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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (54513)	10/24/2002 5:56:09 PM
From: Bilow	Read Replies (1) \| Respond to of 281500

Hi CobaltBlue; Re: "The deflation wasn't induced by debt, it was caused by having too high of a gold-foreign exchange rate. Set at the Genoa Conference in 1926, you could look it up. Read John Maynard Keyne and von Mises, they predicted it." The depression was world-wide. Different countries had different policies re gold / foreign exchange rates (most notably France and Great Britain). Despite these differences, they all got sucked into the Depression. Re: "Now, admittedly you were talking about military isolationism, but I assumed that because you were talking about Buchanan that you also meant economic isolationism, as he preaches." The quote was this: "America ought not put herself at risk to defend rich and powerful nations like South Korea and Japan. Half a century after World War II and the Korean conflict, it is time they assumed the primary burden of their own defense." It had nothing to do with economic isolationism. Regarding economic isolationism, I agree with you, not Buchanan, but our side on this is probably hopeless. Free trade has done rather well while the world economy has been strong, but it remains to be seen what happens to it when things break down. The attraction of protectionism is strongest when economic downturns arise. That would be now. And by the way, did you see what Bush has been doing with imports? If you didn't read here: USWA: Bush Administration Steel-Import Filing ‘Vital First Step on the Road to Recovery' United Steelworkers of America (USWA) President Leo Gerard welcomed today’s announcement that the Bush Administration has formally filed a Section 201 petition with the International Trade Commission seeking relief from harmful imports of a wide range of steel products. ... uswa.org EUnited Steelworkers of America (USWA) President Leo Gerard welcomed today’s announcement that the Bush Administration has formally filed a Section 201 petition with the International Trade Commission seeking relief from harmful imports of a wide range of steel products. Deny it how you will, but this whole "unilateralism" binge follows the same logic as "beggar thy neighbor" and the economic unilateralism that you are complaining about. -- Carl