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Slowdown of Economic problem
GNP dips only 2.1 percent this year. Unemployment rises slightly, to 24.9 percent. -
Inauguration of Roosevelt
Roosevelt was elected as 32nd U.S President -
Business Plot
A group of millionaire businessman concerned about the Roosevelt's new plan, so they planned a coup and tried to suborn General Smedley Butler, but he spoiled all the plan -
Welcoming Economic Recovery.
The economy turns around: GNP rises 7.7 percent, and unemployment falls to 21.7 percent. A long road to recovery begins.
Sweden was the first country which fully recovered from the Great Depression -
Establishment of 3 organization
Congress authorizes creation of the Federal Communications Commission, the National Mediation Board and the Securities and Exchange Commission. -
Efforts from authorities
The Supreme Court declared the National Recovery Administration to be unconstitutional and
the Congress created the Works Progress Administration, the National Labor Relations Board and the Rural Electrification Administration. Additionally the Congress passed Banking Act of 1935, the Emergency Relief Appropriation Act, the National Labor Relations Act, and the Social Security Act. -
Politically Weakened Roosevelt
Due to the detection of economic problem from his policies; an unbalanced budget, so he cut spending.
Then the economy plunges into another recession. This recession lasted a year and the GNP falls 4.5 percent, and unemployment rises to 19.0 percent. -
Being rescued from the depression by the emergence of the WWII
World War II starts with Hitler's invasion of Poland.