Herbert Hoover

Last week I excerpted from Herbert Hoover’s 1930 State of the Union address. This time I wanted to excerpt from the 1931 SOTU because the Credit Anstalt event had already happened, triggering retail deposit runs. Bank runs is something…

Hoover: "In the larger view the major forces of the depression now lie outside of the United States, and our recuperation has been retarded by the unwarranted degree of fear and apprehension created by these outside forces."

This is excerpted from the American Presidency Project at UCSB. Hoover writes the following letter to George L. Harrison, Federal Reserve Board of New York, on financial and economic problems on 5 Oct 1931

An excerpt from the August 1932 Republican Nomination Acceptance Speech by Herbert Hoover and commentary about his policy choices and ours today

Little did Hoover know that it was jut the opposite – poverty would skyrocket as the Great Depression hit America with full force.

This is a brief follow-up to my post yesterday proclaiming that this is looking more like Hoover every day. Credit Writedowns reader Greg came across the statement below. Who said it, Herbert Hoover or Barack Obama?

Forget about ‘pivoting’ to jobs when right now the President is going to be forced to focus on deficits. The House Majority Leader Eric Cantor has already said he will broker no stimulus and the deficit panel will be in full swing before…

During the Great Depression, immigrants were often seen as a problem more than a solution because of high unemployment. Between 1929 and 1939, an estimated 500,000 Mexicans voluntarily or involuntarily emigrated from the US back to Mexico.…

Every instinct the President has honed, every voice he hears in Washington, every inclination of our political culture urges incrementalism, urges deliberation, and an abundance of caution, particularly in regard to our “unsustainable…

The Democratic defeat in yesterday’s Massachusetts Senate race puts a punctuation mark on the grinding erosion of support for the Obama Administration and its economic policy in a tough first year. Clearly voters were sending the…