The Great Depression began with a stock market crash in 1929. That summer, consumer spending dropped and unsold goods were sitting and slowing production. While this was happening, stock prices were rising and reached levels that couldn’t be justified by future earnings. In October, investors began dumping shares and then that day, October 24, 1929, became known as “Black Thursday.” The next Tuesday became known as “Black Tuesday” because another 16 million shares were traded because of panic. Millions of shares became worthless and wiped out some investors completely. Businesses began firing workers and reducing wages. Many Americans were forced to run off of credit which turned into debt. By 1930, millions of Americans couldn’t find work
