"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 depression.Although it wasn't the only cause, it made a big impact.Stores and companies had so many products left over by the war that they needed to sell them. When they wouldn't sell they lowered the prices.They ended up lowering them to very little money and weren't making a profit.Another cause of the depression was weak banking system.Banks had made loans to people in the stock market. When the stock market crashed however, people couldn't pay back the loans.Without the money, banks couldn't pay other people. Many banks were forced to close.
The US had made loans to Europe.When America stopped doing loans, then Europe stopped doing loans, which created a chain of people in weak communities with no money.This was called worldwide depression.It all lead to worldwide economical collapse.
During the depression, unemployment soared.Unemployment is where people are fired from their jobs.There wasn't anywhere for the people to work.Some people sold apples, which others sold newspapers or other random th…