Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself.

America was at the height of an economic bubble at the time facilitating a landslide victory for Hoover over Democrat Al Smith. Roosevelt's New Deal. Hoover a globally experienced engineer believed strongly in the Efficiency Movement which held that the government and the economy were riddled with inefficiency and waste and could be improved by experts who could identify the problems and solve them.