Franklin Delano Obama

Eighty years ago, Franklin Roosevelt rode into office at the height of the Depression. In many ways the election of 1932 has much in common with the current American presidential campaign. The economic record from 1929 to 1933 was grim. Unemployment spiked to close to 25 percent from a pre-1929 figure of about 4 percent. World trade was down by a third, partly in response to the ill-advised Smoot-Hawley tariffs of 1930, which sparked retaliation from around the globe. And persistent deflation...

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