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To: Clemenza
WRONG! Herbert Hoover wasn't the "architect" of the Great Depression. It was poor federal reserve policy in the late 1920s that caused the depression. Hoover and Roosevelt only made things worse by their meddling in the economy.

I thought Smoot-Hawley had a lot to do with the depression.

225 posted on 08/12/2005 4:55:05 PM PDT by oldbrowser (You lost the election.........get over it.)
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To: oldbrowser

Smoot-Hawley put the nail in the coffin for Hoover's political career. Of course, there are many on this site who believe that if we "raised tariffs" to "pertect factory jahbs" we would go back to being a blue collar, smokestack nation again. It was STUPID then and is STUPID now.


228 posted on 08/12/2005 4:56:51 PM PDT by Clemenza (Intelligent Design Isn't Very Intelligent)
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To: oldbrowser

Smoot-Hawley probably did not cause the initial downturn but it was instrumental in turning a garden-variety recession into a full-scale depression.


231 posted on 08/12/2005 4:57:58 PM PDT by Austin Willard Wright
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