Sure, that works. Add in an even worse Dust Bowl in there for good measure. I'd argue the conditions were already there in OTL, all that is needed is a spark to set the revolution ablaze. Maybe the Bonus Army incident escalates? Or Hoover is (somehow) reelected in 1932? Heck, in the occasion of a successful Business Plot (assuming it existed ITFP), could we maybe see a socialist counter-coup? Lots of possibilities to play around with.