★ This was the date when the stock market fell dramatically 12.8%.
┗▶ What caused the Great Depression?
┗▶ What caused the Great Depression?
★ European governments were in debt from WWI.
★ European citizens couldn’t buy American products because they were still trying to recover and rebuild from WWI.
★ U.S. farmers grew more food than they could sell.
★ U.S. farmers grew more food than they could sell.
★ Also, competition from European farmers drove down the price of farm goods.
★ By the end of the middle of the1920’s U.S. farmers were already in a depression.
★ By the end of the middle of the1920’s U.S. farmers were already in a depression.
★ Many Americans bought goods on credit, but they couldn’t afford to pay the bills for the things they had bought.
★ When the economy slowed down and people lost their jobs they defaulted on their loans causing the economy to slow down.
★ When the economy slowed down and people lost their jobs they defaulted on their loans causing the economy to slow down.
★ During the Roaring 20’s the U.S. raised tariffs to keep foreign goods them out of U.S. markets.Americans couldn’t afford to buy foreign goods.Some people believe that U.S. tariff laws helped to create a depression outside the U.S.
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