The Economic Stimulus Package – Circa 1929

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This crossed my email a little while ago. Its the Time Magazine report on the Economic Stimulus Package that President Herbert Hoover announced to try and prevent the Depression after the Stock Market crash of 1929.  Resonates a fair bit with what we’re reading today.

The Author

Hi. My name is Matt Roberts, you can find me at www.mattroberts.com.

1 Comment

  1. Ian Graham says

    Matt, if the US thinks it can spend its way out of a recession and the potential consequences they should just look up north. I think it was in the early 70’s when the Trudeau government introduced deficit spending as a way of getting Canada out of an economic downturn. The theory was that the economic spin offs would be so great that we could spend our way of hard times and grow the economy sufficiently to repay the debt in no time.It is 2008 (more than 30 years later)and Canada is still paying our way out of the 70’s downturn.

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