On the modern PC, you are running what are called threads and processes. And there are always hundreds of them running at any given time. Obviously, this is probably confusing given that you only have 2 cores.
Well, what the OS does is it schedules them to be ran for a given amount of time before the next in the queue is allowed to run. The more cores or threads you have, the more work the pc can get done in a given amount of time.
Something like Fallout could easily spawn 16 threads, and at any given time 4-10 of them could be active. If you don't have enough cores to support it, then you cause some serious delays.
The reason this is important, is because anything that takes a long time on one process will actually stall the program. So loading junk, will cause the game to freeze if Fallout was just one core. The OS can still manage this just fine with one core, and multiple threads because of the reason above. But you are still running into a problem with the core not being able to support a massive load at a reasonable speed.