Two of the major warning signs of impended economic depression that appeared during the Hoover administration were "too much credit spending" and an "rampant government spending " since many people were using loans for stock speculation.many farm bankruptcies.
Explanation:
People were getting on many mortgages and weren't using them to produce and improve their earnings but rather they used it to trade with stocks and the system eventually failed.
Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American engineer, businessman, and politician who worked as the 31st President of the United States from 1929 to 1933 during the Great Depression.
Wall Street Crash of October 1929: The beast market of the 1920s collapsed clearly in October, affecting off at a great potential drop that washed out billions of bills in paper values.
Hawley- Smoot Tariff June 1930: Hoover disregarded the protests of more than 1,000 professors and approved the highest emergency tariff measure in U.S. history. The Bank Crisis February 1933: Regularly deteriorating public confidence in the nation's banks threatened crisis proportions shortly before Hoover left office. States endeavored to slow runs on the by holding "holidays" to provide breathing.
