January 30th- Presentation day
* Stock market crash
when a stock crash happens a significant across-section of a stock market resulting in significant money loss
Credit boom( cause of the crash)- rapid expansion of lending by financial institutions
people got loans from the bank to buy stock and were unable to pay back when loans were due so they got affected.
buying on the margin- you could pay 10-20% of a share and meant you were borrowing 80-90% of shares
people ended up getting more money per share for less stocks this created "margin Millionaire"
so once the stock profits fell it wipes most of them because they owed large amount of money.
there was over production
people were unable to buy all of these things once they lost all their money and cash
Because of the crash, 30,000 banks in america were prone to becoming bankrupt if they were to run out of funds/ deposits
many banks in rural area went bankrupt due to agricultural recession
Unemployment rates raised
January 31 Th- We just watched a video in class
February 1st- I wasn't at school, STAR EVENTS
February 2nd- Basic notes
Clara Bow- became THE flapper of the 1920s
for fashion the corset was gone and hats were totally in!!!!!1
beach fashion became more scandalous
flagpole sitting- Alvin Kelly
Oxford bag
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