|首页|历史上的今天|留言板|教务处近期通知|
登录
|百家争鸣|百科知识|对外交流|健康常识|教师培训|教研工作|教育新闻|竞赛获奖|考试信息|历史知识|新课改|英语之角|
当前位置:昆明第一中学教务工作网>>首页 >>英语之角 >> 正文
75th anniversary of the 'Great Crash'
Jerilyn Watson 2004年11月1日
点击: 4924

This is Gwen Outen with the VOA Special English Economics Report. 75 years ago this week, an event shook the world: the Great Crash (大崩盘)of 1929.

It began October 24th, 1929. Fear seized the New York Stock Exchange. Investors wanted to sell their shares before the stock lost value. Over the next five days, millions of shares flooded the market. Many investors lost all their money.

During the 1920s, many Americans had invested in the stock market. Many got rich. In 1928, Herbert Hoover was elected president. He said the future was bright with hope.

People were being advised to buy stock before prices climbed even higher. Common sense was in short supply. Stock market rules let investors buy shares even if they did not have enough money. That is still true today, but there are stronger controls.

During the summer of 1929, some economists warned that there was no real value behind the high prices. President Hoover urged stock market officials to make trading safer and more honest. But he did not think the government should interfere in the market.

When the drop in stock prices finally came, it was slow at first. It picked up speed as investors sold more and more shares. Several bankers bought stocks in an effort to prevent a crash.

But the intense activity continued. October 29th is remembered as Black Tuesday. That day alone, stocks lost a tenth of their value. The crash caused a lot of people to lose their jobs, their farms and their homes. Many banks and businesses failed. The crash led to a worldwide depression.

In 1932, Americans elected a new president, Franklin Roosevelt. He increased federal control over banks and the stock market. But the Great Depression did not end in America until 1942, during the Second World War. The stock market has had other bad days in the last 75 years. October 19th, 1987, is called Black Monday. American stocks lost 23 percent of their value, their biggest percentage loss in a single day.

In less than two years, however, those stocks had regained all the value they lost. And economists like Lee Kjelleren [SHELL-er-en] at the Museum of American Financial History in New York say good quality stocks are still the best investment.

 This VOA Special English Economics Report was written by Jerilyn Watson. This is Gwen Outen.

关闭

【免责声明】
本网站资料部分来源于互联网,并不代表本站观点,仅供学习参考之用。
COPYRIGHT © 2009-2019 昆明第一中学教务处
设计与维护  昆明第一中学教务处  Version 1.5.0
电话(Tel):0871-65320954

生成页面用时 78 毫秒
滇ICP备09011112号 滇教备0909001号 滇公网安备53010202000191号 360检测平台 管理员信箱:431187183@qq.com