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Keyword: billfrezza

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  • The Ghost of Smoot-Hawley Stalks Congress (Are we condemned to repeat the mistakes of the past?)

    10/04/2010 5:25:10 PM PDT · by SeekAndFind · 12 replies
    Real Clear Markets ^ | 10/04/2010 | Bill Frezza
    Just when you thought Congress couldn't possibly do more damage to the battered economy the House of Representatives, in a bipartisan act of impotent fury, voted 348-79 to light the fuse of a global trade war. Not since Herbert Hoover and Franklin Roosevelt tag teamed to turn a cyclic recession into the Great Depression have Democrats and Republicans jointly indulged in such destructive economic legislation. Congress is upset that China has pegged its currency to the dollar, as do many countries seeking monetary stability, not allowing it to appreciate as Uncle Sam prints up trillions. So the House passed the...