According to John Kenneth Galbraith in The Great Crash 1929, 'the suicide wave the followed the stock market crash is also a part of the legend of 1929. In fact, there was none.' Instead what we find is that for several years prior to 1929 'the suicide rate had gradually been rising.' This is of particular interest because it suggests that people loosing all their wealth was not the cause of suicides, in fact suicides had been on the rise while the stock market was doing incredibly well.
How can we explain this increase while the market was doing well? While I have only anecdotal evidence I would suggest that society had become dissatisfied and this was the cause for the increase in suicides prior to the great crash. The years prior to the great crash there was a massive increase in speculators in the stock market as it became the modern day gold rush. The stock market was a road to quick wealth based on a house of cards. As investors gained wealth there was was also an immediate dissatisfied with the wealth they acquired. As the old saying goes, "wealth doesn't bring happiness." Likewise those that did not play the stock market or lost money doing so also became dissatisfied because they saw those around them gaining wealth and they felt left out.
The increase in suicides prior to the stock market crash suggests that people were not content. Paul says in Philippians 4:11 'I have learned to be content in all circumstances.' It is important for us in this modern day stock market and economic downturn to remember to be content in all circumstances. How can we be content in all circumstances? We need to know that God is still in control and that He will work it out if we continue to put our trust in Him.
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