The Great Crash of 1929 — the day the stock market collapsed
Everyone was buying stocks on debt, convinced prices would rise forever. Then, in one week of October 1929, it all collapsed. The start of the Great Depression.
In 1920s America, the stock market soared dizzyingly. Ordinary people invested all their savings — even borrowed — to buy stocks, convinced they could only go up. It was a bubble, just like tulip mania, only on a vast scale.
Black Thursday
On October 24, 1929, confidence evaporated. Everyone wanted to sell at once, but no one was buying. Prices collapsed. Those who had borrowed to invest were left with debts and nothing else. The Great Depression followed — years of unemployment and poverty worldwide.
The lesson
The Great Crash taught the world two things: don't invest money you can't afford to lose, and be careful with debt. These are exactly the decisions you can practice, risk-free, in a game like Kosron Bank — before making them with real money.
Debt amplifies everything: both the gain and the crash. That's why you learn it carefully, not the hard way.
