Black Tuesday

Echoes of a Distant Crash

Robert S. McElvaine | Posted 05.25.2011

Read More: Ronald Reagan, Public Option, Black Tuesday, 1929 Stock Market Crash, Franklin Roosevelt, Tva, Free Market Ideology, Conservative Economics, Barack Obama, Herbert Hoover, Great Depression, Politics News
Robert S. McElvaine

Eighty years ago this week, an enormous sound emanated from lower Manhattan and began to spread in waves across the nation and, eventually, the world.

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"Black Tuesday" and "Happy Days Are Here Again" at 80

Robert S. McElvaine | Posted 05.25.2011

Read More: Income Distribution, Labor Unions, Black Tuesday, Tax Rates, Happy Days Are Here Again, 1929 Stock Market Crash, Socialism, Capitalism, Free-Market Economics, Barack Obama, Recession, Great Depression, Financial Crisis, Wall Street Crisis Mccain, Business News
Robert S. McElvaine

In what must rank as one of the most ironic coincidences in history, "Happy Days Are Here Again" was recorded on the day that was to be called "Black Tuesday" and become synonymous with the with the onset of the Great Depression.

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"Black Tuesday" plus 79 Years

Robert S. McElvaine | Posted 05.25.2011

Read More: Financial Crisis, Black Tuesday, 1929 Stock Market Crash, Great Depression, Alan Greenspan, Tennessee Williams, Business News
Robert S. McElvaine

The downward spiral of the Depression was already underway a few months before "Black Tuesday." The market crash reflected the economic problems; it did not cause them. The same is true today.

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