[Will88]

Since Barone brought up the old Smoot-Hawley trope and the Great Depression, here is an article I've linked often in the past that provides the best explanation of the GD I've seen.

The main point of the article, the Fed decreased the money supply around 20% during the first three years following the stock market collapse of 1929. Well worth reading for general knowledge of the GD.

The Fed's "Depression" and the Birth of the New Deal

[fortheDeclaration]

The Fed had been expanding the money supply during the 20's.

The 'bust' had to come, but the problem was the solution, instead of letting the Market correct itself, Hoover and then FDR got the government involved.