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en:great-depression [2019/03/19 09:41] federico |
en:great-depression [2019/03/19 09:51] federico [Herbert Hoover weak Economic Policy] |
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| Since 1926, the U.S. experienced strong economic growth. Industries expanded quickly, particularly sectors like durable goods. Unemployment was low and there was no fear of unemployment. | Since 1926, the U.S. experienced strong economic growth. Industries expanded quickly, particularly sectors like durable goods. Unemployment was low and there was no fear of unemployment. | ||
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| Families started to take loans to finance expenditure. Before 1929, some even took loans to finance the purchasing of stocks. Prices in Wall Street were raising. There was a lack of strong regulation, and some practices that are forbidden now were allowed. For example, it was allowed to manipulate the prices by using a group purchasing scheme, and the sell the assets at a higher price. | Families started to take loans to finance expenditure. Before 1929, some even took loans to finance the purchasing of stocks. Prices in Wall Street were raising. There was a lack of strong regulation, and some practices that are forbidden now were allowed. For example, it was allowed to manipulate the prices by using a group purchasing scheme, and the sell the assets at a higher price. | ||
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| The fall of Wall Street ended with the prosperity climate. Families stopped to take loans and reduced the purchase of durable goods. Factories were hit and unemployment rose. | The fall of Wall Street ended with the prosperity climate. Families stopped to take loans and reduced the purchase of durable goods. Factories were hit and unemployment rose. | ||
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