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Hoover Economic Failure

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After President Hoover stated the “final triumph over victory” the economy collapsed only a few months later. A few months of the stocks being doubled, traders sold all their stocks, causing six million stocks to change. This caused the stock market to take a bad hit. Six days later the market completely fell apart. Traders were stuck with meaningless pieces of paper and no money. With no money people build tent houses calling them “Hoovervilles” because they believed President Hoover was the cause of the economies failure and no improving of it. Hoover’s advisors considered the Depression a temporary setback, and suggested to do nothing at all. However, Hoover did not agree with them, and after his success in mining and foreign aid administration,
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