Posted on 12/03/2018 4:42:32 AM PST by EyesOfTX
Only if you like depressions. Most honest economists will agree that the Smoot Hawley tariff act of 1930 was the major cause of turning a bad recession into the Great Depression.
Try to survive w/o eating. Obviously the Chinese can’t.
Food is more powerful that any bomb made and food security is worth it.
Only 4.3% of the economy was internationally traded at the time and Smoot-Hawley only affected about 1/3 of that (agricultural imports mostly) so you are arguing that a slight rise in tariffs affecting 1% of the rural economy was a major factor? Ridiculous.
Smoot-Hawley had, if anything, a slight stimulative effect on American farming and no major impact on anything else. International trade dropped because overall demand dropped following the crash.
The globalists themselves know they are lying when they trot that one out.
Always love the DB updates. Thanks
It is hard to get an honest account of what happened. Florida real estate collapsing and the down turn in the industrial index were the first clues. Some suggest the Fed took measures to save our so called ally Britain’s outflow of gold which served to allow them to struggle with a mere recession while the US went into severe depression.
It should have been over in 5 years, but Hoovers counterproductive policies and then FDRs managed to turn a recession into a full out depression. It was like giving one’s paychecks to their 5 year and trusting them to pay the bills and balance the family budget. God forbid if the Democrats ever get control of Congress and the WH again.
Dream on.
Dicks like you can’t handle facts. Were you born yesterday?
Where did you find this quote? I'd like to cite to it.
Thanks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.