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It was the economic crisis the world had never seen. When The Great Depression of October 29 1929 hit Canada and the world, it hit hard. The economy dropped like a stone. Unemployed single men were sent to relief camps and the numbers of unemployed reached the tens of thousands across Canada. Even though The Great Depression hit suddenly, when the stock market did crash the signs were there. Anybody who had been paying attention in the 20’s could have predicted The Great Depression.

Although hindsight is 20/20 The Great Depression could have been predicted, if anyone was paying attention to the dangers of credit buying. During the 20’s credit buying became extremely popular. The main concept was buy now, and only pay small amounts over time. Sadly it wasn’t as simple as it appeared due to compound interest rates over time. An item was bought at the original price; eventually it was cheaper than credit buying. As credit buying swept the country the potential economic blow was......

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Approximate Word Count: 622
Approximate Pages: 3 (250 words per double-spaced page)

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