Can you translate these two sentence into English that would make sense to a 10 year old? ?

Question

This is about the Great Depression by the way.

"Overexpansion of credit through installment-plan buying overstimulated production. Paying on so-called easy terms caused many consumers to dive in beyond their depth."

simple english: Jack ran to the park.

annoying english: Jack had a ruddy complexion as he hotfooted to the park.

Answer 1

People took more money from banks than they could afford, making many of the people unknowlingly owe the bank more money than they had.

Answer 2

People bought stuff they really couldn't afford on credit, instead of saving up for it.  When it was time to pay the money back, they found they couldn't afford to.

Answer 3

"Overexpansion of credit"  People lent out more than people could pay.

"through installment-plan buying"  The loans got paid back in installments.

"overstimulated production"  People produced more than others wanted to buy.

"Paying on so-called easy terms"  People were given a low payment..maybe a low monthly payment.

caused many consumers to dive in beyond their depth."

People could not pay back what they owed.

People leneded out more than people could pay.   The loans got paid back in installments.  People produced more than others wanted to buy.    People were given a low payment..maybe a low monthly payment.  People could not pay back what they owed.

Answer 4

People got more loans than what they could afford, and they were usually granted. Although by buying more the economy improves, people were not able to pay back their loans, so they would get more loans to fix the problem.