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To: E. Charters who wrote (132132)9/29/2008 10:34:08 PM
From: PaperPerson  Respond to of 312299
 
Smoot and Hawley congratulate each other.......



Smoot-Hawley Tariff Act
From Wikipedia, the free encyclopedia

Representative W.C. Hawley (left) and Senator Reed Smoot (right) shake hands in agreement on new tariff bill.The Smoot-Hawley Tariff Act (sometimes known as the Hawley-Smoot Tariff Act)[1] was an act signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels. In the United States 1,028 economists signed a petition against this legislation, and after it was passed, many countries retaliated with their own increased tariffs on U.S. goods, and American exports and imports plunged by more than half. In the opinion of most economists, the Smoot-Hawley act was partially responsible for the severity of the Great Depression.

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en.wikipedia.org



To: E. Charters who wrote (132132)9/29/2008 10:43:13 PM
From: GoldBull no bug here  Read Replies (1) | Respond to of 312299
 
it's a silent uprising/revolt. People are fed up with the Enron types, and on many other levels.



To: E. Charters who wrote (132132)9/29/2008 10:53:31 PM
From: grusum  Read Replies (1) | Respond to of 312299
 
it would be a good thing if most credit went to credit heaven. i know some credit is a good thing. credit given to upgrade a business to rise above the competition is an example of what i'd call good use of credit.

but credit to buy cars, tvs, shoes etc., i don't think is such a good thing.

new businesses will rise to take the place of the old. new jobs will be offered, although fewer than before and probably for a little less pay.

i'm glad it was voted down. maybe something better can be done, i don't know. but i think i'd be happy just to have the market sort out the mess..



To: E. Charters who wrote (132132)9/30/2008 12:12:31 AM
From: koan  Respond to of 312299
 
Fareed Zakaria on the complexity of the issue and Palin:



cnn.com



To: E. Charters who wrote (132132)9/30/2008 12:34:13 AM
From: Little Joe2 Recommendations  Read Replies (1) | Respond to of 312299
 
Why couldn't we eliminate the federal reserve, and let the government mint the money. It makes no sense to me to have the control of the creation of money beyond the control of congress. It seems to me the only thing we accomplish is encouragement of a debtor society and the creation of unsustainable bubbles.

Anyone know whether any other countries operate in that fashion, and which ones.

Little joe