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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: bond_bubble who wrote (50544)	1/20/2006 9:50:58 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

Herbert Hoover's prior project was supplying food for the nations fighting Germany during WW-I first as Commissioner of Belgian Relief. Later, when America entered the war with the American Expeditionary Forces, President Woodrow Wilson appointed Hoover to the position of U.S. Food Administrator with the power to ration food. Herbert Hoover was very proud of the fact that America was able to avoid rationing through his propaganda campaign urging the public to "Hooverize" vital food supplies. Farm price stabilization programs of later decades grew out of Hoover's Grain Corporation, the Food Purchase Board, and the Sugar Equalization Board, all of which were designed to increase food production, not limit it or stabilize prices. Hoover Hoover NEVER believed in or practiced laissez-faire. He felt government should be an active booster of business and the "traffic cop" that kept the "not particularly free market" from developing congestion or getting into accidents. Government was uniquely positioned to direct business into supplying societal needs -- needs which business unassisted would be late in responding to, being as they are, so solely focused on their business. After WW-I Hoover was appointed Chairman of the American Relief Administration re-building Europe and fighting famine and plague. Hoover controlled shipping, directed railways and coal mines, and reopened ports and canals closed by war. The Hoover Dam, one of his projects as the new Secretary of Commerce, was one of a number of projects designed to provide the basis for additional growth in the American economy. "Fighting deflation" was the furthest thing from Hoover's mind. While agricultural prices declined after the end of WW-I, there was no hint of generalized deflation. The Hoover Dam was just another in a long list of projects where Hoover saw himself acting as the person charged with directing and coordinating that portion of the of business-government conglomerate under his management. I don't agree that the Hoover Dam was an attempt to manage prices, this and other projects were part of a grand plan to manage the entire economy, something Hoover thought was the normal role for government and business working in a partnership. .