1/15/2013

[7thAaron]

• • the stock market crash of 1979
  • bank failures reduction in purchasing across the board
  • american economic policy with europe
  • drought conditions
  • the stock market crash of 1929 was a result of economic imbalances and structural failure
  • some of the major cause were buying on credit, buying on margin..
  • causes of buying on credit: allowed people to buy things and then pay for them later.
  • combined with what the american people at the time thought was a strong economy.
  
  
  • margin millionaires went broke.
  
  
  • they failed because people began to lose their savings .