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Herbert Hoover was President from 1928 to 1932. It should be noted that Herbert Hoover had the logistical knowledge and will to rescue the Belgian people from starvation after WW 1. His crime according to history was underestimating the economic aftermath of the stock market crash of 1929.
Hoover was a sane man with good intentions. Compare that to what we've got now.
Herbert Hoover was President from 1928 to 1932. It should be noted that Herbert Hoover had the logistical knowledge and will to rescue the Belgian people from starvation after WW 1. His crime according to history was underestimating the economic aftermath of the stock market crash of 1929.
Hoover was a sane man with good intentions. Compare that to what we've got now.
There were systemic problems with the economy that predated the market crash. The concept of federal involvement in an economy (ushered in by FDR) was not used up to this time. I'm not sure that ANY of FDR's policies did anything to ease the Great Depression. However, he was an eternal optimist and the nation needed a cheerleader like him at the time, just like we need someone like Trump now.
Sounds like the opening song from "All in the Family"..................... mister we could use a man like Herbert Hoover again.
There were systemic problems with the economy that predated the market crash. The concept of federal involvement in an economy (ushered in by FDR) was not used up to this time. I'm not sure that ANY of FDR's policies did anything to ease the Great Depression. However, he was an eternal optimist and the nation needed a cheerleader like him at the time, just like we need someone like Trump now.
I'll echo that. States were much more powerful in those days. The best and the brightest flocked to state, not the Federal government. Think Robert Moses, Fiorello LaGuardia and the like
There were systemic problems with the economy that predated the market crash. The concept of federal involvement in an economy (ushered in by FDR) was not used up to this time. I'm not sure that ANY of FDR's policies did anything to ease the Great Depression. However, he was an eternal optimist and the nation needed a cheerleader like him at the time, just like we need someone like Trump now.
Sounds like the opening song from "All in the Family"..................... mister we could use a man like Herbert Hoover again.
Quote:
Originally Posted by Hesychios
A complete load of rubbish.
Trump is the cheerleader for ... Trump.
That's it. Trump lies to his supporters to make himself seem more palatable, but what he does he does for Trump.
In this time of trouble, our country needs Trump like we collectively need another hole in the head.
Herbert Hoover was President from 1928 to 1932. It should be noted that Herbert Hoover had the logistical knowledge and will to rescue the Belgian people from starvation after WW 1. His crime according to history was underestimating the economic aftermath of the stock market crash of 1929.
Hoover was a sane man with good intentions. Compare that to what we've got now.
If that happened in the Current Year, the left would be apoplectic over keeping white people from starving.
There were systemic problems with the economy that predated the market crash. The concept of federal involvement in an economy (ushered in by FDR) was not used up to this time. I'm not sure that ANY of FDR's policies did anything to ease the Great Depression. However, he was an eternal optimist and the nation needed a cheerleader like him at the time, just like we need someone like Trump now.
Sounds like the opening song from "All in the Family"..................... mister we could use a man like Herbert Hoover again.
???????????????
Hoovers involved the federal government in the economy. He was the opposite of Laissez-Faire. He implemented the New Deal.
Hoover's own summary of his programs, during his presidential campaign in the fall of 1932:
"We might have done nothing. That would have been utter ruin. Instead we met the situation with proposals to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of the Republic. We put it into action…. No government in Washington has hitherto considered that it held so broad a responsibility for leadership in such times…. "
Ohanian contends that Hoover’s policy of propping up wages and encouraging work sharing “was the single most important event in precipitating the Great Depression” and resulted in “a significant labor market distortion.”
Thus, “the recession was three times worse—at a minimum—than it otherwise would have been, because of Hoover.”
The main reason is that in September 1931, nominal wage rates were 92 percent of their level of two years earlier. Since a significant price deflation had occurred during these two years, real wages rose by 10 percent during the same period, while gross domestic product (GDP) fell by 27 percent. By contrast, during 1920–1921—a period that was accompanied by a severe deflation—“some manufacturing wages fell by 30 percent. GDP, meanwhile, only dropped by 4 percent.”
As Ohanian notes, “The Depression was the first time in the history of the US that wages did not fall during a period of significant deflation.” Ohanian estimates that the severe labor-market disequilibrium induced by Hoover’s policies accounted for 18 percent of the 27 percent decline in the nation’s GDP by the fourth quarter of 1931.
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