Attitudes in America on Wall Street Before 1929

Warning Signs

The 1920s were a ludicrous time economically. The general wealth of Americans increased greatly, and the quality of life went up. But behind this time of good feelings were signs of an impending disaster.

One of these key signs was the real-estate market. There were always buyers willing to pay large sums for land that could turn a profit. Most important was the stock market. This unregulated playing field proved to be intoxicating for Americans who thought of it as their ticket to getting rich. A great number of stocks were sold on margin, leaving risk involved with their purchase and sale. It must have been hard to have any sort of reason, with slogans like "be a bull on America" becoming gospel. The American Pageant textbook states:

"So powerful was the intoxicant of quick profits that few heeded the voices raised in certain quarters to warn that this kind of tinsel prosperity could not last forever"

Points for Discussion

Was the stock market crash of 1929 simply unavoidable? 

Were the attitudes at the time too overpowering to foresee and prepare for a crash?

Sources: American Pageant textbook