Right. He said the Depression would have never happened if they had stayed with it. The problem is the Depression started in 1929, before the tariff act passed in 1930. They tried the tariff to protect industry, but it worsened the situation and lasted for nearly a decade, with tariffs not lifted until years later (1940) So, the statement is wrong both in claiming it would have prevented the Depression and in implying that it was short-term.
Its funny cuz if you look in the other Bidenomics thread he claimed only the elites cared about onshoring manufacturing jobs and middle class folks care about prices and now suddenly he's done a 180. You guys are being gaslight by a low iq troll @Space Ghost
Globalization was dying and Trump drove in the final nail in the coffin with a sledge hammer. The US and China benefited tremendously from Globalization. But China does not have the will nor the credibility to become the United States as the enforcer of globalization. The less interconnected trade, the lower the barrier for physical warfare, and everyone will be a bit worse off for it no matter what. The fall is always worse than the ascent.
Trade has long played a crucial role in maintaining peace by fostering economic interdependence, a key point often overlooked. People often don’t realize its impact until it's lost, and only then do they see how essential it was for global stability.
Good post. Isolationism is certainly a way to long play yourself into a dictatorship, or at the very least the PRC, depending on how you color it.
This is a bunch of . . .. "How can we GIVE WHITE PEOPLE MONEY (again) and not give any to anyone else" Rocket River
We need to start looking at the AFTER DEPRESSION actions that helped repair the damage now Rocket River
No, I don't believe that you are going to have long term manufacturing growth in the USA, especially not with the income costs and benefits that employees will seek. You can have pockets and niches, especially in highly specialized fields - but the times of the 1940's-1970's are gone. It comes down to wealth distribution, reasonable consumer protections and building a proper infrastructure. I have no real desire to use subsidies to entice companies to put manufacturing jobs in the USA - it defeats the purpose, it is all a big math equation and if the government is going to be giving subsidies to companies to pay artificially high wages - then just distribute the subsidies directly to the people. When you start propping up industries that will continue to need to be propped up - it is a shell game.
But why do we need to have the manufacturing base of the 1950s? Under biden we saw 100k+ manufacturing union jobs come back in high value supply chains. We saw battery plants, solar plants, ev factories and semiconductor manufacturing come back. The entire point I'm making is that we can bring back high value manufacturing back to usa through targeted subsidies which won't impact the everyday consumer. There's no need to making toaster ovens and t-shirts back to the usa Theres nothing wrong with subsidies when you are targeting next generation tech to come back. Without the chips act we would not be having TSMC producing the newest chips in the usa. Without subsidies battery manufacturing wouldn't come back.
not unless we give up our reserve currency status which would mean we pretty much destroy our standing in the world. People forget that our biggest export is the dollar.
Housing, food and utility sucks up most of their income. I'm not saying there is zero effect, but it's pretty low.
Sure. Those earning less than 60k has no money to spare. The 10% either pay the tariff or forego the purchase. Do I buy the $1500 tv to replace the perfectly good TV or do I wait.
Trump's repeated economic vandalism will lessen US's economic standing in the world, towards eroding the US dollars as the defacto global reserve
Yeah I'm sure working class is worried tvs and not the massive tariffs he's put on textiles and clothes coming from Asia. Its an amazing ide that we need to put tariffs on shorts and t-shirts from Bangladesh lol. Its just funny watching the same braindead trolls who cired abiut inflation unded biden for 4 years suddenly tell everyone that inflation is no big deal
