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Key Industries in the 1920s
With the introduction of the production line, Cars were being made rapidly; by 1929, 4.8 billion cars had been made.
Many advancements were made in aviation during the 1920s. Famous aviators began attempting to set records as airplanes grew in size and speed with longer flying times.
Products such as telephones, radios, vacuum cleaners, and washing machines were being made on a large scale at an affordable price. -
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sources :D
https://www.thebalancemoney.com/roaring-twenties-4060511
https://en.wikipedia.org/wiki/Wall_Street_crash_of_1929
https://study.com/academy/lesson/airplanes-aviation-in-the-1920s.html#:~:text=The%201920s%20is%20known%20as,from%20one%20place%20to%20another.
https://www.federalreservehistory.org/essays/stock-market-crash-of-1929 -
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The Roaring Twenties: Economic Boom and Social Change
The Economy boomed during the 1920s, giving birth to new ideas and ways of thought.
The economy grew 42% during the Roaring '20s, and the U.S. had come to produce nearly half of the world's output due to WW1 devastating large parts of Europe.
Between 1920 1929, farming had declined from 13% to 10.3% of the economy, but at the same time, new inventions sent manufacturing of consumer goods soaring. -
The Volstead Act
The Volstead Act prohibited the sale, manufacture, or transport of any alcoholic beverages. This led to an underground economy dominated by gangsters like Chicago's Al Capone. -
19th Amendment
Women had won the right to vote in America. This empowerment trickled down many levels of society. So-called flappers cut their hair, dressed in less constrictive clothing, and became financially independent. -
The Stock Market Speculation
After the stock market had dropped more than 32% in 1920, the Dow Jones Industrial Average jumped from a value of 63.9 points in August of 1921 to a high of more than 381 points.
Financial innovations were another reason for the boom. Buying on margin enabled investors to purchase more stock than they could previously afford and, eventually, realize more significant gains if the stock price went up. -
V.P. Coolidge
Vice President Calvin Coolidge became president after Harding died from a heart attack while on a speaking tour in San Francisco. -
The Beginning of the Stock Market Crash
The financial boom had occurred in an era of optimism. Families and New technologies prospered. A new industry of brokerage houses, investment trusts, and margin accounts enabled ordinary people to purchase corporate equities with borrowed funds. the stock people had bought served as collateral for the loans, borrowed money poured into equity markets, and stock prices soared.
But this all came to a sudden end on October 28, 1929, further known as "Black Monday." -
The Stock Market Crash of 1929
The roaring twenties came to a destructive crash on "Black Monday," October 28, 1929, when the Dow declined almost 13%. The following day, "Black Tuesday", the market dropped another 12%. By mid-November, the Dow lost nearly half of its original value.
Black Tuesday caused investors to begin panic-selling, which reached its peak with some stocks having no buyers at any price.