The 1920s was marked by unprecedented prosperity, luxury and glamour. Women smoked, drank, danced, voted; dresses got shorter, and people could buy anything they desired with only a few “small payments.” (www.ushistory.org) However, as Americans became richer, they began buying stocks on margin and using credit to buy stocks. (Associated Press 202-208) This temporary payment buffer they were using was piling up. They were using credit, but forgetting about their debt. Ultimately, this led to the stock market crash in 1929 and the Great Depression which followed.
The Roaring Twenties certainly lived up to its name. Women were rebelling against gender roles, and according to Jennifer Rosenberg, 20th Century History expert, men were living with a "eat-drink-and-be-merry-for-tomorrow-we-die spirit." While these young men were off being used as cannon fodder, women were buying into the patriotic fervor and aggressively entering the workforce. (www.history1900s.about.com) They took these soldiers’ places in factories and even filled executive positions at certain companies. However, some companies insisted on discrimination against women and forbid them from filling certain positions.
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Department stores opened up generous lines of credit for those who could not pay up front but could demonstrate the ability to pay in the future. (www.ushistory.org) People were distracted by the sensation of buying items without upfront cash, that they forgot all about their individual growing piles of debt. Installment plans were offered to buyers who could not afford the lump sum, but could afford "twelve easy payments." (www.ushistory.org) By the end of the decade, over half of the nation's automobiles were sold on credit. (www.ushistory.org) People were growing all too oblivious, and the sensation of attainability without spending would not end