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Kudlow: Why Trump's protectionist ways will hurt the economy
CNBC ^ | Aug 26 2015 | Kudlow and Moore

Posted on 08/26/2015 5:47:02 PM PDT by WilliamIII

Here's a historical fact that Donald Trump, and many voters attracted to him, may not know: The last American president who was a trade protectionist was Republican Herbert Hoover.

Does Trump aspire to be a 21st century Hoover with a modernized platform of the 1930 Smoot-Hawley tariff that helped send the U.S. and world economy into a decade-long depression and a collapse of the banking system?

(Excerpt) Read more at cnbc.com ...


TOPICS: Politics/Elections; US: New York
KEYWORDS: 2016election; demagogicparty; election2016; fairtrade; freetrade; hawleysmoot; larrykudlow; lawrencekudlow; memebuilding; miltonfriendman; newyork; ntsa; partisanmediashill; partisanmediashills; paulstreitz; smoothawley; tariff; trump
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To: nickcarraway

Wasn’t Hoover a progressive and a Republican? Mark Levin slams all progressives regardless of their party. Hoover raised taxes and tarrifs. FDR doubled down on Hoover’s failed policies. Difference was Hoover was unpopular and FDR was a good bullsh*#er.


41 posted on 08/26/2015 6:19:08 PM PDT by forgotten man
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To: C. Edmund Wright

There is free trade and then there is stupid trade. Sadly you confuse the two and you don’t seem to be able to stop yourself.

You have been taken into the globalist industrial complex hive where you have been brain washed that free trade is all of our manufacturing leaving the country and H1-B visas entering the country to take way as many of the remaining good jobs as possible.

Any country that has the trade imbalances of the US is engaging in stupid trade.

Your economic belief system is the GOPe wetdream. You are the establishment.


42 posted on 08/26/2015 6:20:12 PM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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To: C. Edmund Wright

I honestly don’t have a big problem with tariffs being used to increase US manufacturing and I’m pretty conservative. What we have here in America right now is not working and is not sustainable in the long term.


43 posted on 08/26/2015 6:20:58 PM PDT by RC one (....and subject to the jurisdiction thereof,)
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To: Moonman62

wow, I’m reading too fast, doing too many things at once. I underestimated the sheer stupidity of your last comment to me.


44 posted on 08/26/2015 6:21:43 PM PDT by C. Edmund Wright (WTF? How Karl Rove and the Establishment Lost...Again)
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To: South Dakota

>> the democrats refused to work with Hoover to speed the recovery <<

I guess one might say that the Dhimmis’ obstructionism was sorta to their credit in this case, because Hoover was following some really terrible policies — many of which FDR merely expanded upon.


45 posted on 08/26/2015 6:22:12 PM PDT by Hawthorn
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To: nickcarraway

Damn you are one little lying dirt bag.


46 posted on 08/26/2015 6:22:59 PM PDT by heights
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To: old curmudgeon

I never said he has no control over his companies. I said he’s never been the CEO of a large corporation. Big difference. He is the sole proprietor of his private company.


47 posted on 08/26/2015 6:23:55 PM PDT by nickcarraway
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To: DB

Trump has clothes manufactured in China, Bangladesh, and Mexico. And who works on his building crews?


48 posted on 08/26/2015 6:24:46 PM PDT by nickcarraway
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To: tennmountainman

>> the economy has been hurting for some time <<

Thanks to whom, exactly?

Hint:

His middle name is Hussein.


49 posted on 08/26/2015 6:25:07 PM PDT by Hawthorn
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To: C. Edmund Wright

You’re an expert on stupidity.


50 posted on 08/26/2015 6:25:15 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Eddie01

Larry Kudlow hasn’t been right about anything in 20 years.


51 posted on 08/26/2015 6:25:23 PM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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To: old curmudgeon

That sounds like a liberal argument. You are basically saying business will do the wrong thing unless the government sets up all kinds of regulations to force them to be good. Am I wrong, or did you just espouse the Democrat thesis?


52 posted on 08/26/2015 6:26:40 PM PDT by nickcarraway
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To: Nachum

NAFTA is an important part of Agenda 21. The Preamble states that a NAFTA Goal is “Support Sustainable Development”


53 posted on 08/26/2015 6:31:23 PM PDT by Captain7seas (i)
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To: C. Edmund Wright

And if it is not free and open?


54 posted on 08/26/2015 6:31:58 PM PDT by cp124 (Government is value subtracted.)
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To: heights

Oh yeah? You are just mad your hero is outed. His clothes were manufactured in China, Bangladesh, and Mexico. He employs thousands of illegals working in construction.


55 posted on 08/26/2015 6:33:39 PM PDT by nickcarraway
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To: C. Edmund Wright
“....but don’t pretend as US President you can do much about it”

Use 80% of the border patrol to audit businesses for compliance with having an I-9, copy of their photo ID and Social Security card on every employee.

Any they find not in compliance, fine them the maximum. {If they are caught a second time automatic prison.

Include any home owners that hire off the curb and publicise every one of them.

The illegals will self deport because within 6 months there won't any employment for any of them.

56 posted on 08/26/2015 6:40:01 PM PDT by dalereed
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To: Cicero
>> The Federal Reserve was enabled by FDR, who took the country off the gold standard and let them run wild <<

I'm not a great fan of the Fed -- and neither was Milton Friedman, to say the least.

But still, if you think the Fed "ran wild" during the 1930's, then it appears that you are regrettably ill-informed about monetary history.

In fact, the Fed SHRUNK the money supply during that period -- the very opposite of "running wild."

Moreover, it was this shrinkage of the money supply that (1) transformed a routine downturn of the business cycle into the Great Depression and that (2) prolonged the depression until the outbreak of World War II.

This history is painstakingly documented by Milton Friedman and Anna Schwartz in their monumental Monetary History of the United States. I daresay this book has been the most influential and important empirical study in the history of economic inquiry. It's explanation of the Great Depression has never been successfully challenged -- and probably never will be.

57 posted on 08/26/2015 6:41:29 PM PDT by Hawthorn
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To: cp124
And if it is not free and open?

We can answer from recent history - and it makes common sense. When it's not free and open, what you have are protected industries. So to protect a few thousand US Steel union workers under W Bush, there was a huge tariff slapped on foreign steel. What happened is hundreds of thousands of construction jobs and auto making jobs and other jobs went away, because with steel artificially inflated by 40% - far less steel was bought and far less things were made with steel and far less jobs resulted. This is common sense, what we all know from supply and demand. Prices go up, purchases go down.

58 posted on 08/26/2015 6:42:58 PM PDT by C. Edmund Wright (WTF? How Karl Rove and the Establishment Lost...Again)
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To: dalereed

I was not talking about that issue....I was talking about the US President and his impact on Chinese internal politics.


59 posted on 08/26/2015 6:43:40 PM PDT by C. Edmund Wright (WTF? How Karl Rove and the Establishment Lost...Again)
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To: Georgia Girl 2; C. Edmund Wright

“You are the establishment.”

We’re going to have to start giving out an award to the first Trumpie on a thread who accuses a conservative of being “establishment” because they disagree with Trump.


60 posted on 08/26/2015 6:46:35 PM PDT by Boogieman
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