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Thursday, January 13, 2011

The Cause of the Great Depression

In the 1929s, the Stock Market Crash was one of the causes of the Great Depression. Two months after the original crash in October, stockholders had lost more than $40 billion dollars. In 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. As people lost their jobs, they were unable to keep up with paying for items they had bought through installment plans and their items were repossessed.
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