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It's rather ironic that this quote is coming from someone who advocated doing as little as possible as president, refused to run for a second term because he fe

• miked 17y ago
  and very arguably contributed to the Great Depression that happened the year after his term ended. The Great Depression was triggered by the US Fed (created in 1913), which massively increased the money supply, and the passage of the disastrous Smoot-Hawley trade protection bill in 1929. Note that the money supply increase gave birth to the Roaring 20's, not unlike what we've had for the last seven years (up till early 2008). Note that the current US administration is also increasing trade protection as well (Chinese tires, etc.)
  • skinnymuch 17y ago
    He said contributed to it, not caused it or was a major reason for it.
  • codexon 17y ago
    And by your own admission, it was through his own inaction that he let the Fed run amok. Also during his term, trade tariffs went up.
• Maktab 17y ago
  How so? His political decisions and policy were based on his conviction that the federal government should have as little role as possible and that social, financial, corporate and labour regulations should be implemented at the state level. We may argue about the wisdom of this view and the role it may or may not have had in creating the Great Depression, but I don't see how it conflicts with his personal views on talent and perseverance.