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Financial Collapse - Coggle Diagram
Financial Collapse
A Flawed US Economy
Uneven distribution of wealth, overproduction by business and agriculture, and many Americans were buying less were problems being caused in the U.S. economy
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Farmers were unable to sell their crops at a profit, many farmers could not pay off the bank loans that kept them in business
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The stock market crashes
New York City's Wall Street was the financial capital, banks and investment companies
Soaring prices for stocks, began buying stocks on margin
Ment they paid a small percentage of a stocks price as a down payment and borrowed the rest from a stockbroker
It worked only if the prices were rising but they fell and investors had no money to pay off the loan
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