The New York Daily News

December 20th, 1929

The Black Tuesday Crisis

Who knew that one year ago the united states and the entire world would be in the middle of a terrible economic depression. In the last year, unemployment has increased to 22%, while personalincome and profits have dropped. People have begun to withdraw their money from banks and now our banks are beginning to close. Businessmen are not getting new loans and can not even get their old loans renewed. This has forced many to stop investing in the stock market.
This has effected both rich and poor all over the world. Owners of companies who have made alot of money in the past are now laying off even more workers. Since people have less money to spend, they are not buying as many products from
these companies. Without money, parents were struggling to feed their children. People had to live in shacks because they could not pay their mortgages. Construction was haulted around the world becuase of lack of demand of new projects.
People are wondering when things will be back to normal. Normal citizens are starting to take actions to help keep their families alive. Banks are being robbed more frequently and crime is on the rise all over the country. Our goverment needs to find a way to recover and get our contry going in the right direction. Lets just hope that our President has a good plan to get America through the worst economic crisis ever.

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