[Leisler]

Existing businesses were all making the same thing.
Few were making money.
Depression comes.
Business profits very slim.
Losses real easy
.....so.
investors real careful.
...but.
FDR was a bull in an economic china shop.
...so.
non one was going to invest, not because the economy was tight, but because FDR made investment unclear. An investor could not tell when the rules were going to change. FDR was picking winners and losers.

[Owl558]

“...FDR made investment unclear. An investor could not tell when the rules were going to change. FDR was picking winners and losers.”

As I remember, one thing FDR did was raise business taxes to pay for the New Deal spending while at the same time regulating business profits. Why would anybody invest in these conditions? You assume all the risks while the government regulates how much return you can make. Even then, the left was all about punishing greedy businesses and the result was just as predictable then as it is now. Sound familiar?

As for the notion that FDR worsened the depression being a recent creation, my father has been stating this SINCE the depression.