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The Trade and Tax Doomsday Clocks

Discussion in 'Economics and Financials' started by texasPHINSfan, Oct 15, 2010.

  1. texasPHINSfan

    texasPHINSfan New Member

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    Not to startle too many people, but this is both scary and makes a good point
    [​IMG]
    http://online.wsj.com/article/SB10001424052748704116004575521822940983434.html
     
  2. padre31

    padre31 Premium Member Luxury Box

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    sorry dude, Smoot Hawley as a boogeyman is a half truth.

    At the time, the US was an exporter of goods, at the time Smoot Hawley affected less than 1% of the economy.

    On the other hand, when Reagan slapped quotas on imports in the 80's those industries, Steel, Motorcycles, even Autos, prospered.
     
  3. Muck

    Muck Throwback Uniform Crusader Retired Administrator

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    This is what I remember about Smoot Hawley. I know you do too.

    [ame="http://www.youtube.com/watch?v=dxPVyieptwA"]YouTube - Boring Economics Teacher[/ame]
     
  4. texasPHINSfan

    texasPHINSfan New Member

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    meh, that's the worst point in the article to me :lol:

    rest of it is all valid
     

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