10 Aug 1929 Jahr - Herbert Hoover became president and depression starts

Beschreibung:

Herbert Hoover became president. He then lowered the top income tax rate as well as the top corporate rate. The great depression began in August shrinking the economy. In September the stock market reached its peak before crashing October 29th. The great depression began because many investors were wiped out, since they had invested money they borrowed from their stock brokers.

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