houjun Liu

causes of the Great Depression

stock market crash of 1929

At October 24th, 1929, Black Thursday took place, and the stock market crashed. During this time, a record of 13 million shares traded, over $3b of losses. This began a 4 year slide of the global economy.

Crash theories:

bank failures of 1929

Banks became irrelevant. Lots of risky loans given out, farmers are taken out huge loans and the banks can’t deal.

other factors