Or how about this: Trader_Jorge believes in national allegiance, just like Adolf Hitler. Trader_Jorge = Adolf Hitler Give me a break.
I have nothing against his degree and do not mean to belittle it in any way. My point was not addressed at whether it is an associate's or master's degree or Ph.D. or whatever. However, it is in electronics, and as I said, I am just not sure how that qualifies him to rewrite economic history when practically all economists agree that the Smoot-Hawley act was misguided economic policy. Other than that, as I said, I am done arguing with you. Why would I try to refute some evidently dumb statements. That's like you saying "2+2 is 7, what is your best defense against that". Or like you farting and then saying "refute that". No thanks .
Hawley-Smoot or Smoot-Hawley Tariff I was gonna stay outta this, but let's set the stage in 1930. It's a worldwide depression which began in the agricultural midwest in the mid 1920s. The Wall Street collapse came in 1929. Congress is made of members who desperately want to do something to help. The world is a much bigger place, and isolation by the oceans was a very real phenomenon. In this moment of desperation the ACT was passed. It was excessive, lacked the political, economic or diplomatic power to make it work, and it didn't work. The sad truth is that nothing worked, and singling out the ACT is silly. If you are in a storm, the size of your paddle really doesn't matter. Yes, there followed retaliatory tariffs, and yes, there followed further economic woes, but cause and effect is not so easily determined in the maelstrom. Easy for students in business classes to view these events as if every year the US is the same. The country was weak and faltering at the time. It was not a superpower at all, but one country in big trouble. It lacked the military or economic prowess it has today. Guns and money = ability to control foreign markets more. That translates to better trade deals. We have the term "GUNBOAT DIPLOMACY" because of the enforcement of trade rights.
It isn't Smoot-Hawley or the lack thereof which led to US economic dominance. It was being the first to develop a nuclear weapon and the only country to use it thus far. THAT made us number one in the world. Let's not kid ourselves. On a global scale, we're Tony Soprano. First came the power, then the money.
Let's not kid ourselves. On a global scale, we're Tony Soprano. First came the power, then the money. Great, this one second thought just dimished the value of every hard working American that ever lived.
I'm sorry but any Macroeconomist would completely and vehemently disagree with you. Your statement is simply wrong. By allowing tariffs, we RAISE the costs of products and services to consumers, thereby decreasing their spending. This will ultimately cause unemployment to rise because of the higher cost of production. It is vital to continue to shift our nation from a manufacturing powerhouse to an even more service oriented nation, catering to the rest of the world.
That city is amazing. Partying there is a whole different world. I went to Trinity Univ and have lots of friends from DF and Monterrey and now do some business in Monterrey. My ex is from Monterrey also. Did you get to go out much there while you were working?
