Unknown Story

Speculative Boom of the 1920s
20% 45% 65% 80%
Stock Market Crash of 1929
Oversupplying and Overproduction Problems
Consumer debt increased and companies overextended themselves because people spent too much money on buying stocks.
Low Demand, High Unemployment
I'm sorry, but I have to let some of you go.
On October 24, 1929, the market was 11% lower than it was the day before. From 1929-1932, the stock market lost at least 85% of its value.
Missteps by the Federal Reserve
Civilians
You should've lowered interest rates, and not have supported closing banks!
Federal Reserve
Mass production led to the consumption boom, but it also led to overproduction in a lot of businesses.
Constrained Presidential Response
I believe we shouldn't get the whole government involved.
Companies lost money because consumers who were in debt didn't spend their money, and that caused companies to cut production and let go of their workers.
The Federal Reserve was irresponsible. After the crash they raised interest rates instead of lowering them and the Feds also supported the "liquidationist" policy which led to banks collapsing.
We are the ones who make the decisions not you!
President Hoover's response to the economic crisis was late because he believed in minimal government intervention.

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