Friday, December 10, 2010

Topic 1: Overproduction, Buying on Credit, and Uneven Distribution of Wealth

August 28, 1929

The twenties have been a great decade for my family. Living on a farm, credit has allowed us to get new farm equipment and grow crops to sell much quicker. I hope soon we will be in the wealthier class. I think this would be great for my family. Our investments in the stock market are flourishing and we are continuing to make money.  This is Great News!

October 29, 1929

Everything I had hoped for has failed. Today, I believe, is the absolute worst day of my life. It's known in the newspapers as "Black Tuesday". The stock market plummeted. Crashed completely. At least 87% of my family's income was invested into our shares in the stock market. Now, it's gone. Thousands of dollars evaporated. Never to be seen again. My parents continue to fight and our family is falling apart. This month has been awful. With the investors in the stock market losing their money and relying on loans and credit to feed their families, everything is failing. Banks and businesses are foreclosing and people can't afford anything. Our crops aren't selling. Our farm has overproduced with no businesses or customers buying because at least 65% of our nation's population is now in poverty. The few that got out of the market before its sudden decline are in the wealthy class. This is now our minority class and they refuse to share their wealth for fear that they will be suffering soon as well. Our economy continues to get worse and people continue to suffer.

The Crash '29 Photo Gallery

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