This book by James Grant is the best on this "forgotten depression" which was reversed in a year - by Government doing nothing.
Actually the financial crisis was in 1921, and it was Harding who took Mellon’s advice to do nothing. It was great advice!
Well, I also like Harding. I think he got a very bad rap. Oddly enough, I had a teacher, around 1972, when I was about 12, who HATED Harding and made a big deal out of it. Sort of like a Never Trumper, but Never Harding. And she wasn’t all that old. Weird.
From what I’ve read Harding did do something.
He cut spending, shrank the government.
The economy rebounded
This book by James Grant is the best on this "forgotten depression" which was reversed in a year - by Government doing nothing.