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Stock Market - Explain how the Stock Market led to the Great Depression​

Sagot :

After World War I ended, life was exciting and good here in Florida. Most people had jobs and could afford to buy many of the new gadgets that were being invented. Many people bought their first automobiles in the 1920s, and people began to travel as never before. People filled their homes with new gadgets, and women were given the right to vote. It was an exciting time to be alive. This period is known as the Roaring ’20s. For Florida, the ’20s only roared until about 1926. Then the banks ran out of money to loan, and investors got scared. To make things even worse, Florida was hit by terrible hurricanes in 1926 and 1928. Trouble was here to stay for a long time.

Then suddenly, things changed for all Americans with the stock market crash of 1929. Many people had hoped to make money in the stock market and had bought stock in many companies. When the prices of the stock dropped, people lost money, and soon many businesses and banks throughout the country closed their doors. People lost their jobs and had no money to pay rent, buy food or provide for their families. Many people had to stand in soup lines, or long lines where they could receive free food