March 10, 2012 Leave a comment
I missed this story, and it’s important and TRUE.
If you heard of the Great Depression of the 1930’s before we entered our current one, you’ve heard of the Smoot-Hawley tariff. You may even know that trade wars employing high, defensive tariffs were a large factor in reducing global business, thus worsening and lengthening the depression. And if you’re politically experienced, you realize that politicians learn nothing from history. In that case, Congress Approves Punitive Tariff Against China will not surprise you.
So far, nothing has been surprising, right? Bush and then Obama have economically channeled Hoover and Roosevelt on steroids. Results have for some reason, been equivalent. Europe is going down again and all the countries lossing their free ride on Germany are getting mad at the awful Germans who don’t want to continue supporting them just because they’re broke too.
The E.U. and U.S. are supposed to be saved by China, the economic miracle, right? Yeah…the China who relies on…
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