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The Hoover Depression was the worst economic downturn in American history. It began in 1929, with the Stock Market Crash and worsened as a result of Herbert Hoover's disastrous polices of excessive government intervention. After the election of Franklin D. Roosevelt in 1932, Hoover's policies were reversed and the Depression ended by 1934. However, Europe went through a far more severe Great Depression during this time period, which saw the rise of fascist regimes in most of Europe.