Quote:
Originally Posted by GABESTA535
Reagan-like economic policies from Republican presidents Harding, Coolidge, and Hoover are what caused the Depression and what made America turn to FDR and the Democrats. Hoover specifically rejected measures that would have gotten the government more involved in fighting the Depression and was defeated in a landslide.
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No it wasn't. It was the complete opposite of what you made up. The cause was the exact same thing that happened on this depression.
The Federal Reserve lowered interest rates below market which caused the mal investment. Every time government gets involved in manipulating the free market we experience booms and busts. The busts are always worse than the booms. The dot com bubble was the same thing.
Harding got us OUT of the mini depression in the early 1920's in under 2 years. Unemployment went from 12 to under 4.