>It started on October 24 ("Black Thursday") and continued until October 29, 1929 ("Black Tuesday"), when share prices on the New York Stock Exchange collapsed.
>It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries.
Great depression was caused moreso by the terrible fiscal and monetary policies that followed the crash, not the crash itself. We won't get anything that bad again because we're not on the gold standard meme anymore
Julian Lopez
Yes it was when you compare the %drop from top to bottom. Look at your graph again and think in terms of %
Benjamin Clark
no, greatest % loss is 1965 to1980
Grayson Hughes
What is so bad about the gold standard meme. What if someone made a new policy called the bitcoin standard.
Nolan Long
fixed monetary base doesn't allow you to do what needs to be done to stimulate the economy during times like that, which is to stimulate by lowering rates and pumping more capital into the system. Because that couldn't be done under the gold standard we got the deflationary pressures that fucked everything
Kayden Long
gold standard is bad because it makes people forget that gold is money. when people think paper is money they get put on an economic hamster wheel by inflation you get people saying shit like this inflation is a social construct. consumer price index is not the definition of value
inflation is a social construct but it is a necessary one. Without it, people wouldn't be forced to invest their capital into research, education, construction, tech, etc. They would just horde the shit out of the money and never spend it.
