Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: maceng2 who wrote (1300)	5/18/2002 9:55:04 AM
From: maceng2	Read Replies (4) of 1643

WOW If this doesn't tell a story, I don't know what does... (from the link in the previous message) Hoover wrecked the American agricultural export market by using the power of the federal government to drive up agricultural prices. That was supposed to be good for farmers, but it simply destroyed their foreign markets. Hoover then destroyed almost all export markets by signing the Smoot-Hawley Tariff in 1930, even though he was warned in a petition from 1000 economists not to do it. Within a year American trade had fallen more than 50% and unemployment had jumped from 6% to 17%. Later Roosevelt said that farmers didn't need an export market anyway! I would have thought exports were kind of important for an economy like the USA. You don't have to be a rocket scientist to understand that. This tariffs discussion has been completed as far as I can see. There are lots of things wrong that need fixing but tariffs have just made us like the guys in the 1930's (imho)

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