Crash of 1929/Timelines: Difference between revisions
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imported>Nick Gardner |
imported>Nick Gardner |
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| Line 42: | Line 42: | ||
: Discount rate cut from 4% to 3.5% | : Discount rate cut from 4% to 3.5% | ||
1928 | 1928 | ||
: Discount rate raised to 5% | : Discount rate raised to 5% | ||
October | |||
: Death of Governor Strong of the New York Federal Reserve Bank | |||
1929 | 1929 | ||
: | February | ||
: Bank of Engand raises the bank rate fron 4.5% to 5.5% | |||
August | |||
: Federal Reserve Bank raises discount rate to 6% | |||
October | October | ||
| Line 50: | Line 55: | ||
:28 Black Monday | :28 Black Monday | ||
:29 Black Tuesday | :29 Black Tuesday | ||
1930-33 | |||
: Progressive collapse of the United States banking system with the failure of nearly half of the banks and heavy. losses by the others | |||
Revision as of 16:17, 12 January 2009
Stock price changes
- (see also the chart for the period 1920 to 1940 [1])
- Dow Jones Industrial Average: Low [2]
| 07/09/29 | 14/09/29 | 23/10/29 | 24/10/29 | 26/10/29 | 28/10/29 | 29/10/29 | 02/01/30 | 02/01/31 | 02/01/32 | 03/02/33 | 02/01/34 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 375 | 365 | 303 | 272 | 296 | 256 | 212 | 242 | 161 | 74 | 59 | 99 |
Timeline
1921 - 1929
- Strong economic growth: GDP increases by 42% (growth rates: 10.5% pa 1921-23; 3.4% pa 1923-29)
- Stock market boom: the DJIA index at the 1929 peak is six times its minimum level in 1921 [3].
1927
- Discount rate cut from 4% to 3.5%
1928
- Discount rate raised to 5%
October
- Death of Governor Strong of the New York Federal Reserve Bank
1929 February
- Bank of Engand raises the bank rate fron 4.5% to 5.5%
August
- Federal Reserve Bank raises discount rate to 6%
October
- 24 Black Thursday
- 28 Black Monday
- 29 Black Tuesday
1930-33
- Progressive collapse of the United States banking system with the failure of nearly half of the banks and heavy. losses by the others