Lord_Thrawn said:
people worried a subway tunnel was a Catholic plot to connect NYC with the Vatican
You've just proven the stupidity of the American voting public has no upper limit.

You're also right, Smith opposed Prohibition.
Turquoise Blue said:
I'm going to stop there. Hoover wasn't responsible for it. Coolidge was.
JRScott said:
Hoover was largely responsible for the crash of 29 which started the Depression
I suggest you're both wrong.
JRScott said:
FDR made it the Great Depression in the USA while most other countries got out quickly.
This is, apparently, a fairly common view. It holds FDR didn't let prices & wages "find their natural level". IDK enough economics to say, but seeing he attempted to keep wages high, there is support for it. That high wages subsidizes buying power, & so consumption (which could absorb insanely high production, which was being done on the
prima facie lunatic theory "production creates demand",



which was in place before the Crash), IMO it was a good thing. Others clearly disagree.
JRScott said:
He immediately began overregulation policies which directly led to the collapse of the stock market.
Nonsense. The market crashed when the Fed raised the rediscount rate, which was absurdly low until then. It effectively smacked the speculators with a dose of reality, which it should have done in, oh, 1926.

(Seriously, when shares in companies you never heard of are trading at 400,

& the P/E ratios are above 30,

the market has gone nuts.

)
JRScott said:
It's kinda like Barack Obama claiming everything is George Bush's fault despite that when Obama was a Senator who voted for the spending, debt and war funding.
Preposterous. What else was in the bills Obama voted for? Which party enacted the policies deregulating the banks & eliminating enforcement of the regulations? It wasn't Democrats.
Turquoise Blue said:
the Roaring Twenties was one ginormous bubble.
Exactly. What caused the Crash was the Federal Reserve making money so cheap it made more sense to put it in the market than loan it. It was the Fed not raising rates well before September 1928, as it became clear speculation was going to crazy lengths. It was not the direct product of policy or action by any President, nor by what any President did
not do.