• Caused a lot of poverty
• People lost their money, could not repay their debts —› People lost their houses (due to foreclosure) and belongings

An overproduction of goods:

• Warehouses were filled faster than the products could be sold —› prices were lowered to make products more disrable and available to people
• People bought luxury items on credit

A surplus of banks, which gave out too many loans:

• Certain times and products had to be repossessed.