Great Depression Dbq

Words: 202
Pages: 1

Another cause of the Great Depression were the instalment plans from the 1920s that American citizens could not pay it’s monthly fees after the stock market crash that lead to the repossession of their housing and possessions. The overpriced purchases like the “$35,000 boat” in Document 8 and other products from instalments increased, “at a faster rate than their income was expanding”(Document 6), which made it inevitable from instalments to sap the whole economy at a extreme level of financial debt and taxes. This causes the repo men to start repossessing every customers’ possessions because of their massive debt of instalment fees all across America. This makes millions of Americans debtors and causes a steep rise of the unemployed rates.