The 1920s was one huge bubble...
Yes, but what Smoot Hawley did was make the bursting of the bubble worse.
The 1920s was one huge bubble...
I completely disagree. A depression under Coolidge would have been far worse in the long run. What you are saying, is practically defending laissez-faire economics.
No, it really wouldn't be worse.
That tariff bill effectively created a tariff war between nations that created the Great Depression as we know it, expanding it beyond a large but simple Panic.
Now, unlike Hoover he won't support New Deal like policies which will certainly hurt in the long run, but overall the Recession is much smaller and unemployment far below what we experienced historically. Coolidge might actually also live out his term, considering while the Presidency shortens the lifespans of its holders, Calvin died of a heart attack, an event that can change with the passage of time. Even were he to die however, it is easy to imagine that his Vice President would be one more in tune with his views, given he would not have supported either Hoover or Dawes.
So basically we experience a Mini-Depression.
I completely disagree. A depression under Coolidge would have been far worse in the long run. What you are saying, is practically defending laissez-faire economics.
If the unemployment rate is 15% instead of 25 % people are still suffering. There are going to be runs on the banks. I suspect my grandparents could still lose their savings. As this TL doesn't change Franklin Roosevelt advantages, he is the Democrat that wins in 1932.
1923 - 1933 Calvin Cooldge
1933 - same as OTL
or
1923 - 1931 Calvin Cooldge
1931 - 1933 Charles Dawes
1933 - same as OTL
If the unemployment rate is 15% instead of 25 % people are still suffering. There are going to be runs on the banks. I suspect my grandparents could still lose their savings. As this TL doesn't change Franklin Roosevelt advantages, he is the Democrat that wins in 1932.
1923 - 1933 Calvin Cooldge
1933 - same as OTL
or
1923 - 1931 Calvin Cooldge
1931 - 1933 Charles Dawes
1933 - same as OTL
Not if Smith fails to get the nomination in 1928, he stays on as Governor and FDR is left out come 1932.
I fail to see how one can keep Smith from the Presidential nomination in 1928; it was basically his best chance for the nomination, even if the prospects in the general election were long. Actually, I am not sure who else was really in the running for the Presidency besides Smith, given most of the others who received votes at the convention were more favorite sons rather than actual candidates for the nomination.