The 1920s, or more commonly known as the roaring twenties was an American age of dramatic cultural and political change. Many musical and cultural innovations changed many aspects of The American lifestyle along with political and social contributions. Many overwhelming invention and contributions to American lifestyle arose during the roaring twenties, but some would actually lead America into something far worse. Due to various social, economical, and political events, America would be plunged into the worst economic depression the United states has ever seen.
Many social events had an influence in the road to the American depression. long lasting droughts created a period of severe dust storms from southeast Colorado to the Texas panhandle that came to be called the Dust Bowl. Those dust storms choked towns, killing crops and livestock, sickening people, and causing millions in damage. When the stock market crashed in 1929, and many banks failed, many people stopped spending money, deepening the economic crisis because people would not pay off goods that they had …show more content…
As a result of the crash market of 1929 or “Black Thursday”, it caused values of stocks of many companies to collapse. As a result, many companies could not afford to stay in business and thousands lost their jobs, contributing to the mass unemployment. Continuous to the crash market, fear of bank failure grew and people began to withdraw their money which put many banks in danger. As more people began to desperately withdraw their money, more banks began to fail and close rapidly. Purchasing goods on installment plans or on credit was a popular practice in the 20’s but many took advantage of it. People began to abuse this method of paying by buying goods like appliance with money they simply did not have. Late and nonexistent payments of this goods contributed to the stock market crash and plummeting into financial
Many social events had an influence in the road to the American depression. long lasting droughts created a period of severe dust storms from southeast Colorado to the Texas panhandle that came to be called the Dust Bowl. Those dust storms choked towns, killing crops and livestock, sickening people, and causing millions in damage. When the stock market crashed in 1929, and many banks failed, many people stopped spending money, deepening the economic crisis because people would not pay off goods that they had …show more content…
As a result of the crash market of 1929 or “Black Thursday”, it caused values of stocks of many companies to collapse. As a result, many companies could not afford to stay in business and thousands lost their jobs, contributing to the mass unemployment. Continuous to the crash market, fear of bank failure grew and people began to withdraw their money which put many banks in danger. As more people began to desperately withdraw their money, more banks began to fail and close rapidly. Purchasing goods on installment plans or on credit was a popular practice in the 20’s but many took advantage of it. People began to abuse this method of paying by buying goods like appliance with money they simply did not have. Late and nonexistent payments of this goods contributed to the stock market crash and plummeting into financial