HOOVER VS FDR

‘We are turning the corner’ was Herbert Hoover’s slogan during the 1932 election. During this election, Hoover had again promised to make it so that the
the economy would not sink lower than it already was. He had stated that the economies position 'could not get any worse’

VOTE

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What he would focus on the recovery.hen Franklin Delano Roosevelt was running against Hoover in 1932, he stated ‘I propose (to the American People) a New Deal’. His proposition of the new deal included a relief recovery and reform program. Meaning that he he had promised to leave unprosperous times and to recover the economy from the nadir it was at.

SINCE HOOVER: Update

Nation’s income rose about 20% (from $74.3 billion in 1923 to $89 billion in 1929)
In 1929 the top 0.1% of Americans had a combined income equal to the bottom 42%
The disposable income per capita rose 9% from 1920 to 1929, while the top 1% enjoyed a massive 75% increase in per capita disposable income.
Reliant on three things to keep the economy afloat: credit sales, luxury spending, and investment by the rich.
Massive success of the automobile industry, the radio industry also performed exceptionally well as “Radio stations, electronic stores, and electricity companies all needed the radio to survive, and relied upon the constant growth of the radio market to expand and grow themselves.
World War 1
Loans
Stock market crash