Posted on 07/13/2020 4:49:27 AM PDT by Kaslin
by Bob Powell, 2/15/09
Smoot-Hawley tariff "protectionism" is continually being blamed for the Great Depression: "OMG, that would start a trade war and hurt our exports. After all, doncha know that caused the Great Depression?!!!" Trouble is, our enormous trade deficit shows we've been in, and lost, that war. Creating balanced trade and Buy American are perfectly consistent with fundamental economic development principles and are not simply "protectionism." "Free trade" proponents commit economic treason by perpetrating pro-"free trade" propaganda. Not to put too fine a point on it, they're lying. Here's why it's obvious. And it wasn't FDR's New Deal that prolonged it either.
1. Total Trade was minuscule relative to GDP. A "Total Trade" was about 1/100th of GDP and therefore a "Total Trade" downturn is about as likely to have tripped up the U.S. economy and caused a Great Depression as a human being would be likely to be tripped by an ant.
How politically astute of you....
You are not standing up you are merely whining with fake posts
LOVE Thomas Sowell!
The bank failures started in the rural areas of the country and from there spread to the cities.
Just to be sure, IF (big if) the Fed had intervened to maintain the money supply, then the first thing (collapse of export demand for U.S. farm product) would not have cascaded into the second thing (collapse of the banking system and the entire economy).
Then, there was FDR’s socialist policies that continued the depressed economy in terms of work, until 1941; and, in terms of consumer product, until 1946.
So, to give some credence to what you said, amidst your vulgarity and name-calling, no, the collapse of export demand for U.S. farm product could not explain the depth or duration of the Great Depression. It took a complete outbreak of economic stupidity.
You are free trade (IMO a religion) zealot. You will never accept the truth. Free Traitor™ is the correct moniker for you people that continue to support this travesty after 30 years of economic destruction..
Obviously according to you someone can not change his mind. While Dr Sowell was originally against Donald Trump but voted for him in the November 2016 general election.
Your differentiation reminds me of an old joke:
Once I saw this guy on a bridge about to jump. I said, “Don’t do it!” He said, “Nobody loves me.” I said, “God loves you. Do you believe in God?”
He said, “Yes.” I said, “Are you a Christian or a Jew?” He said, “A Christian.” I said, “Me, too! Protestant or Catholic?” He said, “Protestant.” I said, “Me, too! What franchise?” He said, “Baptist.” I said, “Me, too! Northern Baptist or Southern Baptist?” He said, “Northern Baptist.” I said, “Me, too! Northern Conservative Baptist or Northern Liberal Baptist?”
He said, “Northern Conservative Baptist.” I said, “Me, too! Northern Conservative Baptist Great Lakes Region, or Northern Conservative Baptist Eastern Region?” He said, “Northern Conservative Baptist Great Lakes Region.” I said, “Me, too!”
Northern Conservative†Baptist Great Lakes Region Council of 1879, or Northern Conservative Baptist Great Lakes Region Council of 1912?” He said, “Northern Conservative Baptist Great Lakes Region Council of 1912.” I said, “Die, heretic!” And I pushed him over.
>>>>>>>>
I have read hundreds of columns and dozen of books by Sowell. I don’t agree with him on everything — just 98% of things. He is a truly wonderful thinker.
Are you thinking of Dinesh D'Souza's book?
Amazing brain and never talks down to people like so many intellectuals.
Amazing brain and never talks down to people like so many intellectuals.
I registered Republican in November 1979. In March of 1980 was our Tennessee Primary. Ronald Regan was one of the candidates. I dismissed him as just an actor and voted for John Anderson in our Primary because I liked his message.
But when it was time to decide who to vote for in the general election in November 1980 there was only one choice, which was Ronald Reagan. I voted for him again in 1984 when he ran for reelection.
I did the same for George W. Bush in 2000 and 2004. President Trump will be the 3rd president I will vote for again!!!!!!!!!!!!!!
The fact that the media hasn’t embraced him proves the media is racist.
Absolutely.
I would love to be the Captain of a debate team.
Other team can have Carville as its captain and then 5 others. Any 5.
My first three picks are Thomas Sowell, Victor D Hanson, Larry Elder. Not sure that I would need anymore than those 3, but there’s a very deep talent pool after them, IMHO.
Unfortunately the people with POWER in this country have effectively spiked his voice. He should have a MUCH LARGER following, based on his intelligence and reasoning.
That may be so, but I’d rather he try than have him running around like Wallace, Cavuto, Rollins, Erickson, and the entire Anti-Trump Bloc of Republican Senators.
If we had listened to the likes of Thomas Sowell decades ago, corporations and industry wouldn’t be in the situation of having to make a choice about shipping our manufacturing overseas.
It is our abuse of our tax base and spending more than we take in that has put us in the position of making foreign manufacturing a financially attractive option.
I would add Walter Williams. The man can explain economics to a Kindergarten class brilliantly.
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