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To: DannyTN

People (i.e. FDR) used the same arguments you are giving now in the 1930’s and that is why in America the depression is called the Great Depression instead of simply the depression.

Google “Blue eagle” and research protectionism and the economy of the 1930s. I think that the policies you endorse would hurt Americans and raise unemployment. I firmly believe that it is useful to learn from history.


11 posted on 11/13/2012 2:29:03 PM PST by impimp
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To: impimp
"People (i.e. FDR) used the same arguments you are giving now in the 1930’s and that is why in America the depression is called the Great Depression instead of simply the depression."

FDR didn't take office until 1933, the Great Depression began in 1929. What's more the Smoot Hawley tariff didn't go into effect until Jun - 1930 long after the Great Depression was well under way.

Going into the Great Depression, imports were 4% of GNP, and exports were 5% of GNP. There is no way international trade caused the Great depression, a drop in GNP of 40%. The trade numbers are simply not big enough. (There was an international banking scare that did affect the U.S. market and helped generate the Great Depression, but that's an entirely different issue than Tariffs and trade.)

Now imports are 16% of GNP. And unemployment is 25%.

16 posted on 11/13/2012 2:47:55 PM PST by DannyTN
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To: impimp

Amazing I’ve never heard of anyone wanting to sanction America for manipulating their currency; we do the same thing by debasing our currency (QE 1,2...).


33 posted on 11/13/2012 3:46:52 PM PST by Idaho_Cowboy (Ride for the Brand. Joshua 24:15)
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