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  • It is the 1928, and life was good for Jim Jones. The economy was prosperous, he had a nice house, and a good paying job. Herbert Hoover and Alfred Smith would be the two candidates running against each other for presidency.
  • Before The Depression
  • Im voting for Hoover
  • It is 1929, and Herbert Hoover is the newest president of the U.S. A bull market has emerged, in which stock prices have risen. The causes of this were due to the optimism of Hoover heading to the White House.
  • The Election of 1928
  • Great Idea!
  • Lets go out and buy some stocks for cheap!
  • Bull Market
  • A long period of rising stocks created a bull market. Investors would buy stocks from a company even if its earnings dropped.
  • Im going to use $1,000 to buy $10,000 worth of stock!
  • On October 21, 1929, the stock market plunged. The next day was called Black Tuesday. The market lost between 10-15 billion dollars.
  • Stock Market Crash
  • We should've been smarter with our decisions
  • Banks Close
  • When Stock values collapsed, banks lost money on their investments, and speculators defaulted on their loans. A bank run took place in which everyone decided to withdraw their deposits at one time, causing the bank to collapse.
  • Root Causes
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