Tue, Jul 29, 2014, 5:10 AM EDT - U.S. Markets open in 4 hrs 20 mins


% | $
Click the to save as a favorite.

Citigroup Inc. Message Board

  • demasibob demasibob Jul 9, 2011 10:59 AM Flag


    I was under the impression that Herbert Hoover caused the depression of '29 because he rained in Government spending at the wrong time.

    It is just the reverse. Hoover increased Government spending by almost 50% during his reign.

    Herbert Hoover-Government spending.

    If we are to deduce from that, then the Republicans are right in attempting to cut down on Government spending.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • ..and FDR led us out of it, by first spending on government spending on infrastructure with the new deal. Then putting the infrastructure to work when demand picked up during WWII. We are still in the building infrastructure stage of the recovery. Congress is impeding progress.

      • 1 Reply to Chiefs8723
      • The Hoover Dam was a good project. The proper way to try to stimulate the economy. It provides jobs immediately and a return on the investment by the sale of power far into the future.

        My guess would be a large part of what brought the US out of depression was the war, especially before the US got physically involved, through exports to the allies. Auto factories were converted to jeep, tank, etc production facilities. War ships were built on expedited schedules with minimal government bureaucracy to get in the way. (Something that would probably be impossible today. So we have to maintain a strong military always at the ready.)... More due to that the free market, patriotism and capitalism free of political correctness, special interests and America haters, than anything FDR did specifically.

49.70-0.05(-0.10%)Jul 28 4:01 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.