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skelet666 [1.2K]
3 years ago
7

What effect did the use of credit have on the economy in the 1920s

History
2 answers:
Sati [7]3 years ago
8 0
The main effect that the use of credit had on the economy in the 1920s is that it allowed people to make poor and risky investment decisions that led to a great amount of over-valuation of stocks. This led to the Great Crash in 1929.
ASHA 777 [7]3 years ago
3 0

The main effect that the use of credit had on the economy in the 1920s is that it allowed people to make poor and risky investment decisions that led to a great amount of over-valuation of stocks.

This led to the Great Crash in 1929.


Explanation:

The effect is overproduction, too many credit purchases, stock speculation.

The period from 1920-29 is usually referred to as the 'Roaring Twenties' as a result of it had been a time of noise, spirited action and economic prosperity. the primary warfare had been sensible for yankee business. plant production had up sharply to fulfill the wants of the war

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Answer:

1925

May 19: Malcolm X is born Malcolm Little in Omaha, Nebraska, the fourth of Earl and Louise Little's seven children. Earl, a Baptist minister, is a follower of Marcus Garvey's black nationalism and serves as Omaha chapter president of Garvey's Universal Negro Improvement Association. Louise Little serves as the division secretary.

1926

December: The Littles leave Omaha and move to Milwaukee, Wisconsin.

1928

The Littles move again, this time to Lansing, Michigan. Settling in a white neighborhood, they are sued for eviction on the basis that a restrictive covenant prevents their home from being sold to any non-Caucasians.

November 7: The Little house is burned to the ground. No fire wagon is dispatched to the scene. Looking back Malcolm believes that a local white supremacist group was behind it.

December: Earl Little moves his family to East Lansing and builds a new home there.

1931

September 28: Louise has a premonition about her husband and asks him not to leave the house. Later that night, Earl Little is killed in what police term a streetcar accident, but Malcolm later says that the Ku Klux Klan was behind it. After Earl's death, his wife and children struggle to make ends meet and must apply for public assistance.

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December 23: Louise Little is diagnosed as mentally ill and sent to the Kalamazoo State Mental Hospital, where she will stay for 26 years.

1939

The state places the Little children with various foster families, and Malcolm, who has been kicked out of school in the seventh grade, is sent to a juvenile home in the nearly all-white community of Mason, Michigan. He does well at school there, earning straight A's and being elected president of his 8th-grade class, but his teacher discourages him about pursuing his goal of becoming a lawyer.

1940

Summer: Fifteen-year-old Malcolm visits his half-sister Ella Collins in the Roxbury neighborhood of Boston and is entranced. "I couldn't have feigned indifference if I had tried to," he later says. "I didn't know the world contained as many Negroes as I saw thronging downtown Roxbury at night."

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Explanation:

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