
Offthemat
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Days Won
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Posts posted by Offthemat
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everyone is selling.
Jerome Powell said he’s not.
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No, these are WELL above Smoot-Hawley.
There you go again, Smoot/Hawley raised tariffs from ~40% to ~60%.
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The plan, I presume you mean is to work out deals with these Countries in the next ~4-5 days and try and find some trade deals, right?
He’s said this is not the plan. I have a question, being as the selloff began immediately after his announcement, who was selling? Who has been selling?
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We are in a crash. You can zoom out father and it'll look less significant relatively speaking...it won't sound any dumber.
While you’re zooming out take into account what Trump’s goal is. He has a plan.
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These are higher than what he campaigned on so that's another blatant lie.
Who are you calling a liar? And who are you to call anyone a liar?
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Congress
Got it. The House passed it in May of 1929. After Hoover asked them to devise a tariff to help farmers, who were already experiencing the depression. They didn’t follow his guidance. It wasn’t until June, 1930 that the Senate passed it. The farmers were experiencing pressure from tariffs imposed by Europe due to their farmers increased/over production and the higher interest rates imposed by the fed in early 1928.
I said from the beginning that tariffs didn’t help matters during the depression, but to say they were the cause of it is just wrong. There is plenty of blame for the Fed. The stock market was so crazy that people were borrowing from the bank to buy stocks on margin. Waited too long and overreacted.
The best thing about this is Trump’s inclusion of trade barriers and currency manipulation in the formula. And he’s let it be known that tariffs can be lifted if fair agreements can be reached, but few will move without being prodded.
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I can’t believe you don’t see the obvious difference.
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Whine to ur mommy. You voted for this fat piece of toilet trash.
I did not know you were on the ballot and I sure didn’t vote for you.
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The part people often get wrong is they ignore that the tariffs were passed BEFORE the market crash.
What dates do you have for the crash and passing of Smoot/Hawley? Because I’m getting October 1929 for the crash and June 1930 for passing and signing of Smoot/Hawley. Also showing that S/H raised tariffs from ~40% to ~60%. How do the acceptable pre S/H rates compare to Trump’s?
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Is that what "many now believe?"
Scholarly historians, like yourself, have an advantage over me.
No, we should listen to the guy who proved the saying "the house always wins," is...ACTUALLY not true. Not when HE is President...
It’s easy to figure what the carried interesters are after, but why do you suppose the President is doing this?
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this changed nothing other than it's the 3rd straight time the Republicans have put something voter ID related on the ballot
Wisconsin law requires an amendment to pass by vote twice before being enacted.
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Despicable
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Before everyone cheers the contracting GDP
The GDP that has been bolstered by government jobs and government spending? We’re getting away from that.
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Also, you mind telling me what the point of this post is?
“Scholars now believe that these policies may have reduced trade somewhat but were not a significant cause of the Depression among the large industrial producers.”
And you shouldn’t listen too much to those Wall Street carried interest folks, they’re unholy, and will exploit anything to fleece you. In about six months or a year, or a couple of weeks, when all this starts paying dividends, we’ll be fine. We’ve got some in the market, some in gold, and some in cash that’ll be real handy now that it’s time to buy. -
The part people often get wrong is they ignore that the tariffs were passed BEFORE the market crash. They just weren't implemented until after the crash. But as we've seen the past 3 months, the prospect of tariffs cause a great deal of uncertainty. Earnings season was incredible...and stocks still dropped(by in large) despite beating...over and over.
“The 1930 enactment of the Smoot-Hawley Tariff Act in the United States and the worldwide rise in protectionist trade policies created other complications. The Smoot-Hawley tariff was meant to boost farm incomes by reducing foreign competition in agricultural products. But other countries followed suit, both in retaliation and in an attempt to force a correction of trade imbalances. Scholars now believe that these policies may have reduced trade somewhat but were not a significant cause of the Depression among the large industrial producers. Protectionist policies, however, may have contributed to the extreme decline in the world price of raw materials, which caused severe balance-of-payments problems for primary-commodity-producing countries in Africa, Asia, and Latin America and led to contractionary monetary and fiscal policies.”
https://www.britannica.com/event/Great-Depression/Causes-of-the-decline
So YOUR belief is that all we did was if China had a 10% tariff on Steel, we just matched that?
China is a special case and I fully support punitive measures against them. Though the administration’s numbers show that we’re not hitting them as hard as they hit us, just almost.
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Do you really not see how this is harmful?
We just started a trade war with all of our allies.
This is just shockingly stupid...
No we didn’t. It’s reciprocal. Why do you believe it’s okay for other countries to have tariffs on our goods, but catastrophic for us to put equal tariffs on them.
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Happy Liberation Day.
Liberation from affordability.
Liberation from your savings.
Liberation from your investment value.
Free at last. Free at last. Thank God Almighty, free at last.
Women and children hardest hit.
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There's already been one. The last time someone was stupid enough to try this.
It’s been a long time since I’ve heard anyone claim that tariffs were the cause of the depression. Most economists today recognize that the Fed probably deserves the most blame, while an untimely tax increase and the tariffs didn’t help, they were enacted after the depression had already begun. Here’s a link to your NPR that might help you. Odd that the Fed seems to be up to their old tricks, again.
https://www.npr.org/2025/03/06/nx-s1-5318076/tariffs-great-depression-explainer
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If you don't like what Trump is doing just wait a week because He'll change his mind. Great leader.
If so, why have you been complaining so loudly for the last couple of months?
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He’s certainly in the top 2 this season.
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Tariff Hypocrisy
in Non Wrestling Topics
Posted
The Smoot-Hawley Tariff Act, enacted in June 1930, added about 20% to the United States' already high import duties on foreign agricultural products and manufactured goods. The Fordney-McCumber Act of 1922 previously raised the average import tax on foreign goods to about 40%.
https://www.investopedia.com/terms/s/smoot-hawley-tariff-act.asp