1928 election
-hoover and al smith
-hoovers first time running and smiths 3rd time
-hoover was state of commerce
-hoover wanted to keep coolidges foreign policies
-hoover won by a LOT
Hoover won because times were good and people didn't feel like they should change because they had no need to
stockmarket 1920s- very good
stock- piece of paper stating that you own a piece of a business
stockmarket kept going up because people didn't understand that they can't invest more than they have so when it crashed no one had the money they had put into it.
buying on margin- you only had to put a down payment on what you were buying. you could get a lot for a little money. if they stock went down people couldn't pay
specilation- a speculator watches the stock market for stock that will go up, also the person who is buying and selling stock. they play the stock market.
stock market was going down so stock market advisers were telling people to sell stocks to make some money. because everyone was selling no one was buying and the paper was worth way more than the company.
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