Opinion of the Smoot–Hawley Act

[falling apart like the ashes of American flags]

Freedom Act because while it absolutely ruined the world's economy, something something populism, something something anti-neoliberalism.

[Southern Senator North Carolina Yankee]

Smoot-Hawley didn't collapse the global economy. It was gasoline though.


The main thing was that with the collapse of the stock market, the capital flowing from the US To Germany (responsible for Germany's 1924-1929 revival) stopped. This in turn meant that Germany defaulted on its loans and its economy collapsed, and imports from the US To Germany dropped of course.

US demand for global resources also dropped as the Depression accelerated. The collapse of the banking system is what drove the US down and with it the global economy and global trade.

Now it is true that Smoot-Hawley made things worse and demaged industrial exports of things like cars even further. However, it is a misnomer to say that Smoot Hawley wrecked the global economy or caused World War II, only to the extent that it was a contributing factor to the Depression.

[Ye We Can]

Smoot-Hawley didn't collapse the global economy. It was gasoline though.


The main thing was that with the collapse of the stock market, the capital flowing from the US To Germany (responsible for Germany's 1924-1929 revival) stopped. This in turn meant that Germany defaulted on its loans and its economy collapsed, and imports from the US To Germany dropped of course.

US demand for global resources also dropped as the Depression accelerated. The collapse of the banking system is what drove the US down and with it the global economy and global trade.

Now it is true that Smoot-Hawley made things worse and demaged industrial exports of things like cars even further. However, it is a misnomer to say that Smoot Hawley wrecked the global economy or caused World War II, only to the extent that it was a contributing factor to the Depression.

This.  The depression was a 1-2-3 punch between the Stock Market Crash, the Banking collapse, and the Trade War

[Intell]

Done at a bad time.

[Southern Senator North Carolina Yankee]

Done at a bad time.

This is what happens when you politicize policy beyond the actual needs of the economy. When you dumb it all down to more tariffs = good, you are risking disaster. The GOP does the same thing today, only with tax cuts instead of tariffs. Both also serve as a singular unifying policy issue. "What are Republicans put on the earth to do? Cut Taxes!". Back then the answer was raise tariffs. Also just like now with tax cuts, it had been turned into a silver bullet for all economic woes and crisis.

[Badger]

Boooooooooo!

[Senator Sirius]

Tariffs are mostly bad, great depression, etc.

[Banana Republican]

Smoot-Hawley didn't collapse the global economy. It was gasoline though.


The main thing was that with the collapse of the stock market, the capital flowing from the US To Germany (responsible for Germany's 1924-1929 revival) stopped. This in turn meant that Germany defaulted on its loans and its economy collapsed, and imports from the US To Germany dropped of course.

US demand for global resources also dropped as the Depression accelerated. The collapse of the banking system is what drove the US down and with it the global economy and global trade.

Now it is true that Smoot-Hawley made things worse and demaged industrial exports of things like cars even further. However, it is a misnomer to say that Smoot Hawley wrecked the global economy or caused World War II, only to the extent that it was a contributing factor to the Depression.

[RINO Tom]

Smoot-Hawley didn't collapse the global economy. It was gasoline though.


The main thing was that with the collapse of the stock market, the capital flowing from the US To Germany (responsible for Germany's 1924-1929 revival) stopped. This in turn meant that Germany defaulted on its loans and its economy collapsed, and imports from the US To Germany dropped of course.

US demand for global resources also dropped as the Depression accelerated. The collapse of the banking system is what drove the US down and with it the global economy and global trade.

Now it is true that Smoot-Hawley made things worse and demaged industrial exports of things like cars even further. However, it is a misnomer to say that Smoot Hawley wrecked the global economy or caused World War II, only to the extent that it was a contributing factor to the Depression.

Yeah, BRTD is not interested in this; let's not slow his roll he's on right now.

[Dabeav]

Is this the one that started the Vikings' Love Boat incident?