Current Events > How bad is our economy going to tank?

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Shuto-uke 05/31/18 6:51:58 PM #1:	Unilateral tariffs were bad enough for our economy. But turns out that Canada, EU and Mexico are slapping tariffs of their own on us. That's it, our 3 biggest trading partners slapped tariffs on us for BILLIONS of dollars. How bad will this hit us? I hope you're happy, MAGA people. Your thirst for racism will hit us all in the wallet. <cite>Shuto-uke posted [p:902330484] in How bad is... [t:76662686]...</cite> <quote>Unilateral tariffs were bad enough for our economy. But turns out that Canada, EU and Mexico are slapping tariffs of their own on us. That's it, our 3 biggest trading partners slapped tariffs on us for BILLIONS of dollars. How bad will this hit us? I hope you're happy, MAGA people. Your thirst for racism will hit us all in the wallet.</quote> ... Copied to Clipboard!
Reis 05/31/18 6:58:51 PM #2:	Thanks Obama! <cite>Reis posted [p:902330849] in How bad is... [t:76662686]...</cite> <quote>Thanks Obama!</quote> ... Copied to Clipboard!
Photachyon2 05/31/18 7:05:39 PM #3:	But muh economic anxiety --- Posted with GameRaven 3.5.1 <cite>Photachyon2 posted [p:902331223] in How bad is... [t:76662686]...</cite> <quote>But muh economic anxiety</quote> ... Copied to Clipboard!
metralo 05/31/18 7:07:54 PM #4:	who cares, as long as it triggers libs and it gets the brown people out conservatives will love it --- https://pbs.twimg.com/profile_images/1298321979/image.jpg bustin makes me feel good <cite>metralo posted [p:902331346] in How bad is... [t:76662686]...</cite> <quote>who cares, as long as it triggers libs and it gets the brown people out conservatives will love it</quote> ... Copied to Clipboard!
Fuparulez 05/31/18 7:08:52 PM #5:	Interesting how you tried to tie racism into economic policy. Can't possibly attack Trump without calling half the country racists. Hint: that's why you lost. We'll be fine, it's only knuckleheads that haven't yet figured out Trump knows what he's doing. --- It's the fat upper kitty area, and if you got one I wanna marry ya! <cite>Fuparulez posted [p:902331391] in How bad is... [t:76662686]...</cite> <quote>Interesting how you tried to tie racism into economic policy. Can't possibly attack Trump without calling half the country racists. Hint: that's why you lost. We'll be fine, it's only knuckleheads that haven't yet figured out Trump knows what he's doing.</quote> ... Copied to Clipboard!
DavidWong 05/31/18 7:09:33 PM #6:	Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902331415] in How bad is... [t:76662686]...</cite> <quote>Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell</quote> ... Copied to Clipboard!
KingCrabCake 05/31/18 7:09:53 PM #7:	hands tc attention --- I have a gamefaqs following. Watch them flock to my posts. <cite>KingCrabCake posted [p:902331427] in How bad is... [t:76662686]...</cite> <quote>hands tc attention</quote> ... Copied to Clipboard!
foreveraIone 05/31/18 7:10:24 PM #8:	DavidWong posted... Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell Do you have an education in econ? --- https://imgur.com/aVTScxQ Always. Edgy. <cite>foreveraIone posted [p:902331458] in How bad is... [t:76662686]...</cite> <quote><cite>DavidWong posted...</cite> <quote>Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell</quote> Do you have an education in econ?</quote> ... Copied to Clipboard!
DavidWong 05/31/18 7:11:45 PM #9:	foreveraIone posted... Do you have an education in econ? yes, my major is International Business --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902331525] in How bad is... [t:76662686]...</cite> <quote><cite>foreveraIone posted...</cite> <quote>Do you have an education in econ?</quote> yes, my major is International Business</quote> ... Copied to Clipboard!
BLAKUboy 05/31/18 7:14:12 PM #10:	There's a reason the current climate has been routinely compared to the Roaring Twenties. --- Aeris dies if she takes more damage than her current HP - Panthera https://signavatar.com/26999_s.png <cite>BLAKUboy posted [p:902331658] in How bad is... [t:76662686]...</cite> <quote>There's a reason the current climate has been routinely compared to the Roaring Twenties.</quote> ... Copied to Clipboard!
DavidWong 05/31/18 7:30:50 PM #11:	BLAKUboy posted... There's a reason the current climate has been routinely compared to the Roaring Twenties. Yeah, and then what happened --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902332481] in How bad is... [t:76662686]...</cite> <quote><cite>BLAKUboy posted...</cite> <quote>There's a reason the current climate has been routinely compared to the Roaring Twenties.</quote> Yeah, and then what happened</quote> ... Copied to Clipboard!
metralo 05/31/18 8:19:20 PM #12:	Fuparulez posted... that's why you lost. no, we just called you guys out on what you are. you racists were gonna vote for the guy that wants to do away with brown people whether we did that or not. --- https://pbs.twimg.com/profile_images/1298321979/image.jpg bustin makes me feel good <cite>metralo posted [p:902334907] in How bad is... [t:76662686]...</cite> <quote><cite>Fuparulez posted...</cite> <quote>that's why you lost.</quote> no, we just called you guys out on what you are. you racists were gonna vote for the guy that wants to do away with brown people whether we did that or not.</quote> ... Copied to Clipboard!
DifferentialEquation 05/31/18 8:23:44 PM #13:	At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war. --- There's no business to be taxed. <cite>DifferentialEquation posted [p:902335171] in How bad is... [t:76662686]...</cite> <quote>At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war.</quote> ... Copied to Clipboard!
Questionmarktarius 05/31/18 8:25:43 PM #15:	Steel may damn well actually come back to America somehow, but here's a hint where: https://upload.wikimedia.org/wikipedia/commons/1/15/Right_to_Work_states.svg <cite>Questionmarktarius posted [p:902335273] in How bad is... [t:76662686]...</cite> <quote>Steel may damn well actually come back to America somehow, but here's a hint where: https://upload.wikimedia.org/wikipedia/commons/1/15/Right_to_Work_states.svg</quote> ... Copied to Clipboard!
DavidWong 05/31/18 8:29:24 PM #16:	DifferentialEquation posted... At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war. That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims? --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902335471] in How bad is... [t:76662686]...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote>At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war.</quote> That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims?</quote> ... Copied to Clipboard!
tennisdude818 05/31/18 8:30:38 PM #17:	BLAKUboy posted... There's a reason the current climate has been routinely compared to the Roaring Twenties. Because the Federal Reserve has been inflating asset bubbles? --- "I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money." Thomas Sowell <cite>tennisdude818 posted [p:902335536] in How bad is... [t:76662686]...</cite> <quote><cite>BLAKUboy posted...</cite> <quote>There's a reason the current climate has been routinely compared to the Roaring Twenties.</quote> Because the Federal Reserve has been inflating asset bubbles?</quote> ... Copied to Clipboard!
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DifferentialEquation 05/31/18 8:32:11 PM #19:	DavidWong posted... DifferentialEquation posted... At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war. That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims? You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily --- There's no business to be taxed. <cite>DifferentialEquation posted [p:902335623] in How bad is... [t:76662686]...</cite> <quote><cite>DavidWong posted...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote>At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war.</quote> That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims?</quote> You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily</quote> ... Copied to Clipboard!
DavidWong 05/31/18 8:33:46 PM #20:	DifferentialEquation posted... DavidWong posted... DifferentialEquation posted... At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war. That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims? You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily Okay then, if all you have is "I believe in Trump and the decisions he's making", then there's no point continuing the discussion (it's not even a discussion really). I enjoy debating this stuff, but the other person needs to have solid arguments backed up by facts, not just "Trump says so, so it must be true". Good day. --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902335727] in How bad is... [t:76662686]...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote><cite>DavidWong posted...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote>At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war.</quote> That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims?</quote> You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily</quote> Okay then, if all you have is "I believe in Trump and the decisions he's making", then there's no point continuing the discussion (it's not even a discussion really). I enjoy debating this stuff, but the other person needs to have solid arguments backed up by facts, not just "Trump says so, so it must be true". Good day.</quote> ... Copied to Clipboard!
BLAKUboy 05/31/18 9:31:10 PM #21:	DE is an admitted gimmick, dude. --- Aeris dies if she takes more damage than her current HP - Panthera https://signavatar.com/26999_s.png <cite>BLAKUboy posted [p:902338922] in How bad is... [t:76662686]...</cite> <quote>DE is an admitted gimmick, dude.</quote> ... Copied to Clipboard!
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Reis 05/31/18 9:52:09 PM #23:	Bullet_Wing posted... BLAKUboy posted... DE is an admitted gimmick, dude. Yep That was one of his best posts ever tbh <cite>Reis posted [p:902340043] in How bad is... [t:76662686]...</cite> <quote><cite>Bullet_Wing posted...</cite> <quote><cite>BLAKUboy posted...</cite> <quote>DE is an admitted gimmick, dude.</quote> Yep </quote> That was one of his best posts ever tbh</quote> ... Copied to Clipboard!
LittleScootaIoo 05/31/18 9:53:21 PM #24:	It'll only effect you guys with minwage jobs. --- u/homelessscootaloo http://tinyurl.com/jk7uhjn <cite>LittleScootaIoo posted [p:902340101] in How bad is... [t:76662686]...</cite> <quote>It'll only effect you guys with minwage jobs.</quote> ... Copied to Clipboard!
Awesome 05/31/18 9:54:20 PM #25:	LittleScootaIoo posted... It'll only effect you guys with minwage jobs. Then that will effect people above them. --- https://imgur.com/gWCYPlD https://imgur.com/Ls3OgWR <cite>Awesome posted [p:902340161] in How bad is... [t:76662686]...</cite> <quote><cite>LittleScootaIoo posted...</cite> <quote>It'll only effect you guys with minwage jobs.</quote> Then that will effect people above them.</quote> ... Copied to Clipboard!
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orangefire25 05/31/18 9:59:08 PM #27:	Will this effect the housing market directly? Obviously it could hurt the economy and affect the job market but I'm buying a house in the fall and don't wanna fuck my life up. --- Wubba Lubba Dub Dub <cite>orangefire25 posted [p:902340411] in How bad is... [t:76662686]...</cite> <quote>Will this effect the housing market directly? Obviously it could hurt the economy and affect the job market but I'm buying a house in the fall and don't wanna fuck my life up.</quote> ... Copied to Clipboard!
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loafy013 05/31/18 10:04:31 PM #29:	DifferentialEquation posted... DavidWong posted... DifferentialEquation posted... At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war. That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims? You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily You are talking about the guy who has many failed businesses, runs away and declares bankruptcy, and would have more money now if he had just slapped his daddy's money in the bank instead of trying to run a business. --- The ball is round, the game lasts 90 minutes. That's fact. Everything else, is theory. <cite>loafy013 posted [p:902340701] in How bad is... [t:76662686]...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote><cite>DavidWong posted...</cite> <quote><cite>DifferentialEquation posted...</cite> <quote>At worst a short term dip in economy activity (so small that it wouldn't even qualify as a recession) for maybe 3 months, which will then be followed by an extended period of solid economic growth which will more than make up for the dip many times over after Trump wins the trade war.</quote> That is literally the opposite of what happens with protectionist policies/"trade wars". And do you even know what defines a recession? A recession is two consecutive quarters of negative economic growth. Do you have any facts, data, historical evidence to back up your claims?</quote> You may not like Trump's tweets and that's fine. But he doesn't lose when it comes to business or economics. He's going to win the trade war, and he'll win it handily</quote> You are talking about the guy who has many failed businesses, runs away and declares bankruptcy, and would have more money now if he had just slapped his daddy's money in the bank instead of trying to run a business.</quote> ... Copied to Clipboard!
orangefire25 05/31/18 10:05:09 PM #30:	Bullet_Wing posted... orangefire25 posted... Will this effect the housing market directly? Obviously it could hurt the economy and affect the job market but I'm buying a house in the fall and don't wanna fuck my life up. Provided the area is decent, a house is almost always a good investment. Even if the market goes to hell, it'll bounce back eventually. Highly possible that prices will plummet by the fall and you'll be able to score a deal. Thanks sir. --- Wubba Lubba Dub Dub <cite>orangefire25 posted [p:902340739] in How bad is... [t:76662686]...</cite> <quote><cite>Bullet_Wing posted...</cite> <quote><cite>orangefire25 posted...</cite> <quote>Will this effect the housing market directly? Obviously it could hurt the economy and affect the job market but I'm buying a house in the fall and don't wanna fuck my life up.</quote> Provided the area is decent, a house is almost always a good investment. Even if the market goes to hell, it'll bounce back eventually. Highly possible that prices will plummet by the fall and you'll be able to score a deal.</quote> Thanks sir.</quote> ... Copied to Clipboard!
R0N1N187 05/31/18 10:06:52 PM #31:	I see a bunch of people driving newer supercars almost everyday so not anytime soon. <cite>R0N1N187 posted [p:902340842] in How bad is... [t:76662686]...</cite> <quote>I see a bunch of people driving newer supercars almost everyday so not anytime soon.</quote> ... Copied to Clipboard!
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Shuto-uke 06/01/18 2:08:00 AM #33:	metralo posted... who cares, as long as it triggers libs and it gets the brown people out conservatives will love it Sad but true. news guy: "500000 jobs lost!" MAGA guy: "were some of those jobs from brown people?" news guy: I guess? MAGA guy: TAKE THAT LIBRULZ!! HAHAHA MAGA <cite>Shuto-uke posted [p:902352466] in How bad is... [t:76662686]...</cite> <quote><cite>metralo posted...</cite> <quote>who cares, as long as it triggers libs and it gets the brown people out conservatives will love it</quote> Sad but true. news guy: "500000 jobs lost!" MAGA guy: "were some of those jobs from brown people?" news guy: I guess? MAGA guy: TAKE THAT LIBRULZ!! HAHAHA MAGA</quote> ... Copied to Clipboard!
DavidWong 06/01/18 2:08:25 AM #34:	Shuto-uke posted... metralo posted... who cares, as long as it triggers libs and it gets the brown people out conservatives will love it Sad but true. news guy: "500000 jobs lost!" MAGA guy: "were some of those jobs from brown people?" news guy: I guess? MAGA guy: TAKE THAT LIBRULZ!! HAHAHA MAGA lol, so true --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902352482] in How bad is... [t:76662686]...</cite> <quote><cite>Shuto-uke posted...</cite> <quote><cite>metralo posted...</cite> <quote>who cares, as long as it triggers libs and it gets the brown people out conservatives will love it</quote> Sad but true. news guy: "500000 jobs lost!" MAGA guy: "were some of those jobs from brown people?" news guy: I guess? MAGA guy: TAKE THAT LIBRULZ!! HAHAHA MAGA</quote> lol, so true</quote> ... Copied to Clipboard!
Shuto-uke 06/01/18 2:10:07 AM #35:	foreveraIone posted... DavidWong posted... Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell Do you have an education in econ? So this is what we're looking forward to. Hmmm. Didn't this usher the great depression, and with it the mexican repatriation and and the chinese exclusion act? History could repeat itself. <cite>Shuto-uke posted [p:902352526] in How bad is... [t:76662686]...</cite> <quote><cite>foreveraIone posted...</cite> <quote><cite>DavidWong posted...</cite> <quote>Gonna post what I put in the other two topics: https://fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/ Summary: In 1930, President Hoover levied taxes of up to 40 to 60 per cent on imported goods under the Smoot-Hawley Tariff Act of 1930, in an effort to protect United States businesses and consumers. However, the results of the act saw a number of negative effects: national income fell by 36 per cent, unemployment increased from 3 to over 25 per cent and 40 per cent of all banks were permanently closed. --------------------- A recent example of negative effects of protectionism can be seen as recently as 2002, when then-President George Bush impose tariffs on steel of between 8 and 30 per cent, to be in effect until 2005. The European Union threatened retaliatory action and the World Trade Organisation ruled against the United States, seeing the tariffs removed. However, the United States Dollar index fell from 115 in January 2002 to a low of 81 in January 2005. --------------------- Trying to do bilateral deals with EVERYONE and slapping tariffs on goods and services, particularly imports, leads to LESS jobs, reduced national income/savings, and higher costs of goods and services. --------------------- >_> I'm not even American, but I'm pretty passionate about free trade and globalisation in case you couldn't tell</quote> Do you have an education in econ?</quote> So this is what we're looking forward to. Hmmm. Didn't this usher the great depression, and with it the mexican repatriation and and the chinese exclusion act? History could repeat itself.</quote> ... Copied to Clipboard!
DavidWong 06/01/18 2:11:46 AM #36:	Shuto-uke posted... So this is what we're looking forward to. Hmmm. Didn't this usher the great depression, and with it the mexican repatriation and and the chinese exclusion act? History could repeat itself. It sure did. And, some (myself in my most recent essay on the matter) argue that theoretically, the Smoot-Hawley tariffs can be linked to political extremism in the 1930s and the rise of Hitler, and World War II, the most globally devastating (economically and bloodiest) war in history. --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902352577] in How bad is... [t:76662686]...</cite> <quote><cite>Shuto-uke posted...</cite> <quote>So this is what we're looking forward to. Hmmm. Didn't this usher the great depression, and with it the mexican repatriation and and the chinese exclusion act? History could repeat itself.</quote> It sure did. And, some (myself in my most recent essay on the matter) argue that theoretically, the Smoot-Hawley tariffs can be linked to political extremism in the 1930s and the rise of Hitler, and World War II, the most globally devastating (economically and bloodiest) war in history.</quote> ... Copied to Clipboard!
wah_wah_wah 06/01/18 2:14:27 AM #37:	I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time. <cite>wah_wah_wah posted [p:902352665] in How bad is... [t:76662686]...</cite> <quote>I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time.</quote> ... Copied to Clipboard!
DavidWong 06/01/18 2:16:09 AM #38:	wah_wah_wah posted... I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time. We are literally living in the late 1920s right now. Tariffs now. Depression soon. Political nationalism/extremism is already on the rise (alt-right). Russia and NK lurking with their nukes, US has them too. Iran probably going to build theirs. World War III is around the corner. Hope you've got your ticket to the Vault. --- When goods do not cross borders, soldiers will. Frederic Bastiat, French economist (1801-1850) <cite>DavidWong posted [p:902352704] in How bad is... [t:76662686]...</cite> <quote><cite>wah_wah_wah posted...</cite> <quote>I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time.</quote> We are literally living in the late 1920s right now. Tariffs now. Depression soon. Political nationalism/extremism is already on the rise (alt-right). Russia and NK lurking with their nukes, US has them too. Iran probably going to build theirs. World War III is around the corner. Hope you've got your ticket to the Vault.</quote> ... Copied to Clipboard!
Shuto-uke 06/01/18 2:18:18 AM #39:	DavidWong posted... It sure did. And, some (myself in my most recent essay on the matter) argue that theoretically, the Smoot-Hawley tariffs can be linked to political extremism in the 1930s and the rise of Hitler, and World War II, the most globally devastating (economically and bloodiest) war in history. wah_wah_wah posted... I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time. This scares me. Yes, they might want to bring things down to rock bottom so they can justify expelling all of the "not real americans", which means, anyone darker than "good" and "ok" in the fox news chart: https://pbs.twimg.com/media/B8S3Q11IgAIAO_d.jpg <cite>Shuto-uke posted [p:902352760] in How bad is... [t:76662686]...</cite> <quote><cite>DavidWong posted...</cite> <quote>It sure did. And, some (myself in my most recent essay on the matter) argue that theoretically, the Smoot-Hawley tariffs can be linked to political extremism in the 1930s and the rise of Hitler, and World War II, the most globally devastating (economically and bloodiest) war in history.</quote> <cite>wah_wah_wah posted...</cite> <quote>I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time. </quote> This scares me. Yes, they might want to bring things down to rock bottom so they can justify expelling all of the "not real americans", which means, anyone darker than "good" and "ok" in the fox news chart: https://pbs.twimg.com/media/B8S3Q11IgAIAO_d.jpg</quote> ... Copied to Clipboard!
wah_wah_wah 06/01/18 2:24:15 AM #40:	DavidWong posted... wah_wah_wah posted... I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time. We are literally living in the late 1920s right now. Tariffs now. Depression soon. Political nationalism/extremism is already on the rise (alt-right). Russia and NK lurking with their nukes, US has them too. Iran probably going to build theirs. World War III is around the corner. Hope you've got your ticket to the Vault. I think posts like this are part of the problem, too. It's different from the 1920's because people, despite all the horror going on, were more hopeful that things could be made better. There is this national spirit in this country and even abroad now, where everything is so despairing, as if there's nothing that people can do to solve their own problems. Like Trump and the alt right are some sort of volcano that has to go off. Not necessarily. <cite>wah_wah_wah posted [p:902352942] in How bad is... [t:76662686]...</cite> <quote><cite>DavidWong posted...</cite> <quote><cite>wah_wah_wah posted...</cite> <quote>I think they want to redo the Great Depression again. They think they can get a better deal out of the chaos this time.</quote> We are literally living in the late 1920s right now. Tariffs now. Depression soon. Political nationalism/extremism is already on the rise (alt-right). Russia and NK lurking with their nukes, US has them too. Iran probably going to build theirs. World War III is around the corner. Hope you've got your ticket to the Vault.</quote> I think posts like this are part of the problem, too. It's different from the 1920's because people, despite all the horror going on, were more hopeful that things could be made better. There is this national spirit in this country and even abroad now, where everything is so despairing, as if there's nothing that people can do to solve their own problems. Like Trump and the alt right are some sort of volcano that has to go off. Not necessarily.</quote> ... Copied to Clipboard!
Darmik 06/01/18 2:26:01 AM #41:	Damn this topic is a bit of a downer --- Kind Regards, Darmik <cite>Darmik posted [p:902352991] in How bad is... [t:76662686]...</cite> <quote>Damn this topic is a bit of a downer</quote> ... Copied to Clipboard!
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Current Events > How bad is our economy going to tank? (+) Yeah! (+)

Current Events > How bad is our economy going to tank?