Mientras tenía lugar la Gran Depresión en Estados
Unidos governaba Herbert Hoover.
En vocabulario: logging y para
saber: dust-bowl
Herbert Hoover,
widely shamed for not doing enough to combat the crisis, lost the election of
1932 to Franklin Delano Roosevelt by an embarrassingly wide margin.
… se reunió con ejecutivos de la industria. Les
pidió que los sueldos se mantuvieran.
… ya las mercaderías se amontonaban en las vitrinas
y las ganancias continuaban disminuyendo.
The Great Depression began with the Wall
Street Crash in October 1929.
The usual
explanations include numerous factors, especially high consumer debt,
ill-regulated markets that permitted overoptimistic loans by banks and
investors, and the lack of high-growth new industries. These all interacted
to create a downward economic spiral of reduced spending, falling confidence
and lowered production. Industries that suffered the most included
construction, shipping, mining, logging
and agriculture (compounded by dust-bowl conditions in the
heartland). Also hard hit was the manufacturing of durable goods like
automobiles and appliances, whose purchase could be postponed. The economy hit
bottom in the winter of 1932–33; then came four years of growth until the
recession of 1937–38 brought back high levels of unemployment.
