During Roaring Twenties, the U.S. was thriving off of the stock market as prices kept on going up and up, and many believed it would continue, but some were skeptical. Because of all of these rising prices, the price : earning ratio started to get very high. A high P/E ratio can lead to economic problems, and it didn 't help that the U.S. had mroe money out on loans than what was currently circulating. Some noticed that the market was begininng to become a bit unstable, and they tried their best to prevent the crash that was looming over head.
The first scare of the fail of the stock market came on March 25th of 1929, when there was a small crash after investigators sold stocks quickly. To counter the scare in the market, Charles Mitchell, a banker, announced that the national city bank would prvide $25 in credits to stop the market from fallign any farther. While it stopped the panic momentarily, nothing could prevent the fall that was bound to happen.
Signs pointed to it, like the decrease in steel production, construction, car sales, paired with the rising debt of many Americans due to easy credit, to lead up to the imminent crash. However, the market still co...
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... car to earn money since there was no more to gain from the stock market. Citizens of the U.S. had to find work anywhere they could; Unemployed musicians gave outdoor concerts, Some sold apples off the street to get earn a quick buck. African Americans gave up jobs to the whites, because whites got more privileges. Thousands were put out on the streets because they couldn’t pay for their housing.
The Stock Market Crash of 1929 was one of the most devastating things that happened in the U.S. Millions were out of work, starving, struggling to make it; not only did affect society in a monetary way but also in a psychologic way. Those that survived the depression have a habit of collecting anything they can in preparation for what may come. Since then we 've established regulations so another crash is less likely to happen, so we have less of a need to be weary of one.
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