Great Depression - it should have been. On October 24, 1929...

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The Great Depression 1 Great Depression The great depression saw the economy spin out of control as the stock market hits an all time low. Rebecca McDaniel History 125 Professor E. Sharp August 27, 2010
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The Great Depression 2 The beginning signs first appeared with the distress of the farmers in America in 1920. With product, demand down many farmers had a hard time making enough money supporting themselves, and even required public assistance, and relief aid. Default on overseas repayment of loans made during the war put a large strain on the economy. This problem was not easy to repaired, and money was not coming into the country, as
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Unformatted text preview: it should have been. On October 24, 1929 the stock market crashed. The economy is stunned, with no idea of how to save money, or live on a budget. The stocks continued to fall and from 1929 to 1933, the stocks fell from 87 billion to a mere 18 billion. Consumer debt and an increase in credit card spending caused consumer debt to rise by 250 percent. Roughly, 6,000 of the countrys 25,000 banks had closed. Unemployment was at a new high, as nearly 2 million American workers were without a job. The impact was devestating; no job means no money for food or rent....
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Great Depression - it should have been. On October 24, 1929...

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