I’m almost conspiracy enough to suggest that the 1929 stock market bogeyman was an engineered take down of the USA in order to usher in massive government control of the economy.
29 was caused by easy money in the form of margins on stock purchases. IIRC margins were as low as 10 or 20%. When a pullback happened the margin calls crashed the market.
Hard to say. Herbert Hoover was all for government control, too. He raised taxes on “the rich,” but not as high as FDR.
No, but the Dems helped take down Hoover. The stock market got over inflated, due to people being able to “trade on the margin.” They could buy on credit. When the market did crash the dems took control of the next congress and then proceeded to block every attempt by Hoover to right the ship of state. He tried to stabilize the banks but congress and Roosevelt blocked him. Hoover has been maligned by liberal history ever since. You should read about how Truman (another who didn’t always go the lib way) respected him.