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World War 1 ends in an Allied victory. Germany and much of Europe is left in shambles from war activities
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Americans enjoying prosperity. Unemployment decreased by 5%, and GNP rose by 5.5%
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Americans now buying big purchases like cars, tractors, and radios on credit.
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Creates a trade barrier for international markets.
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Top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery.
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About sixteen million shares were traded, and the Dow lost an additional 30 points, or 12%
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Result of overproduction and underconsumption.
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2/3 of Americans unemployed
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FDR becomes 32nd president of the US
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FDR passed a series of economic reform laws to help jumpstart the economy. Included were programs such as Social Security and the National Recovery Administration.
