The 1930s were a time of hardship and change. The Great Depression shook the role of the US government, our expectations of the economy, and our lifestyle forever.
During the 1920s, people were in a haze of false happiness and success. The creation of the stock market and buying on credit gave people more opportunities to buy and sell. The invention of the car and radio were revolutionary, bringing people together like never before. Unfortunately, this happiness was short lived. The debt that people racked up from unmonitored buying and selling on the stock market eventually led to the stock market crash, and then the Great Depression in the late 1920s. By being able to put "5 dollars down," people could buy fabulous new technologies, but also created huge debt for themselves, a debt that eventually crippled the economy.
Although an economic depression may have been inevitable and a natural part of the fluctuation of an economy, without those 3 areas the depression wouldn't have become so horrible and impactful: leaving a quarter of the population unemployed and leaving millions of Americans starving and homeless.
During the 1920s, people were in a haze of false happiness and success. The creation of the stock market and buying on credit gave people more opportunities to buy and sell. The invention of the car and radio were revolutionary, bringing people together like never before. Unfortunately, this happiness was short lived. The debt that people racked up from unmonitored buying and selling on the stock market eventually led to the stock market crash, and then the Great Depression in the late 1920s. By being able to put "5 dollars down," people could buy fabulous new technologies, but also created huge debt for themselves, a debt that eventually crippled the economy.
Although an economic depression may have been inevitable and a natural part of the fluctuation of an economy, without those 3 areas the depression wouldn't have become so horrible and impactful: leaving a quarter of the population unemployed and leaving millions of Americans starving and homeless.