http://www.sheboyganfalls.k12.wi.us/students/2009/09eakluz/livinghistories/overview.htm
Summary:Buying on credit was a major cause of the Great Depression. Many people during the Great Depression relied on credit buying to buy consumer goods. This caused massive debt. People couldn’t afford to buy much of anything anymore. Also, farmers overproduced for World Was I causing prices of their products to go down. There was enough food for everyone, but very few people could afford to buy the food.
One last major cause of the Great Depression was the lending of money to the United States’ Allies during World War I. The other countries couldn’t pay back their debts since they were in Depression also. The major collapse in the economy caused manufacturin problems and un-employment rates to go up higher! Fariming took a bigger cause on the great depression. Desperate farmers began stealing food and going on riots. They even used pitchforks to drive off police who came to repossess their homes and personal belongings. The crisis in the farm sector caused panic all around the United States and the World
Wednesday, February 25, 2009
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