I really want to buy that new inventions, like the vacuum cleaner and the electric washing machines.
Well we don’t have enough money for that but banks are giving loans to everybody meaning since our economy is in an excellent condition this days.
A couple of years later…
You didn’t hear? Apparently, the economy collapsed, and in the newspapers, they are saying that it is the worst economic crisis in the history of the industrialized world. I recommend that you get your money out of the bank as soon as possible.
What is happening? All people are running and screaming outside!
October 24th 1929 Black Thursday
We are going to take our money out of the bank!
For what they say in the newspapers, the stock market crashed, it means that because the banks were giving out loans like money grew on trees and the government wasn’t regulating them, the money kept pouring into the stock market, but it was money that the buyers didn’t really have.
But I don’t understand the economic situation! What happened?
GIVE US BACK OUR MONEY!
A couple of weeks later…
No, they are no jobs available, nobody is hiring, and those who do hire pay with pennies. Also, the lines four soup kitchens span city blocks, and that help is not available to black people, they are being affected by this. The situation is getting worst.
What are we going to do?Unemploymentrate is increasing
Did you find a job?
I can work, lately they are hiring more women and I can help.
Massive marches are organized to force greedy bankers and the government to provide more public services.
Then World War II began...
War time is always lucrative for United States industries. This war would help our economy to get better, it would generate more jobs and everything will be fine.
Funds from abroad began to flow into the United States economy, as foreign nations paid for equipment and products to fight the war.