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U.S. enters World War I
The war first began in 1914 but the United States hadn't joined til 1917 -
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Roaring Twenties
Corresponde al periodo de prosperidad económica que tuvo Estados Unidos desde 1923 hasta 1929, como parte del periodo expansivo de un ciclo económico. Esta prosperidad benefició a toda la sociedad e hizo que la economía siguiera creciendo a un ritmo que no se había registrado antes, generando una burbuja especulativa. Pero esta prosperidad duraría un corto periodo que finalizaría el 24 de Octubre de 1929, conocido como el Jueves Negro, y con la llegada del Crack del 29 -
Mini-Crash
A mini-crash begins as investors start to sell, revealing the market’s shaky foundations. For the many people playing the market with borrowed money, the day is a disaster, as margin calls wipe out their holdings. While the investors seek to borrow more money, interest rates soar to 20 percent. The New York Daily News calls it a “selling avalanche." -
Young Plan in effect
A program to aid the Germans in their reparation debts after WWI. It was introduced after it became apparent that Germany could not meet its huge annual payments and further reduced its reparations. -
Stock Market Activity Hits All-Time High
Banks were heavily invested in stocks, and individual investors borrowed on margin to invest in stocks, due to a staggering increase in economic activity. -
Black Thursday
The stock market crash did not happen over night. In fact, it happened over a five day period. The first sign of trouble in the Stock Market occured on this day. Typically at this time period the stock exchange traded 4 million shares each day, but on this day, a record bracking 12.9 million shares were sold/exchanged. The systems could not handle the trading volume, which led to panic selling. At one point, the ticker was 90 minutes behind. By the end of the day, the market fell 33 points (9%) -
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The Great Depression
global economic crisis which lasted during the 1930s, was the longest depression in time, deeper and affecting more countries in the twentieth century. In the XXI century it has been used as a paradigm of how far can cause serious deterioration of the economy worldwide. -
Black Monday
The market seemed to bounce back on Friday (Oct. 25). This led to a false sence of security. On this day, trading volumes were about 9.25 million shares. By the end of the day, the market was down another 13%. -
The triumph of political extremism
The economic crisis caused the loss of public confidence in democracy. In this environment extremist parties gained support.
The workers and peasants increased their support for the Communist parties, while the middle class and the bourgeoisie began to support far-right parties. In almost all countries fascist parties were created. In this environment there was a wave of dictatorships. The most important case was Germany, where he won the Nazi regime, led by hitler -
Riots begin
Food riots broke out, workers marched in protest and "foreign workers” were deported so Americans could have their jobs. -
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Dust Bowl
The Dust Bowl was the name given to the Great Plains region devastated by drought in 1930s depression-ridden America. The 150,000-square-mile area, encompassing the Oklahoma and Texas panhandles and neighboring sections of Kansas, Colorado, and New Mexico, has little rainfall, light soil, and high winds, a potentially destructive combination. -
Franklin Roosevelt first elected
At the age of 51, Franklin Roosevelt was first inaugurated as president of the United States of America. His was the last to be held in March. All subsequent ones were held in January under the 20th Amendment. He greatly helped the US in the Great Depression. -
New Deal
The New Deal was the title President Franklin D. Roosevelt gave to the series of programs he initiated between 1933 and 1938 with the goal of providing relief, recovery, and reform (3 R’s) to the people and economy of the United States during the Great Depression. Historians distinguish between the "First New Deal" of 1933, which had something for almost every group, and the "Second New Deal" (1935–36), which introduced class conflict, especially between business and unions. -
Hitler became chancellor of Germany
Adolf Hitler took the reins of a 14-year-old German democratic republic which in the minds of many had long outlived its usefulness. By this time, the economic pressures of the Great Depression combined with the indecisive, self-serving nature of its elected politicians had brought government in Germany to a complete standstill. Now, the man who had spent his entire political career denouncing and attempting to destroy the republic, was its leader. Nazis cheered him on. -
Franklin Delano Roosevelt
was a politician, diplomat and American lawyer, who reached to act as the thirty-second President of the United States and has been the only one to win four presidential elections in that country, is known for his economic theory (NEW DEAL) -
John Maynard Keynes
he was a British economist, considered one of the most influential of the twentieth century. His ideas had a strong impact on economic theories and policies. According to Keynes the crisis of 1929 had withdrawn the demand and it was necessary somehow stimulate, generating additional demand should suggest production. Therefore advocated an active state intervention to redress the balance between supply and demand.
