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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: JF Quinnelly who wrote (8374)	9/3/1999 11:46:00 PM
From: Sam	Read Replies (1) \| Respond to of 15132

<<Now the Smoot-Hawley Tariff was enacted after the stock market crash. So with the Wanniski thesis, we have the effect preceding the cause.>> No, he doesn't think that the stock market crash caused the depression, it was the tariffs that slowed down the economies of the world that caused the depression. The bubble caused the crash, the depression could possibly have been avoided, in his opinion, despite the bubble and the crash, if free trade had been allowed and the proper monetary policies had been followed. At least that is my understanding of his views.