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Politics : Stockman Scott's Political Debate Porch
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To: Sidney Reilly who wrote (4598)8/15/2002 10:18:59 AM
From: Jim Willie CB  Read Replies (3) of 89467
 
imposed tariffs convinced me that we are repeating 1930's
this is an extreeeeemely well studied economic policy error
it started with steel, then agriculture, then lumber
it protects our control of production
but it also keeps prices high, employment down
it represents malinvestment

I am convinced that succumbing to political pressures is always the easy route, the path of least resistance, yielding to the cry and moan of the masses

but it results in far worse economic damage
with a sustained dollar decline in combination, it can even result in a very damaging recession, or worse
after another few policy errors, we might see...
THE GREATER DEPRESSION

yes, last straw for me too
when I heard of tariffs, my immediate thought was that the Bush Econ team is full of real amateurs, children

/ jim
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