joe -
The start of the decade came with a new way of buying luxuries, what we call today credit. Back then there was no government controlled credit so you basically walk in to store talk to the store owner about what you want to buy using credit and you will arrange something with store owner. There were no credit cards at the time so each store you used a credit, you placed a tab, and if you didn't pay within a certain deadline creditors would come and reclaim your possessions
retail buying on installment of credit
it was easier
it was easier
Credit became widely used for purchasing consumer good for the first time in the 1920s. Prior to this time it was only used by the very wealthy.
People bought a lot of things on credit -- sorta like now
Margin
retail buying on installment of credit
it was easier
it was easier
Stock market crash due to buying on margin and overextention of credit to buy consumer goods.
Credit became widely used for purchasing consumer good for the first time in the 1920s. Prior to this time it was only used by the very wealthy.
Buying on credit is also called Buying on Margin
During the 1920s, buying on credit contributed to a significant increase in consumer spending and economic growth, as it allowed individuals to purchase goods they might not have been able to afford upfront. However, this practice also led to unsustainable levels of debt, which became problematic when the stock market crashed in 1929. The reliance on credit exposed vulnerabilities in the economy, ultimately contributing to the onset of the Great Depression as many consumers struggled to repay their debts.
Credit began in the 1920's so people could buy things. They used it to buy a car and other items. Pay wasn't very high so credit gave them a chance to have things.
To get rich quicker
Buying on Margin
The Republicans