Why did The US go into depression when Hoover was president?

Question: Why did The US go into depression when Hoover was president!?
Best Answer - Chosen by Asker:

I heard it was because the wealth was so unevenly distributed that the only way big corporations could make it was to borrow money from each other
soon credit frozen and broke the dollar
hence the depression
(sound familiar kinda like whats going on!?)

I don't think president hoover had anything to do with it Www@QuestionHome@Com

The Great Depression was caused by a variety of factors, each contributing to uncertain economic strength!.
#1!. People invested in uncertain, worthless stock!.
#2!. A drought caused severe crop loss on the prairies
#3!. Overspending on luxury items to forget the pain of the First World War
#4!. An overinflated economy built on shoddy business practices
In October of 1929, the stock market finally crashed, leaving thousands of americans instantly penniless!. This soon spread throughout the united states, and a ripple effect was felt around the globe!. In short, Hoover didn't cause the depression; it was a built up by lots of factors before his term even began!.Www@QuestionHome@Com

the real depression started after F!.D!.R tried to "save" us from a recession by raising prices on food, textiles, and housing!.Www@QuestionHome@Com

Hoover had little to do with it!. It was mostly just a quensidance!.Www@QuestionHome@Com