How did the Stock Market Crash of 1929 affect those of that time? The 1920s were a time of unbelievalbe prosperity.
During this time, the United States had seemed to be doing great in the stock market since it had be going up through the
roof. However, the great profit would also been the cause of Black Tuesday.
The investments made during the 1920s was based mainly on the unstable basis of margin buying. The investers bought borrowed
money from their brokers, who went to banks for the money. If and when the stocks failed and investors needed to default,
the moeny was permenantly nowhere to be found.
The crash of 1929, was what had really slowed down the economy. The desires of many consumers was soon nonexistence.
Expensive items such as, automobiles, entertainment, and radios where now considered a want and not a need. The American consumers
had to become satisfield with what they already had. This in turn affected the companies and workers that produced these items.
A downward spiral was set in motion.
October 29th, 1929, would be the day in which would be dedicated to Black Tuesday.
