Boom to Bust By Matthew Ryan

During the Harlem Renaissance African Americans started to make more of an influence in the culture of America through their musical, literary, and artistic talent further expanding the acceptance of African Americans into jobs. African Americans were seen as smarter individuals, who were not helpless, but given a lack of job opportunities due to nothing but racial tension. -
Blacks faced a lot of competition with whites in jobs, especially in the 1930s after the Northward movement of African Americans to find jobs after their cotton crops failed and diminished in worth. They were normally the first to be laid off and the last to be hired due to the still high racial tensions of the time. -
Bankers and stock brokers were prosperous in the 1920s, and as the stocks grew, the amount of money they made grew. Often they were seen as being reckless, because when someone bought stock on margin they paid for it without thinking that they would lose their money. -
The recklessness of stock brokers and bankers caught up with them as the stock prices became overvalued and people quickly started to withdraw their money, leading to a sharp drop in the stocks and a crumbling economy. Stock brokers wanted their money back, but since banks failed their was no money to go around, leaving them poor. -
In the 1920s women pursued more freedom after just receiving the right to vote. Some women called flappers dodged conventional standards of behavior and in turn created a new image for women and led a rebellion against these expected behaviors. -
The 1930s marked the end of the "Age of the New Woman" with families trying to make ends meet. Men were often seen as the breadwinners and women would stay home and do work around the house. Some people felt that the movement for gender equality should wait for the end of the end of the depression. -

The 1920s often seen as the economic "boom" of the century was met with the worst economic downturn of America on October 24, 1929. The 1920s was also seen as a major point of change for many Americans. At the start of the decade, women felt empowered as they had been given the right to vote recently. They had begun to change the way that women were expected to act by leaving conventional standards behind for a more "fun" way of living. African Americans were beginning to be accepted into America's culture through The Harlem Renaissance and the Jazz Age. The "boom" led by industrialists, mass production, and a new age of consumerism swept the nation in the early twenties. In the early twenties the economy shifted from an agriculturally based economy to a more industrial economy. This made it hard for farmers and share croppers to pay their bills, forcing them to move North and getting industrial jobs. Businesses needed a way to get their product known so, they began advertising. A surge of consumer culture flooded the nation as people bought goods for personal happiness. Still, people could not afford what they thought they needed, so they used credit, a system of "buy now, pay later" in which people could pay for something when they want it and pay it off over time. All of this consumerism led to booms in the stock market and investors flocked to the trading floor to get a share of a company. Stock brokers would help people pay for stocks, but would expect their money back after withdrawing--even if the stock failed. All of this led to overvalued stock, and as investors began to withdraw their money (sell their stocks) the value would decrease. Starting on October 24th of 1929 the stock market lost 47% of its value in 26 days. People were sent into panic and rushed to the banks to get their money out and into a safer place. Banks then failed as their was not enough money to give back, because it was all being invested or borrowed. People suffered wage cuts to keep their jobs and some people were being fired. African Americans were hit the hardest as 6/10 African Americans lost their jobs.

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