Answer:
Explanation:
This is a very worthwhile question. Reworded, it comes down to "What happened and why did it happen."
WWI just ended. It was (up until then) probably the most brutal war that had ever been fought on this planet. Millions were murdered. New and more destructive weapons were designed and used especially on the ground war.
Men of conscience realized that certain weapons had to done away with. That though limited, was the good news. The bad news was that the victors were ruthless. Germany was made to pay large amounts because they lost the war. That was a mistake not repeated at the end of WWII.
That's part of the economic picture. But there was a moral decay that was happening as well. The righteous prohibited booze and in spite of this, people insisted that celebration was the order of the day. The party animal was alive and well.
Not only that, but people were creating a monster in the stock market. As insane as it sounds, people were buying stocks on money loaned from the banks and used the stocks they bought as collateral. They had almost zero amounts invested in the stocks they bought. It was as though people were going to casinos and on the way in, they were given the money needed to gamble in the form of chips.
It was a disaster waiting to happen, which it did.
When selling started to creep in, the banks were caught holding the bag.
