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This caused an abundance of products to be thrown away and wasted negatively affecting the economy as well.
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This led to the stock market greatly rising after the Great Depression. Then, people sold the stock and a lot more money in stock was sold than the stock was actually worth.
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This is also called "Black Tuesday". Millions of dollars were lost from thousands of investors. A major cause of the Great Depression.
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This caused many banks to run out of money so many banks had to close. Therefore people did not have money to use to buy things from stores and factories.
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People did not have enough money to buy what was being mass produced so there were tons of excess products being produced for no reason.
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There was a 30 % increase in tariffs on German goods by the United States, England and France. Both economies went down and there was a lack of goods as well.