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Stock Market Crash of 1929 Explained - Documentary - Key Insights and Analysis - YouTube
Channel: IntroBooks Education
[5]
Stock Market Crash, 1929,
happened at a time when the
[8]
countries were booming and
the economy was developing.
[12]
The position of the USA at
the period was flourishing as
[16]
it emerged as a super power
just after the World War I.
[20]
The blooming period was
known as roaring twenties
[23]
when all sectors of
the economy was booming
[26]
and the crash came as a shock to the entire
country and other countries since most of
[31]
the countries were interconnected with each
other on the basis of trade and commerce.
[36]
This led to a global
depression and almost all the
[40]
countries were affected,
causing widespread downfall.
[44]
The crash was first identified on
24th October 1929 which is popularly
[49]
known as ‘Black Thursday’ and
the crash continued to a week.
[54]
However, the effects of
the same were felt for
[57]
many years and it took
almost two decades
[59]
to come out of the
situation and countries had
[62]
to adopt different
measures for the same.
[65]
Stock Market Crash of 1929 is a
popular event in the global history
[70]
and the crash has left an unforgettable
experience for the countries.
[75]
The period of the beginning of the 20th
century saw many developments throughout the
[79]
globe and countries
were fixed in a turmoil
[82]
of changing from one
phase to another phase.
[85]
Many countries were under colonial
rule and some countries were
[89]
fastly developing in terms of
trade, economy and commerce.
[93]
Stock Markets has been in
existence from the early 13th
[97]
century, where the practices of
trading on debts were common.
[101]
It all started with the merchants trading
in Venice who used to carry papers and
[106]
documents and write down all the debts
and trades and sell the same if required.
[112]
Moving ahead, a better way of
trading was determined and merchants
[116]
started trading on different
voyages which also met its end
[120]
as a result of the
pirates and merchants had
[123]
to derive different ways
to reduce the losses.
[126]
It was finally in the 18th century
when the USA got the world’s first
[130]
stock exchange, a systematic way
of trading and covering the debts.
[135]
It was first established
in Philadelphia;
[138]
however, the most effective
stock exchange till
[140]
date is the New York
Stock Exchange which was
[143]
placed in the famous
Wall Street till today.
[146]
On the other hand, London Stock
Exchange was also formulated,
[151]
however, provided low safety
standards in comparison.
[155]
At the same time, India was under the
colonial rule and the beginning mark
[160]
of the stock exchange was the collection
of people below the Banyan Tree,
[164]
which later on went on to
become Bombay Stock Exchange.
[168]
Finally, in 1994, the National Stock Exchange
was established, which offered better
[174]
safeguards and currently,
trading has become a
[177]
safe option for people
and investors to trade.
[181]
During the 1920s, the world economy
on one part was low as a result
[186]
of the First World War and only
a few countries were booming.
[191]
The USA was one among them and it emerged
as a superpower at the end of the war.
[196]
The economic condition of
the country was booming
[199]
and as a result, the
financial institutions
[202]
took a step ahead and
started offering loans
[204]
and debts to enhance
the luxuries of people.
[207]
As a result, people took
advantage and started
[210]
buying cars and urbanization
was on the rise.
[214]
Agriculture took a step back and
major developments took place.
[218]
However, all this was
coming to an end with
[221]
circumstances which
covered the situation and
[224]
the case of Hatry
further deteriorated the
[227]
position as people’s
trust began falling down.
[230]
On 24th October 1929, people
began withdrawing the investments
[235]
and stocks, which resulted in
the fall of the stock exchange.
[239]
The day is still called as
the ‘Black Thursday’ and this
[243]
fall continued till Tuesday,
also known as ‘Black Tuesday.’
[248]
Overall, the growth rate
fell down drastically and
[251]
a surplus withdrawal
led to the stagnation of
[254]
the entire economy and
soon people were on a mass
[257]
level unemployed as
companies had to be shut.
[261]
The effects of the stock market
crash were not just limited to
[264]
one country but affected even
other smaller and bigger nations.
[268]
Countries like Great Britain, European
countries like France, Germany, Italy, etc.
[275]
and even Asian countries
were affected as a result.
[278]
This period was known
as the Great Depression
[281]
period and it was a dark
era for all nations.
[285]
Germany was worst
affected as it changed the
[288]
entire political
conditions of the country
[290]
and the ever powerful party
lost its election during 1932
[295]
and Nazis came to power in
1932, making Hitler the leader.
[300]
On the other hand, in Italy, the
trade and commerce drastically fell,
[304]
which led the government to take
severe steps in regard for the same.
[308]
In the USA too, the government
changed and Roosevelt
[312]
came to power and
bought in many changes.
[315]
Before the same, 1932 was a dark period
leading to the fall of the economy.
[321]
Britain and India stood connected as India
was under the colonial rule of Britain
[326]
and suffered great losses
as the colonial rule
[329]
became even more
stricter owing to losses
[332]
and farmers were the biggest losers of the
same with the economy falling to a very low.
[338]
From the period starting from
1930 to 1939, till the beginning
[343]
of World War I, the regaining
moment was taking place.
[347]
Countries and the respective
governments played
[350]
an important role in
making the economy grow.
[352]
Some of the important measures
which took place were the
[356]
change in power in the USA
during the 1933 election.
[359]
Roosevelt became the President and bought
in the change of New Rule, which was a way
[365]
to bring in welfare policies on the basis
of the society, employment, taxing, etc.
[372]
The funds of the Federal
Reserve were spent for the same
[375]
and this even bought in
criticisms against the government.
[379]
On the other hand, Great Britain made
their country a welfare state and
[383]
all these factors led to the
development of the different economies.
[387]
However, the best development came to
countries when the World War II started.
[392]
The USA was not a participant
until Japan attacked on Pearl
[397]
Harbor and in 1941, the USA
participated in the war.
[401]
This resulted in the end of Great
Depression as employment opportunities
[405]
were created and the young
generation lads joined the army.
[409]
Females and other aged peoples joined
labor works and manufacturing units.
[414]
The same was the condition of other countries
and finally, though the war bought
[419]
devastations, it acted as a boost to
the abolishment of the Great Depression.
[425]
There is a whole lot of field
where data comes very handy.
[429]
With the growing amount of
population, the importance
[433]
of data is undeniable,
especially in certain fields.
[437]
The foremost important field
relates to medicine and
[440]
around lakhs of people are
purchasing medicine every day.
[445]
To keep a count is hard and this data is very
useful in keeping a count of how well the
[449]
residents of an area
are capable of buying
[451]
medicines and what are
the most sold varieties.
[453]
Another major field is banking.
[456]
Today, governments have worked
very well for the progress of its
[460]
citizens and the net result is
the number of account holders
[464]
and maintaining their data
is of importance as only then
[468]
the banks can know as to
what offer to give to whom.
[472]
On a similar note exists the
other fields like construction
[476]
and infrastructure,
transportation and commerce
[480]
also accumulate data and there
has to be a greater level of
[484]
usage of data to predict what is
kept for the people in future.
[489]
The saving of data has
resulted in huge changes
[492]
and even bought changes
to the economies.
[495]
The concept of Big Data is yet
another important milestone
[499]
in the understanding of
how to learn from data.
[503]
Big Data is a term which is
coined and is commonly used for
[507]
data which is very huge in numbers
and gets piled up every day.
[511]
Such data’s are common in many fields.
[514]
Within Big Data, there are
three major types of data namely
[518]
structured data which is structured
and can be saved in a format,
[523]
unstructured data which is huge in
numbers and is randomly available and
[527]
semi-structured data which is the
combination of both the two types.
[531]
To analyze such data, some
of the common techniques
[535]
are machine learning, data
mining and deep learning.
[539]
Machine learning is a part
of Artificial Intelligence
[543]
and has been becoming
more and more popular.
[546]
With slight differences comes
data mining through which data
[550]
is extracted and saved and
then used for many purposes.
[554]
Deep learning, on the
other hand, is a recent
[557]
concept useful for
the gaming industry.
[561]
In whatsoever way, the data
can be extracted, saved and
[564]
made use for learning, without
protection, data is nothing.
[569]
All the companies are currently striving
hard to protect whatever data is
[573]
with them and there are some common
ways applied by them to save the data.
[577]
The same can be encryption,
putting restrictions
[581]
on data to be
accessed by everyone,
[583]
educating the employees
especially lower and
[585]
higher-level employees and
imparting them with knowledge
[588]
how breaches can end and
the importance of same
[590]
and framing stricter
rules to avoid breach.
[592]
Even after the same, data breach
has been observed true at many
[596]
places and awarding protection has
been the main motive of companies.
[601]
There is no denial that in the future, the
data is going to double up and to make them
[605]
useful for learning, protecting the same
in one way or other is even more pertinent.
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