agricultural recession
- Overproduction lowers prices
- " Farmers have always been poor"
- First sign of the coming Depression
- " Farmers have always been poor"
- First sign of the coming Depression
Black tuesday october 29, 1929
-Dow Jones Industrial average collapsed
-Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
-People threw themselves out of buildings
-Businesses go bankrupt
-Banks close
-Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
-People threw themselves out of buildings
-Businesses go bankrupt
-Banks close
-Agricultural sector was the first to be hit
-Farmers' prices gone down
-Supply goes up, demand goes down
-Farmers' prices gone down
-Supply goes up, demand goes down