As the 1920s advanced, the economy soared. But with that dramatic expansion came irrational exuberance and unchecked speculation: stock prices reached levels that had no basis in reality; margin purchases were rampant; banks handed out loans lavishly and imprudently; and giddy product production resulted in a vast oversupply of goods.
On Tuesday, October 29, 1929, it all came crashing down. This is the story of the Great Depression in New York City. [Read more…] about The Great Depression in New York City: A Primer