The value of stocks on the U.S. stock market begins a six-year upward climb.
November 1928
Republican Herbert Hoover is elected president of the United States. His policies would prove ineffective in fighting the Great Depression that struck in October 1929.
October 24, 1929
Known as "Black Thursday," a record-breaking crash on the New York Stock Exchange begins several weeks of market panics. Many investors lose vast sums of money when the value of stocks plummets. Approximately 12.8 million shares of stock are sold in one day, most at prices far below their values only a few days earlier.
October 29, 1929
Known as "Black Tuesday," the value of stocks on the New York Stock Market continues its dramatic decline. Approximately 16,410,000 shares, a record number, are sold. The nation's economy steadily erodes into the Great Depression, the worst economic crisis in U.S. history.
1931–1932
More than 3,600 banks suspend operations as the Depression deepens and thousands lose their jobs and incomes. 1931
Glass company hires- Sales of glass jars for preserving food at home increases dramatically. Preserving food decreases a family's food expenses.
1931
A drought begins in the Eastern states during the summer and quickly spreads to the Midwest and Great Plains. The drought will continue throughout the decade resulting in "dust bowl" conditions.
1931
New York City reports ninety-five cases of death by starvation as the number of unemployed and those going hungry increases.
1932
Prices for farm produce hit bottom as farmer unrest rises.
1932
The Depression spawns cuts in educational budgets affecting teacher salaries and programs offered and leads to school closures, especially in rural areas.
Congress establishes the Reconstruction Finance Corporation to provide federal financial support to the banking system.(And they were Republicans then too!)
July 2, 1932
Franklin Delano Roosevelt delivers a speech accepting the Democratic nomination for president pledging "a new deal for the American people."
July 28, 1932
Thousands of unemployed and financially strapped World War I veterans and their families, known as the Bonus Army, march on Washington, DC, seeking early payment of previously promised bonus pay, but are denied by Congress. Violence erupts, reflecting badly on the Hoover administration.
November 1932
Roosevelt handily wins the presidential election over incumbent Republican Herbert Hoover but will not be inaugurated until March 4, 1933.
1933
Unemployment reaches 25 percent of the nation's workforce.
1933
Estimates reveal that well over one million Americans are homeless and almost one-fourth are riding the railroads in search of work or aimlessly drifting. Youth comprise 40 percent of that number on the rails.
1933
Membership in teachers' unions such as the American Federation of Teachers (AFT) increases rapidly in reaction to budget and staff cuts due to the Depression.
(Oh-oh!)
March 4, 1933
With the U.S. banking system all but paralyzed, Franklin D. Roosevelt is inaugurated as president declaring "there is nothing to fear but fear itself." March 6, 1933
At 1:00 A.M. President Roosevelt orders a nationwide "bank holiday" from Monday, March 6 through Thursday, March 9, and then extends it through March 12.
Congress begins a special session to approve legislation aimed at economic relief and recovery. Congress passes the Emergency Bank Act in a successful effort to restore public confidence in the banking system.
March 12, 1933
President Roosevelt delivers his first radio "fireside chat," explaining to the American people what has happened in the U.S. banking system.
March 13, 1933
Most U.S. banks successfully reopen.
Congress passes the Agricultural Adjustment Act (AAA), designed to raise farm prices by encouraging farmers to reduce production.
Congress passes the Emergency Farm Mortgage Act to provide loans to farmers in heavy debt.
You should look things up some time.
Your praise of socialism is predictable. Your beloved socialism created, deepened and extended the depression.
You're salivating.