The Bubble Bursts
Have one ever-wondered why and how the stock market crashed? What happened in the 1930s will never be forgotten. It was a time of turmoil for our country. Many people became unemployed. Some people blamed it on the president, Herbert Hoover. They said that he should've seen it coming. One can learn more if one should read on. The Stock Market Crash of 1929 sparked the Great Depression. It threw thousands of Americans out of jobs and ruined many families. It was a horrible time in history for the lives of many Americans. The Stock Market Crash was a time when millions of stocks prices fell and thousands of Americans were out of money. The aftermath of this event was very bad. It left thousands of people out of job and many lost their homes and some went to the extreme, committing suicide. Over production was one of the causes of the d
Stores and companies had so many products left over by the war that they needed to sell them. Instead, the president tried to keep the unemployment levels down. Congress refused to give it to them. He set up the public works program. Without the money, banks couldn't pay other people. When they wouldn't sell they lowered the prices. All in all, this was a very very hard time in the US. Weak banking caused many people to go broke and become unemployed. When America stopped doing loans, then Europe stopped doing loans, which created a chain of people in weak communities with no money. During the depression, unemployment soared. They called shacks Hoovervilles and newspapers Hoover blankets. Many people blamed the whole thing on the president.
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