First of all, they both are businessmen. IF you study businesses around the world a businessman is someone who conducts business usually without going to jail. Successful businessmen hire lawyers all over the world to accomplish this feat.
So, what other things do Herbert Hoover and Trump have in common?
They think government should be run like a business.
But, it cannot run like a business because it is NOT a business it's a government and a bureaucracy.
So, for example, Trump decided to reduce unemployment which is a really great idea for his base.
However, because it's a government and an economy that affects the whole world he didn't realize this would speed up the next recession, Great Recession or even a depression.
Because when you reduce unemployment far enough like he did you create inflation because you have to pay more per hour for each employee hired. This causes inflation when enough employees get paid more per hour or more by salary. When inflation happens from reducing unemployment beyond a certain point the Fed has to step in to raise Interest rates because if they don't everyone on a fixed income gets completely wiped out by inflation.
So now, Trump is horrified by the Fed raising interest rates because when that happens businesses have a harder time getting loans to expand. But, this also keeps people on a fixed income from going bankrupt from inflation.
So now, Trump wants to fire Powell that he just placed in the FED. But, if he does this he is obviously just going to create incredible instability, runs on banks, and create likely another GReat Recession or Great Depression.
So, what do Herbert Hoover and Trump have in common?
They both are or were business men that thought they knew how to run a government. However, they really have no business being a president simply because a business is not the Government of the U.S. and never will be.
So, What did Herbert Hoover do?
He created the Great Depression.
What is Trump now doing?
Possibly the same.
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