During the summer of 1929 Americas spending went down, Meanwhile stock prices were continuing to rise. On September 20th, 1929 the stock market officially crashed. Many lives were ruined. Large proportions of investors were buying on a margin. Buying on a margin means that you work with a broker to take out loans for investments. Leading up to the crash the impending horrors were becoming predictable. The American people raised to the market to sell their stocks. During this time Many American businesses went under or experienced cutbacks. The people that lost their job and or income from the crash couldn't pay their bills. Unable to pay for the monthly loans, people were forced to foreclose on the homes because Americans were unable to pay the banks back on their house many banks went out of business. …show more content…
Americans that were from wealthy families or had large fortanes made it through largely unscaved. The lower in middle class felt the strain, many middle class lost their homes and lively hoods. Unemployment rose at record rates. Black men who already had a hard time with work found it near impossible. Black women experienced better luck in the job market than the men working as clerks, maids, textilers and other professions. American Families that would have had a divorce stayed together because it was to hard to pay for divorce lawyers. Social programs created by Frankwin Delaware Roosevelt targeted white men. And Mexican Americans were illegally deported in outrages