Today we continued on talking about the stock market crash and the great depression..The rich became richer, and the poor.. stayed the same.Federal Reserve Policy FailedCauses:Overspecularion of the 1920sOverproduction of goodsBuying on marginUneven distribution of wealthToo much borrowing from banksStock prices grossly inflated; did not have "real" valueBanks used to play with people's money ing the stock marketEffects:Investors and businesses lose millionsThousands of banks fail, savings are wipes outBusinesses cut production, lay off thousands of workersUnemployment rises, consumer base drops furtherEconomic contradition in the United States spreads to EuropeThe Great Depression sets inThe Crash of 1929Are there anymore causes that the video lists that we did not talk about?people were super optimistic about everything,What is the story of the crash?What is pooling?people would buy stocks, inflate them, and then they would sell them. it was very common.What did the Federal Reserve Board to at this time... if anything.
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