If orders for durable goods drops for foreign made items then how does that kill the USA economy? Laid off factory workers in other countries can KMA. So your comment MAKES NO ECONOMIC SENSE.
Better if we just go ahead and go over the cliff? Screw that. SMOOT HAWLEY did not do anything to cause or worsen the Great Depression. That is myth and a lie. If S-H act had not been passed the history of the 1930's would have been exactly the same.
My point is that economics often doesn't make sense. Sometimes what happens is very different from what we expected to happen. We have been engaging in a discussion about the economic factors which triggered the Civil War.
So far, the evidence is leading me in the direction of the war being started to protect North Eastern monied interests. Their monopolistic/protectionist policies didn't have the intended consequences they expected.
When they saw they were going to lose huge sums of money due to Southern independence, they pressured Lincoln to start a war to prevent those huge losses.
Better if we just go ahead and go over the cliff? Screw that. SMOOT HAWLEY did not do anything to cause or worsen the Great Depression. That is myth and a lie. If S-H act had not been passed the history of the 1930's would have been exactly the same.
I do not know if it is a myth and/or a lie. I am amenable to arguments that it is, but I think economic policy needs to be set with a great deal more caution than we have seen in the past.
Before making such changes, we need to be D@mned sure they will result in consequences we like.