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By: Kricket In the 1920’s people were having a good time in life. New inventions were being made and many people spending money. Some people thought the good times would last forever. Many invested their money in the stock market expecting to become rich. The stock prices kept going up and up. Some experts warned that the prices were getting to high. On October 29,1929, the bubble burst. This date was called Black Tuesday. Prices started falling and many investors sold their shares. This caused the prices to fall even more. Millions of investors were ruined and some committed suicide. As the crash continued, thousands of people cried as their savings disappeared. As the stock market crash continued, many people lost their jobs. These people needed to spend their savings. When a large amount of people tried to take money out of the banks, a lot of these banks went out of business. The people whom had money in these banks lost all of their money they had been saving. People had very little money, and so they could only buy a few goods at a time. Manufacturers couldn’t sell people their merchandise. Workers who worked in factories then started losing their jobs because the people who owned factories didn’t have the money to pay their wages. More than half the nation was sent into poverty.
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