What's wrong with our economy?

[EdwardBaiamonte]

Nonsense. Foreign trade was only about 7% of GDP. Smoot-Hawley had very little to do with the Great Depression.

So what if it were 7%? The housing market was a small percent of GDP, but it's collapse had ripple effects throughout the entire economy.

American exports fell from $5.5 billion in 1929 to $1.7 billion in 1932. American agriculture customarily had exported over 20 percent of its wheat, 55 percent of its cotton, 40 percent of its tobacco and lard, and many other products. When international trade and commerce were disrupted, American farming collapsed.

The Smoot-Hawley Tariff was a disaster.

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

but steels point is that if we ban trade and make everything ourself we'll be better off without the international competition!

 

[Joe Steel]

Nonsense. Foreign trade was only about 7% of GDP. Smoot-Hawley had very little to do with the Great Depression.

So what if it were 7%? The housing market was a small percent of GDP, but it's collapse had ripple effects throughout the entire economy.

American exports fell from $5.5 billion in 1929 to $1.7 billion in 1932. American agriculture customarily had exported over 20 percent of its wheat, 55 percent of its cotton, 40 percent of its tobacco and lard, and many other products. When international trade and commerce were disrupted, American farming collapsed.

The Smoot-Hawley Tariff was a disaster.

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

Agriculture's greatest contribution to the Great Depression came from mechanization. Mechanization during the 1920s destroyed a great number of agricultural jobs and drove the newly unemployed into the cities to look for work. That drove down wages and the purchasing power of workers and collapsed the consumer segment of GDP. It wasn't Smoot-Hawley.

 

[Joe Steel]

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

but steels point is that if we ban trade and make everything ourself we'll be better off without the international competition!

No. My point is, American jobs are more important than economic efficiency. Firms may be more profitable operating internationally but public policy should be concerned with profits only after worker economic security is assured.

 

[Mr Natural]

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

but steels point is that if we ban trade and make everything ourself we'll be better off without the international competition!

No. My point is, American jobs are more important than economic efficiency. Firms may be more profitable operating internationally but public policy should be concerned with profits only after worker economic security is assured.

Companies don't give a shit about the worker. In fact, they view the worker as a burden.

 

[Dot Com]

Our pols look out for the interests who bought their seats for them

 

[ShackledNation]

Nonsense. Foreign trade was only about 7% of GDP. Smoot-Hawley had very little to do with the Great Depression.

So what if it were 7%? The housing market was a small percent of GDP, but it's collapse had ripple effects throughout the entire economy.

American exports fell from $5.5 billion in 1929 to $1.7 billion in 1932. American agriculture customarily had exported over 20 percent of its wheat, 55 percent of its cotton, 40 percent of its tobacco and lard, and many other products. When international trade and commerce were disrupted, American farming collapsed.

The Smoot-Hawley Tariff was a disaster.

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

Agriculture's greatest contribution to the Great Depression came from mechanization. Mechanization during the 1920s destroyed a great number of agricultural jobs and drove the newly unemployed into the cities to look for work. That drove down wages and the purchasing power of workers and collapsed the consumer segment of GDP. It wasn't Smoot-Hawley.

No, agriculture's greatest contribution to the Great Depression were rigid price controls and a tariff shutting off agriculture to the global market. Mechanization had nothing to do with the great depression whatsoever.

 

[EdwardBaiamonte]

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

but steels point is that if we ban trade and make everything ourself we'll be better off without the international competition!

No. My point is, American jobs are more important than economic efficiency. Firms may be more profitable operating internationally but public policy should be concerned with profits only after worker economic security is assured.

dear, workers in competition free East Germany Hungary and USSR did not have to worry about free trade!! Do you know what happened my child?


The USSR, and East Germany, for example, did not produce one single consumer innovation during its existence! Do you know why?


In 1980 you paid 10 years salary in Hungary for a car without a gas gage (dip stick instead) that had to be backed up a hill because of a gravity fed carburetor. They employed engineers by the 1000's all of whom swore that was the best they could do.

It is not until you have had years and years of free Republican capitalist international competition that you have any idea how many engineers are needed, at what salary, to produce what quality.

Can you understand the analogy? Can you ask Mom to explain?

 

[Joe Steel]

No. My point is, American jobs are more important than economic efficiency. Firms may be more profitable operating internationally but public policy should be concerned with profits only after worker economic security is assured.

Companies don't give a shit about the worker. In fact, they view the worker as a burden.

That's why we need laws to ensure worker economic security.

 

[Joe Steel]

Agriculture's greatest contribution to the Great Depression came from mechanization. Mechanization during the 1920s destroyed a great number of agricultural jobs and drove the newly unemployed into the cities to look for work. That drove down wages and the purchasing power of workers and collapsed the consumer segment of GDP. It wasn't Smoot-Hawley.

No, agriculture's greatest contribution to the Great Depression were rigid price controls and a tariff shutting off agriculture to the global market. Mechanization had nothing to do with the great depression whatsoever.

You're wrong.

 

[EdwardBaiamonte]

Maybe it was and maybe it wasn't but it didn't cause the Great Depression.

On it's own, no of course not. But that was never my claim.

but steels point is that if we ban trade and make everything ourself we'll be better off without the international competition!

No. My point is, American jobs are more important than economic efficiency. Firms may be more profitable operating internationally but public policy should be concerned with profits only after worker economic security is assured.

Companies don't give a shit about the worker. In fact, they view the worker as a burden.

100% idiotic and liberal. It's like saying corporations don't give a shit about their products. In fact under capitalism they have to provide the best products in the entire world and the best possible jobs in the entire world just to survive.

Thats why the more capitalism the more wealth for everyone. Did the liberal think the Girl Scouts made America richest?

See why we have to be 100% positive that liberalism is based in pure ignorance.

 

[EdwardBaiamonte]

Agriculture's greatest contribution to the Great Depression came from mechanization. Mechanization during the 1920s destroyed a great number of agricultural jobs and drove the newly unemployed into the cities to look for work. That drove down wages and the purchasing power of workers and collapsed the consumer segment of GDP. It wasn't Smoot-Hawley.

No, agriculture's greatest contribution to the Great Depression were rigid price controls and a tariff shutting off agriculture to the global market. Mechanization had nothing to do with the great depression whatsoever.

You're wrong.

Joe lacks the intelligence to say why its wrong or even to know its necessary to say why its wrong. He a typical liberal: brainless and not ashamed at all.