The Economic Boom In The 1920's

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Following the economic boom in the 1920’s, the United States lay in economic ruin. This time was formally known as the great depression. Many historians use the crash of the stock market as the starting for the depression because all the money lost by major corporations and banks. This funneled down the the public in the form of them losing all of their savings. The depression can be blamed on the unregulated banking practices and the overuse of credit. In the boom that was the “roaring twenties” many consumers found themselves being pelted with new and improved produces. Even though they couldn’t afford them they still bought them, but on a system called credit. Buyers agreed to pay for the product over time with an interest rate. Americans
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