1. Great Depression
So needless to say credit was established and by the end of the 1920's 60% of the cars and 80% of the radios were bought on installment credit . ... Like always, the U.S tried to be the world's banker ,but this time it backfired on them .Europe could not pay back the interest on the loans nor could they buy any goods with gold, so this led the America to "The Great Depression" real fast . ... Our national income also went from 80 million to 30 million, causing president Hoover to lower all taxes to increase income. ... Luck really turned around when presid...
- Word Count: 912
- Approx Pages: 4
- Has Bibliography
- Grade Level: High School