The mad and venal emperors Nero and Caligula. Caesar assassinated before a statue of his archrival Pompey. Hannibal crossing the Alps during Rome's life-or-death war with Carthage. In telling Rome's riveting story, Professor Fagan draws on a wealth of primary and secondary sources, including recent historical and archaeological scholarship, to introduce the fascinating tale of Rome's rise and decline, including the famous events and personalities that have become so familiar.
#Stock crack of 1929 series#
And it stood for almost 700 years.In this series of 48 spirited lectures, you'll see how a small village of shepherds and farmers rose to tower over the civilized world of its day and left a permanent mark on history. In the regional, restless, and shifting history of continental Europe, the Roman Empire stands as a towering monument to scale and stability, unified in politics and law, stretching from the sands of Syria to the moors of Scotland. At the peak of its power, Rome's span was vast. It lasted until the end of the 1930s, and went down in history as the Great Depression.Even today, the influence of Ancient Rome is indelible, with Europe and the world owing this extraordinary empire a huge cultural debt in almost every important category of human endeavor, including art, architecture, engineering, language, literature, law, and religion. The crisis soon spread from the US to Europe. In a short while, the number of unemployed Americans rose to over 12 million. Production declined dramatically, and layoffs swept every sector of the economy. Industries were suddenly left without capital to invest. This created a liquidity crisis that forced many banks to declare bankruptcy. Thousands of people rushed to banks to withdraw their savings. News of the crisis rapidly spread throughout the country. By Tuesday, October 29, known as Black Tuesday, the crash was definitive. Eleven New York brokers committed suicide. By 1933, unemployment was at 25 percent and more than 5,000 banks had. People who had invested all their money in the stock market were left penniless. The stock market crash of October 1929 signaled the beginning of the Great Depression. The situation came to a head on Thursday, October 24. Small investors panicked, and began to sell their stocks as well. Financial speculators started to sell off their portfolios. On this very day, the crash started with a market loss of 11 of its value at the opening bell on very heavy trading. The stocks of failing companies began to lose value. The optimism and financial gains of the Wall Street stock market were shaken on Black Thursday, October 24, 1929, when share prices on the New York Stock Exchange (NYSE) abruptly fell.
Many products went unsold, and companies started to go bankrupt. Domestic demand couldn’t keep up with all the goods that were being placed on the market. Meanwhile, American industries continued to produce more and more. Many firms were created simply to allow investors to speculate on stock profits, and later proved to be frauds. But this situation created a huge difference between the value of a company’s stock, and its actual, real market value. The value of most stocks skyrocketed to dizzying heights.
#Stock crack of 1929 professional#
Professional investors and ordinary citizens alike all invested in stocks. Great optimism spread throughout the US market. The oil, steel and rubber industries also grew as a result. The automobile industry enjoyed a boom, which gave impetus to road construction. American industry also became faster and more efficient thanks to the introduction of the assembly line. America was the main exporter of agricultural and industrial products to Europe, where economies were struggling to recover after World War One. Starting in the early 1920s, the United States underwent a period of strong economic growth. The event triggered the greatest economic depression of the 20th century. On Tuesday, October 29, 1929, the American stock market on Wall Street, New York crashed.
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