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Borrowing money to buy shares, then selling them
when the price has risen
A quick way to make a profit
E.g. Women owned over 50% if the `petticoat line'
which earned a lot of money…read more

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Short term causes of the
Share prices started to fall in summer 1929
Media hype
People buying on the margin
Lack of confidence
Companies were forced to pay out profits to
People borrowed money on credit to buy their
shares, i.e.. They took out loans…read more

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Long term causes of the Crash
Over production
Unequal distribution of wealth
After World War 1, weapon factories declined: jobs
were lost
Too much money was spent on advertising
Less trade with Europe
Foreign competition…read more

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Timeline of the Crash
19th October 1929: prices falling
20th: market closed
21st: prices rose slightly
22nd: prices rose
23rd: many people decided to sell
24th: prices fell fast
25th: prices steadied
26th: people were encouraged to continue buying
28th: heavy selling and buying, prices falling
29th: no one wanted to buy, shared were worthless

Slide 6

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Many people ended up bankrupt
A lot of people lost their homes because they could
no longer pay their mortgages
Farmers lost their farms for the same reason
About 11,000 banks stopped trading
Production, wages and employment fell
Hoovervilles were shanty towns that were set up for
the homeless to live in

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