Kudlow, the mouthpiece of the ruling elite.
Have we lost our minds?
Now Mark isn't an economist so it's possible that he's easily influenced by Kudlow, who isn't an economist either, although he plays one on TV. "Kuddles" got his bachelors in history at college where he also majored in leftwing SDS politics. So before you join the Kudlow-Levin lemming rush over the tariff cliff keep a few things in mind.
The Smoot Hawley tariff debate began in Congress in Spring of 1929 when Herbert Hoover took office. That Fall the stock market crashed (Black Friday) and the Depression began. Smoot Hawley was still being debated. Congress recessed, the Depression deepened, and yet Smoot Hawley still didn't become law until June of 1930.
Now you don't need to be an economist to figure out what came first, The Depression, or the Smoot Hawley Tariff. All you have to do is look at a calendar.
So, you say, maybe Smoot Hawley didn't cause the Great Depression, but it made it a whole lot longer and worse. Because tariffs are bad per se. Right?
Well Smoot Hawley wasn't the first tariff during the 1920s. It was the third, the third in a decade remembered as The Roaring Twenties. The Fordney-McComber tariff was a high tariff and it went into effect in 1922. The Depression didn't start when it passed. The Twenties roared.
In the 1920s foreign trade accounted for something like 6% of GNP. Not a lot. We made virtually everything we consumed outside of bananas and coffee. Tariffs may have reduced or altered trade, and hurt some and benefited others, but they didn't kill the economy.
Kudlow talks like our trade imbalanced driven economy is currently doing fine.
Most people critical of Trump haven’t spent the time listening to the words coming directly out of his mouth.
Yeah, Trimp has no clue about the economy. Let’s see what’s in YOUR wallet, Kudlow?
The only thing Kudlow’s wrong about is immigration, except for the part where he admits it depresses some wages of U.S. jobs.
All we have to do is cut American layabouts off of the welfare, housing subsidies, food stamps, Obamacare, Obamaphones, etc. and they will take the jobs like picking crops that they currently mistakenly think they’re “too good for.”
We also need greatly reduced immigration and kicking all the illegals out, otherwise nothing Kudlow wants will ever come true. South America is left-wing commie land. They couldn’t even find a conservative Catholic there to be pope. Unless we get them out of our country, we will have nothing but more commies like Hugo Chavez and Barry Soetoro ever elected again.