HIST 1220 Lecture Notes - Lecture 16: Market Trend, Ope, Domino Theory
Document Summary
Pick up from previous class monday october 17, 2016. Now, during the first nine months of 1929 automobile sales fell by 1/3. Similarly, construction which had been another major industry from that period suffered as well as money that was due to be spent on construction projects fell from 11 billion to 9 billion dollars in the years, 1926-1929. In construction, like automobiles, a number of associated industries tied into this: all of the trades found within the construction industry, arced true, suppliers of various construction goods, all becoming impacted with that slowdown. That being half of americans made enough money to pay rent, buy food, keep clothing on their backs but they had no extra money to be out purchasing new appliances or consumer goods in general. There were foreign factors connected to the fall of the stock market as well.
