Tuesday, July 8, 2008
This photograph shows a woman living in a tent during the Great Depression. The woman is the daughter of a migrant Tennessee Coal Miner. The picture was taken in the American River Migrant Camp near Sacramento California.
It was on this day, July 8, in the year 1932 that the Dow Jones Industrial Average bottomed out at a low of 41. It was not until the 1950's that the stock market fully recovered from the crash of '29. It is amazing what level of suffering occurred in the 30's as a result of the excesses of the '20's. Lets hope that our present financial challenges only lead to a "recession".