Roaring Twenties in the context of "Economic bubble"

The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street crash of 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Germany.

The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing wealth inequality. Banks were subject to minimal regulation, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment. Share values continued to rise until the October 1929 crash, after which the slide continued until July 1932, accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25%, about one-third of farmers had lost their land, and 9,000 of its 25,000 banks had gone out of business. President Herbert Hoover was unwilling to intervene heavily in the economy, and in 1930 he signed the Smoot–Hawley Tariff Act, which worsened the Depression. In the 1932 presidential election, Hoover was defeated by Franklin D. Roosevelt, who from 1933 pursued a set of expansive New Deal programs in order to provide relief and create jobs. In Germany, which depended heavily on U.S. loans, the crisis caused unemployment to rise to nearly 30% and fueled political extremism, paving the way for Adolf Hitler's Nazi Party to rise to power in 1933.

A historical drama (also period drama, period piece or just period) is a dramatic work set in the past, usually used in the context of film and television, which presents historical events and characters with varying degrees of fiction such as creative dialogue or scenes which compress separate events. The biographical film is a type of historical drama which generally focuses on a single individual or well-defined group. Historical dramas can include romances, adventure films, and swashbucklers.

Historical drama differs from historical fiction, which generally presents fictional characters and events during historical events. A period piece may be set during a vast era such as the Middle Ages, or a specific period such as the Roaring Twenties, or the recent past.

Freda Josephine Baker (née McDonald; June 3, 1906 – April 12, 1975), naturalized as Joséphine Baker, was an American-born French dancer, singer, and actress. Her career was centered primarily in Europe, mostly in France. She was the first Black woman to star in a major motion picture, the 1927 French silent film Siren of the Tropics, directed by Mario Nalpas and Henri Étiévant.

During her early career, Baker was among the most celebrated performers to headline the revues of the Folies Bergère in Paris. Her performance in its 1927 revue Un vent de folie caused a sensation in the city. Her costume, consisting only of a short skirt of artificial bananas and a beaded necklace, became an iconic image and a symbol both of the Jazz Age and the Roaring Twenties. Baker was celebrated by artists and intellectuals of the era, who variously dubbed her the "Black Venus", the "Black Pearl", the "Bronze Venus", and the "Creole Goddess". Born in St. Louis, Missouri, she renounced her U.S. citizenship and became a French national after her marriage to French industrialist Jean Lion in 1937. She adopted 12 children which she referred to as the Rainbow Tribe and raised them in France.

In the history of the 20th century, the interwar period, also known as the interbellum (from Latin inter bellum 'between the war[s]'), lasted from 11 November 1918 to 1 September 1939 (20 years, 9 months, 21 days) – from the end of World War I (WWI) to the beginning of World War II (WWII). It was relatively short, yet featured many social, political, military, and economic changes throughout the world. Petroleum-based energy production and associated mechanisation led to the prosperous Roaring Twenties, a time of social and economic mobility for the middle class. Automobiles, electric lighting, radio, and more became common among populations in the first world. The era's indulgences were followed by the Great Depression, an unprecedented worldwide economic downturn that severely damaged many of the world's largest economies.

Politically, the era coincided with the rise of communism, starting in Russia with the October Revolution and Russian Civil War, at the end of WWI, and ended with the rise of fascism, particularly in Germany and Italy. China was in the midst of a half-century of instability and the Chinese Civil War between the Kuomintang, the Chinese Communist Party, and many warlords. The empires of Britain, France, and others faced challenges as imperialism was increasingly viewed negatively and independence movements emerged in many colonies; in Europe, after protracted low-level fighting most of Ireland became independent.

The Wall Street crash of 1929, also known as the Great Crash, was a major stock market crash in the United States which began in October 1929 with a sharp decline in prices on the New York Stock Exchange (NYSE). It triggered a rapid erosion of confidence in the U.S. banking system and marked the beginning of the worldwide Great Depression that lasted until 1939, making it the most devastating crash in the country's history. It is most associated with October 24, 1929, known as "Black Thursday", when a record 12.9 million shares were traded on the exchange, and October 29, 1929, or "Black Tuesday", when some 16.4 million shares were traded.

The "Roaring Twenties" of the previous decade had been a time of industrial expansion in the U.S., and much of the profit had been invested in speculation, including in stocks. Many members of the public, disappointed by the low interest rates offered on their bank deposits, committed their relatively small sums to stockbrokers. By 1929, the U.S. economy was showing signs of trouble; the agricultural sector was depressed due to overproduction and falling prices, forcing many farmers into debt, and consumer goods manufacturers also had unsellable output due to low wages and thus low purchasing power. Factory owners cut production and fired staff, reducing demand even further. Despite these trends, investors continued to buy shares in areas of the economy where output was declining and unemployment was increasing, so the purchase price of stocks greatly exceeded their real value.