Posted on 02/24/2008 6:44:46 PM PST by jdm
Representative W.C. Hawley, and Senator Reed Smoot shake hands in agreement on new tariff billThe Hawley-Smoot Tariff (or Smoot-Hawley Tariff Act)[1] was signed into law on June 17, 1930, and raised U.S. tariffs on over 20,000 imported goods to record levels, and, in the opinion of most economists, worsened the Great Depression. Economists have now generally regarded this Tariff Act (i.e., tax increase on imported goods) as the greatest policy blunder in American economic history, coming as it did after the 1929-30 recession and preventing the economy from a full, natural recovery which had already started by the Spring, 1930. Many countries retaliated with their own increased tariffs on U.S. goods, and American exports and imports plunged by more than half.
Actually, Americans have complete access to no foreign markets...while our markets are wide open. I think trade policy and the hit our economy has taken because of this policy will be a campaign issue this years and in the coming elections.
LOL!....who'd want it? 8^D
No, he did not. Going for the jugular in their Texas primary would mean mentioning Hillary's role in burning down the Branch Davidian church outside of Waco back in 1993.
That's why Vince Foster's life ended shortly thereafter, but you don't even have to bring up the late Vince...just the fact that it was Hillary who gave the "Go" command to take down the church compound.
I posted the Smoot-Hawley info because bert referred to it in his post. Just for reference.
Concocted by your wonderful pubbies & forced lightly upon Bubba, who is a closet One World Order guy like all of the Bushes & Klintoons. Like the sheeple you all are, you bought it hook, line & sinker. Smell the coffee. They are all the same - ready to sell us out to the elites.
In theory, NAFTA may have been able to increase economic development in Mexico and alleviate our immigration mess.
It was Clinton that gutted NAFTA by opening the flood gates to China. The end result being China undercut not only American manufacturing but that of Mexico as well. Out of work Mexicans with families to feed then look North.
Yah, NAFTA took all our good American jobs, sent them to Mexico. Our unemployment rate is sky high, Mexicans are all staying home and earning the big bucks, and illegal immigration has been reversed.
Of course, we still pay high subsidies to companies who are adversly affected by NAFTA, and, have bailed out Mexico when their economy went bad
NAFTA is nothing more than wealth redistribution gone awry
Hillary Rodham Clinton views herself as if she was “co-president” from 1993 on.
Smoot-Hawley Tariff Act From Wikipedia, the free encyclopedia Jump to: navigation, search
Representative W.C. Hawley, and Senator Reed Smoot shake hands in agreement on new tariff billThe Hawley-Smoot Tariff (or Smoot-Hawley Tariff Act)[1] was signed into law on June 17, 1930, and raised U.S. tariffs on over 20,000 imported goods to record levels, and, in the opinion of most economists, worsened the Great Depression. Economists have now generally regarded this Tariff Act (i.e., tax increase on imported goods) as the greatest policy blunder in American economic history, coming as it did after the 1929-30 recession and preventing the economy from a full, natural recovery which had already started by the Spring, 1930. Many countries retaliated with their own increased tariffs on U.S. goods, and American exports and imports plunged by more than half.
The Great Depression was well underway when this bill was passed. Also, we did so little trade w Euros and foreign countries at the time because their economies were in worse shape than the US. If there were no tarriffs at the time...we still would have had the Great Depression....and would have continued
There were many reasons for the Great Depression (bad land speculation, agricultural over-production, WW I reparations, etc)...but Smoot-Hawley was not one of them.
Concocted by your wonderful pubbies & forced lightly upon Bubba, who is a closet One World Order guy like all of the Bushes & Klintoons. Like the sheeple you all are, you bought it hook, line & sinker. Smell the coffee. They are all the same - ready to sell us out to the elites.
Finally, an honest post about NAFTA...and all the ones behind it. It was a bad deal pushed by the elites from both parties
Yeah, me too. I was merely pointing out that there is no real free trade. American markets are wide open...buy no other country allows such access.
Nafta is not a disaster. It is a resounding success as far as Canada is concerned. Mexico has a way to go, but that was always known to be.
Isolationists are a serious American problem today the same as in the early 20th century. They haven’t learned a damn thing in nearly a hundred years
You get called names when you point out the failure of globalist free trade....because its hard to defend failure
Great post there T. Buzzard Trueblood
Hey Obama, just DEMAND that she RELEASE their TAX RECORDS!!
Even if your assertion were true - and it is not - US consumers would be better off.
Ignorance and xenophobia are no substitute for Econ. 101.
No, don't ride him...kick him in the A$$ next November!
I', thinking that because obama was a virtual unknown during the clintoon years, they missed his FBI file in the Great Dump Dump...
What I said is true...I have no idea why you believe consumers are better off. It makes no sense. I think free trade is almost a religion. When you look at how it has been done; it’s not good for America.
We lose jobs and in return we get junk from China. I also think there is an argument to be made that there is a national security issue as well. Great countries can produce their own products and if need be planes and weapons for war.
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