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- 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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