In the election of 1928 it was Herbert Hoover vs. Al Smith. Hoover wanted to keep the foreign policy the same, that was the big reason he won the election, he had over 400 electoral votes, and Smith had a lot less than that. What really helped Hoover win the election was "We in America are near the final triumph of poverty than ever before." With the exception of the "solid south"(the people who always voted for the Democrats), and Massachussetts all states voted for Hoover. His thing was times are great, why change?
When you're buying stocks, you're buying into a company. The stock market is where people buy and sell stock. A stock is a part of a company. The reason the stock market kept going up in the 1920's is because they thought it would keep going up, and that it'd never fall, so the put a lot of money into it. Stock prices in the 1920's were hitting record levels all the time. Margin buying allowed the average consumer to be able to buy stock. If they put 10% down they could get a lot of stock. A speculator is the one that is buying & selling stocks, and telling people whether it'd be a good idea to buy or sell.
The story of the stock market crash. The crash occoured because the electronic ticker was behind for a couple of hours, so stocks started dropping. People started selling like crazy. The Dow Jones dropped. It is the stock market indicator. If the Dow Jones is going down most of the stock prices will go down. After the crash a lot of people lost their savings because they were uninsured in the banks. On the Thursday prior to Black Tuesday there were 12.9 million shares traded, and that kept going up until Black Tuesday. Charlie Mitchell, JP Morgan Bank, and Chase Bank saved them, and stock prices went up and up and up again. Then the weekend hit. People started pulling out of the market. A lot of people that had bought stock bought it on margin, so they owed a lot of money.
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