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The shock market crash, coupled with farmers' problems and the overuse of credit in the late 1920s, led to widespread financial instability and economic hardship. Many farmers faced bankruptcy due to falling crop prices and debts they could not repay, exacerbating the agricultural crisis. This situation, along with the Stock Market collapse, contributed to the onset of the Great Depression, resulting in soaring unemployment and a significant contraction of the economy. Ultimately, it highlighted the dangers of over-leveraging and the interconnectedness of various economic sectors.

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