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THE WALL STREET CRASH- 1929

Description

History

Mind Map by Tasnim Quddus, updated more than 1 year ago

	Created by Tasnim Quddus over 9 years ago

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Resource summary

THE WALL STREET CRASH- 1929

CAUSES
1. share prices fell rapidly
  1. investments fell in value
  2. people rushed to sell shares
    1. share prices went even lower
  3. investors lost $4000 million in a week
    1. no more loans to Germany
WHAT HAPPENED?
1. Banks lost lot of money
  1. people took all savings out
    1. ALL MONEY IS GONE
2. businesses closed
  1. unemployment rose
  2. no one buying goods
CONSEQUENCES
1. Middle class lost savings, businesses and homes
2. working class unemployed
  1. government loses tax revenue
    1. Germany cant afford to pay reparations
3. Bruning relied on Decrees to solve situation (failed)
4. increased members of extremist groups

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