us history

us history
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  • Consumer Borrowing
  • BUY! BUY! BUY!
  • CAUSE
  • We can't pay it back.
  • BANK
  • You owe a lot of money!
  • We borrowed too much.
  • EFFECT
  • BUY! BUY! BUY!
  • OUT OF BUSINESS
  • Banks allow people to use credit to pay for stuff that they wanted or need. People borrowed a lot of money thinking it was just free money from the bank.
  • People would use credit to spend money that they didn't have and used so much that they couldn't pay it back, causing banks to crashes. This is when poverty hit America.
  • After the banks crashed, no one could spend money at the stores they went to, because people were in debt which lead to the great depression.
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