What's wrong with our economy?

[Joe Steel]

Instead, we should close the borders. Americans should make the things Americans use.

this is how the Great Depression started!! ...

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

 

[EdwardBaiamonte]

Instead, we should close the borders. Americans should make the things Americans use.

this is how the Great Depression started!! ...

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

According to Ben Bernanke, "Economists still agree that Smoot-Hawley and the ensuing tariff wars were highly counterproductive and contributed to the depth and length of the global Depression."

Also, if exports are so tiny then why bother banning them as you want to? You defeated yourself!!

 

[ShackledNation]

Instead, we should close the borders. Americans should make the things Americans use.

this is how the Great Depression started!! ...

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.

 

[initforme]

Less money being made by workers... declining wages in jobs people have been at for many years means less money in the economy. To be specific there is less spending going on.

 

[EdwardBaiamonte]

American exports fell from $5.5 billion in 1929 to $1.7 billion in 1932..

Joe did not realize that banning imports means you lose all the jobs in your export sector!!

 

[EdwardBaiamonte]

Less money being made by workers... declining wages in jobs people have been at for many years means less money in the economy. To be specific there is less spending going on.

yes this is true so why not end the corporate tax and make liberal unions illegal to bring back 30 million off shored jobs and create huge pressure for higher wages!!

 

[initforme]

A job that pays less than $15 per hour isn't really a "job" but more of extra spending money. That's why one goes to college. Can't live on $15 an hour unless you live at home.

 

[EdwardBaiamonte]

A job that pays less than $15 per hour isn't really a "job" but more of extra spending money. That's why one goes to college. Can't live on $15 an hour unless you live at home.

yes this is true so why not end the corporate tax and make liberal unions illegal to bring back 30 million off shored jobs and create huge pressure for higher wages!!

then why not ship 20 million illegals home to create 20 million jobs for Americans plus even more upward pressure on wages

 

[Joe Steel]

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

According to Ben Bernanke, "Economists still agree that Smoot-Hawley and the ensuing tariff wars were highly counterproductive and contributed to the depth and length of the global Depression."

"Contribute" is not "cause." Smoot-Hawley contributed to but didn't cause the Great Depression.

Also, if exports are so tiny then why bother banning them as you want to? You defeated yourself!!

Ban imports of things Americans can make for themselves not exports.

 

[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.

 

[EdwardBaiamonte]

Ban imports of things Americans can make for themselves not exports.

Dear, if we ban imports they ban exports. Ever heard of Smoot-Hawley?

 

[EdwardBaiamonte]

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

dear, if it contributed to the Great Depression we don't want to do it again!! How is it possible that is over your head? Do you see why we say, slow?

 

[EdwardBaiamonte]

Dear,

Holy art thou holy water amen the blessed dears who be huntin' us some deer so help me lord. Dear amen.

typical liberal without IQ for substance.























Dear

 

[EdwardBaiamonte]

Typical condescension from a head in his ass narcissist. "Dear."

argumentum adhominem from typical liberal without IQ for substance

 

[EdwardBaiamonte]

Ban imports of things Americans can make for themselves not exports.

dear, we just went through that with Russia. We suspended free trade and they immediately retaliated!! What planet have you been on?

 

[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.