Roaring Twenties Dbq Essay

There goes all of your money*!!! *(If you ever had any). This is basically what happened during the Great Depression and people were lost, for now they had nothing. The Roaring Twenties just ended abruptly and now you have no money and no job. . . surprise! The Roaring Twenties was a great time to be an investor and many people made a lot of money from speculation and installment buying. It was a great time to live in America and people loved it, then came the stock market crash and almost everybody had almost nothing. People lost their money, their installments, and their jobs. Their yearly wages dropped to under $2,000 a year while working many jobs and people could barely survive. Many things caused the Great Depression but three obvious

People would “buy” something but pay it off a little at a time, as they obtained the money for it. In document 6 titled “The Perils of Prosperity” the last sentence is, “In other words, consumers bought goods on installment at a rate faster than their income was expanding, but it was inevitable that a time would come when they would have to reduce purchases, and the cutback in buying would sap the whole economy.” This is basically saying that when people realized that they could not pay for everything they were buying they would have to stop buying all of those things and have to pay off their loans and when they couldn’t the economy would

This was the final tipping point that caused the Great Depression. Even more than when the banks failed, people lost everything. Including their jobs and their investments and anything they had. In the stock market crash of 1929 there was almost nothing left. All the money disappeared, many people lost their jobs, and banks started failing. The crash was caused by people doing more and more installment buying and they did not have the money to pay for everything they bought so basically everybody stopped buying the things they wanted at the same time because they all had the realization that they had no money. As document 5 titled A History of the American People it is stated that, “The final development that set the stage for the collapse of American prosperity in 1929 was the speculative boom that developed with increasing intensity. . . more investors put their money into securities(stocks). . .” This is supporting the fact that when the stock market crashed people lost more than they ever thought they