Heydon You would be surprised at what dour-faced Herbert Hoover actually did to address the Depression. While he was against massive public employment programs, he initiated some structural programs that FDR, after his 100-day blitz, greatly expanded. The RFC, I recall, provided, for then, a massive amount (without checking my notes—$500…
Heydon You would be surprised at what dour-faced Herbert Hoover actually did to address the Depression. While he was against massive public employment programs, he initiated some structural programs that FDR, after his 100-day blitz, greatly expanded. The RFC, I recall, provided, for then, a massive amount (without checking my notes—$500 million when the entire federal budget was minimal) for the RFC. Indeed, some economists credit Hoover. With employing more sound economics than FDR is addressing the Depression.
Of course Hoover was zero in charisma and FDR was 100. After the Roosevelt recession in 1937, it took WW II to get us out of massive unemployment.
Well said, Keith. He seemed to always have that look.
My overall impression of the RFC Act of 1932 is that it was too little, too late. When FDR entered the WH in March 1933, the banking system was near total collapse, and unemployment had reached 25%.
I think about the term used to describe any collection of shanties in the U.S.--"Hooverville". That's a classic.
Heydon You would be surprised at what dour-faced Herbert Hoover actually did to address the Depression. While he was against massive public employment programs, he initiated some structural programs that FDR, after his 100-day blitz, greatly expanded. The RFC, I recall, provided, for then, a massive amount (without checking my notes—$500 million when the entire federal budget was minimal) for the RFC. Indeed, some economists credit Hoover. With employing more sound economics than FDR is addressing the Depression.
Of course Hoover was zero in charisma and FDR was 100. After the Roosevelt recession in 1937, it took WW II to get us out of massive unemployment.
"dour-faced Herbert Hoover"
Well said, Keith. He seemed to always have that look.
My overall impression of the RFC Act of 1932 is that it was too little, too late. When FDR entered the WH in March 1933, the banking system was near total collapse, and unemployment had reached 25%.
I think about the term used to describe any collection of shanties in the U.S.--"Hooverville". That's a classic.