Obama might be the dumbest president we have ever had.

[theRepublic]

Jackson50 said:

theRepublic said:

Jackson50 said:^^No, not while I am on duty. The policies of Hoover and Roosevelt did not end the GD.

^Yes, a credit-driven boom caused by loose monetary policy.

 

1. The policies of Hoover made the Great Depression worse.

2. You make the cause sound so simple, and yet, economists do not agree on all the causes.

Yes, the policies of Hoover and FDR prolonged the GD

The cause was simple. There were other minor contributing factors (inane policy of the SEC), but the loose monetary policy was the main cause of the crisis.

 

I'm not sure I agree with FDR, but Hoover definitely made things worse.

I think you mean loose lending policies.  Monetary policy was not loose.  If it was loose, the money supply would not have contracted during the Great Depression.