What effect did the use of credit have on the economy in the 1920s?

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asked Mar 24, 2018 42.3k views

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Tprieboj · Answer 1 · 2018-03-31T17:34:55+0000

It caused the Great Depression, since people invested in buying luxurious things, which caused a great amount of debt for themselves. Rising debt led to restrictions on new loans, more bankruptcies, etc.

What effect did the use of credit have on the economy in the 1920s?

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