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Franklin Delano Roosevelt chokes on his food at a convention in 1932, paving the way for Huey Long to become the Democratic presidential candidate.
Long, hoping to provide some economic stimulus to the American economy, misinterprets voices within his own administration badly when he goes to war with the British Empire and annexes Canada. He is soon assassinated.
A second POD in 1932 involves Italy sending observers and military aid to Paraguay during the Chaco War. Italian officers learn many lessons about modern warfare. Eventually, the returned officers stage a coup against Mussolini and instate a less self-interested Fascist leadership.
With a more competent leadership and officer corps, Italy reassesses its geostrategic position and makes a greater effort to ensure it can back up its bluffs. The result is that the Axis powers are victorious during World War II, with Italy and Japan in relatively stronger positions vis-a-vis Germany. All three powers compete with one another along with an America that stayed out of the war.