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Topic: History
Number of pages / Number of words: 2 / 530
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Unfortunately the tables were turned when prosperity was a dream and the depression was what the people had to live with.

Although the depression seemingly came out of nowhere, there were signs that "if the American economy sneezed, the rest of the world would get pneumonia" (klingaman, 137) Credit buying, over production and the nightmare caused by hope of perpetual prosperity, the signs were there, but nobody had the time to check, probably because they were too busy doing the Charleston...


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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...


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