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To: sanchmo

Ridiculous.... you are reaching


34 posted on 01/31/2009 6:04:24 PM PST by dennisw (white trash philosophizer)
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To: dennisw

Every number I quoted above is accurate. Smoot-Hawley caused 3.5% GDP destruction and approx 5% unemployment for a decade. How can a country that is a net exporter not be hurt when international trade comes to a screeching halt, if there4 is no corresponding domestic demand to take up the slack? This is one of the few facts of economics that isn’t even counterintuitive.


35 posted on 02/01/2009 3:52:27 PM PST by sanchmo
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