US Stock Market Erupts in a Great Crash After the Ultimate Melt-Up
After a rally in the summer of 1929, the US stock market crashed in late October.
After a rally in the summer of 1929, the US stock market crashed in late October.
On March 25, 1929, after the Federal Reserve warned of excessive speculation, the stock market suffered a small crash, with call loan rates rising as high as 20%; the next day, after the National City Bank announced an injection of funds to support the market, they fell back.
In March 1929, after a warning from the Federal Reserve, the stock market suffered a mini-crash; Charles Mitchell, president of National City Bank (the predecessor of Citibank), announced $25 million in credit to prop up the market, and the call loan rate fell from 20% back to 8%.
Film teacher Kuleshov juxtaposed the same close-up of an expressionless male actor after shots of soup, a coffin, and a woman, leading the audience to interpret them as hunger, sadness, and desire, respectively.