WALL STREET CRASH - SPERIAMO NON SIA COSI' PER L'ITALIA - Original Blog - Daniele Bartocci

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WALL STREET CRASH - SPERIAMO NON SIA COSI' PER L'ITALIA

Pubblicato da DANIELE BARTOCCI in ECONOMIA · 1/10/2013 16:36:19

SPERIAMO PROPRIO CHE IL NOSTRO PAESE NON VADA IN CRISI!!!! IL RISCHIO E' CONCRETO, SPERIAMO BENE
MI RITORNA QUASI IN MENTE IL WALL STREET CRASH....!!!!

Elaborazione personale nella'ambito del mio progetto "Lo stato e le imprese - 2008): The wake of the First World War and the Russian Revolution boosted an economic boom, known as Roaring Twenties, that saw successful workers struggles and an increase in the value of Us stock market shares, reaching the peak at the end of August 1929. Economists point out the abuse of cheap credit made by American consumers and business in the 1920s to respectively purchase consumer goods and make capital investiments... Such widespread attitude brought about a short term economic growth as well as the creation of consumer and commercial debt. However, already in 1926 the flourishing of economy started to show signs of tottering, as the drop of prices of land in Florida or of food, which was overproduced, or the proliferation of small banks, not ready to cope with the sudden massive request for loans, or the huge speculation on the stock market, on which the middle class spent a lot in buying pieces of paper. At the beginning of Autumn 1929 prices started to decline, speculation continued and on October 29, 1929, there was the Wall Street Stock Market Crash or Black Tuesday, despite the desperate attempts of major banks and investment companies to hold up prices and stem the panic by buying up stocks................................................. As a consequence of the decline of capital investments and construction activities surviving banks kept capital resources and made fewer loans, so as deflationary pressures intensified and 1930 recession turned to 1933 Great Depression...................  The recession of American economy affected most other countris proportionally to their internal weaknesses or strengths, producing a general financial crisis and catastrophic levels of unemployment across all the industrialized countries apart from the USSR, based on a planned economy, independent on speculation and generally isolated from the world economy and enjoying an expansion of production after the devastation of the Wars of Intervention.. European banks, for example, due to the sudden recall of the huge loans by American banks, collapsed. Industrialized countries and countries exporting raw materials were devastated by a decline of international trade due to a substantial decrease of personal incomes and tax revenues, areas based on heavy industry were hit hard, many countries halted their construction activities and agricultural and rural areas suffered from crop prices plunge by 40 to 60%, which resulted in a downturn of demand for primary sector products... and a consequent high rate of unemployment in countries with few alternate jobs. The Wall Street Crash of October 1929 and its consequences caused a massive psychological blow evolving in a general lack of confidence..............




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