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The stock market crash of 1929 had devastating effects on the economy, politics and the society itself. Though it was not the main cause for the Depression, it was certainly a factor. The Depression left many people homeless and jobless and without hope. On Tuesday October 29, 1929 the industrial index dropped 43 points and 16 million shares were sold off. This was called "Black Tuesday" and remains one of the worst days in US history to this day. There were a few signs that something was wrong, but these were not the only cause of the depression; only a few markets holding up the economy was a result of lack of diversification. The rich get richer and the middleman does not mean that there was a misdistribution of purchasing power. Banks were troubled by many farmers borrowing money to expand for WWI. Our position in international trade, Europe was in debt and couldn't buy any American goods. And we were lending Germany money to pay off Great Britain.
The economy was in......

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Approximate Word Count: 878
Approximate Pages: 4 (250 words per double-spaced page)

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