Information stock market crash great depression causes
The following year, the Dow embarked on another, much longer, steady slide from April to July 8, , when it closed at After the crash, banks only had enough to honor ten cents for every dollar. Fisher's debt-deflation theory initially lacked mainstream influence because of the counter-argument that debt-deflation represented no more than a redistribution from one group debtors to another creditors. The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at In , the Pecora Commission was established by the U.