In October 1929 the stock market crashed, destroying 40% of the paper values of common stock. Even after the stock market collapse, politicians and industry leaders continued to question positive predictions for the nation's market. But the Depression grew deeper, assurance faded and many lost their life savings. Businesses closed their doors, factories shut down and banks were unsuccessful. Farm profits dropped 50 percent. By 1932 around one out of every four Americans were unemployed.
The center of the problem was the huge gap between the country's creative ability and the ability of peo…
