Breakthroughs and everyday innovations from the year.
HEADLINES ON May 12, 1931
Full News Archive
- Headline: Separation from Converse: A Legal Milestone. Impact: In a twist of fate, this separation led to the invention of the 'Converse Conversation,' a social event where people discuss their footwear choices instead of their relationship status. It became a hit, causing a worldwide obsession with shoes over love. Who knew a marital split could lead to such fashionable repercussions?. Fact: Did you know that Converse shoes were originally designed for basketball? Now they just help people avoid talking about their feelings..
- Headline: Trade Pact Links Austria, Hungary, Italy. Impact: This trade pact set off a chain reaction that eventually led to global trade agreements, which then spiraled into a world where countries were more likely to trade goods than engage in actual wars. You know, because a nice pair of lederhosen is more appealing than a military conflict.. Fact: Fun fact: Austria, Hungary, and Italy can all agree on one thing β it's much easier to argue about pasta than about politics..
- Headline: Hoover's Psychological View on Depression. Impact: Hoover's belief that the slump was 'mental' inspired generations of psychologists to delve into economic theories, creating a new niche in therapy: 'Financial Anxiety Counseling.' Millions now seek help for their irrational fears of losing money while simultaneously spending it on avocado toast.. Fact: Did you know that Hoover was also known for his love of vacuum cleaners? Some say he thought he could simply 'suck up' the Depression..
- Headline: Call Money Renewal Rate Down to 1% Here, Lowest Since 1908; Withdrawals Are Heavy. Impact: This drop in the call money renewal rate led to a financial dance-off, with banks competing over the lowest rates, inadvertently setting the stage for future economic crises as everyone tried to outdo each other with their 'generosity.'. Fact: If only the call money rate could call it a day and retire; it hasn't been this low since my last attempt at a budget!.
- Headline: Charge Against Teacher Dismissed.. Impact: The dismissal of this charge against the teacher created a ripple effect in the education system, leading to a new policy where teachers are now tried for crimes against creativity rather than misconduct. The rise of 'artistic freedom' began here.. Fact: Did you know that in some places, teachers are still charged for having too much fun in the classroom? Apparently, there's a fine line between education and entertainment..
- Headline: Naval Launch Is Successor to Mayflower; Discarded Boat Fitted Out for President. Impact: The launch of this naval vessel led to a wave of maritime enthusiasm, and suddenly everyone wanted to be a sailor. This βMayflower Effectβ resulted in the rise of a new generation of Instagram influencers who think they can navigate the seas with a selfie stick.. Fact: Did you know the original Mayflower had a much less glamorous launch? It was more of a 'let's hope we don't sink' kind of vibe..
- Headline: AERONAUTIC INSTITUTE OPENED BY JAPANESE; Huge Laboratory Is Designed to Give Nation a Leading Role in Technical Aviation Progress.. Impact: This opening marked Japan's determination to dominate the skies, which led to an aviation arms race, ultimately resulting in the world's first flying sushi restaurant. Who knew sushi would take flight before we did?. Fact: Did you know that the Japanese invented karaoke? So next time you hear a poorly sung version of 'I Will Survive,' remember that it could have been a pilot instead!.
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1931, it would be worth $586,657 today (586.7x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1931, it would be worth $474,914 today (474.9x return)
GE
General Electric
General Electric - If you invested $1,000 in 1931, it would be worth $487,500 today (487.5x return)