Colorized Black Friday Photo Of A Man Selling His Nice Car October 29th, 1929

January 31, 2021

This Would Be $1,443, Adjusted For 2021 Inflation, Which Shows How Desperate People Were

In the years leading up to the Stock Market Crash on October 29, 1929, life was good for most Americans. With easy access to credit and a booming economy, many people, like investor Walter Thornton, shown in this colorized photograph from the time, enjoyed unprecedented prosperity, which allowed them to enjoy the finer things in life.

It's one thing to look at this photo in black and white. Without color it's firmly based in the past, and it looks like something that we're far away from. In its colorized state, this depressing snapshot feels all too vital and contemporary. $100 may not be able to buy anyone a car these days, but the color makes this shot look tactile and all the more prescient

source: Urban2487

Thornton, and many more like him, had their world toppled when, on October 29, 1929, panicked investors traded more than 16 million shares on Wall Street’s New York Stock Exchange. Stock prices tumbled and the market crashed. Overnight, Thornton and others like him, lost everything they had. This colorized photograph tells the story of how desperate some folks were to get their hands on cash. 

The Great Depression

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When the Stock Market crashed, billions of dollars were lost. Businesses went bankrupt and employees lost their jobs. Unemployment rates skyrocketed. People lost their homes. The United States was plunged into the Great Depression, the worst economic downturn in history. It lasted an entire decade. The Great Depression impacted every industry in America, but none harder than the automobile industry.