Worse Than tRump? 7 Bad Presidents for Your Consideration

VERY VERY VERY BAD PRESIDENT

After the Stock Market Crash of 1929, Herbert Hoover insisted that government intervention was not only unnecessary, but would actually make things worse. If banks and businesses demonstrated confidence and refused to panic, he reasoned, the market would naturally rebound.

However, the financial world did panic and consumer confidence did plunge, ushering the Great Depression. Hoover attempted to deal with the crisis by encouraging what he called “volunteerism”, a scheme that relied on the good will and generosity of the business community. When the market faerie failed to perform the expected transformation, the depression deepened and became global.

When the market faerie failed to perform the expected transformation, the depression deepened and became global.

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