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Said Kudlow: “Lower tariffs equals lower taxes equals growth. In the 1930s high tariffs, Smoot-Hawley tariffs, equals high taxes, equals depression. It’s that simple. Too many Republicans on the campaign trail are flirting with protectionism. Trump is the worst, but he’s not the only one.”
He added: “He wants to stop trading with China. He wants to stop trading with Mexico. Lord knows who else he wants to stop trading with. These are huge trading partners of ours. There are political issues that need to be resolved, but you never cut off your nose to spite your face, do you? That’s what Trump is doing. Too many Republicans are flirting with protectionism. Protectionism is anti-growth, protectionism, protectionism led to the depression of the 1930s.”
This would be incredibly funny if it wasn't so sad. As I've stated many times, for far too many the only principles a large portion of the people have is their party loyalty.
But can we all agree that economic policies, for the most part, don't have immediate impact. We may not know for three or four years.
In my area, in 2014, major auto manufacturers announced expansions. The biggest one -- didn't start hiring until four years later when Trump was President. So are all those positive job numbers HIS policies or are they a slow domino effect of the recovery from the worst recession any of us have seen.
Note I didn't give Obama credit for the economic growth in my area ....just a natural recovery from the worst recession.
Don't tell me Kudlow is a hypocrite! Lindsey Graham said he was mentally unbalanced. Mick Mulvaney said he was a terrible human being. I think they would have a difficult time finding someone who hasn't given their honest negative opinion on Trump.
Then they get a promise and a glass of Kool-Aid and do a 180. Go figure.
It is unreal the Fed is considering lowering rates at current levels around 2.5%. Extremely reckless fiscal policy and it just shows how much of shoestring the whole "recovery" has been over the last 10 years. It is an epic bubble predicated on artificial low rates and cheap money. The pain from this bubble bursting will be catastrophic. There is no long-term vision or plan here. It is all about keeping the stock market and housing bubble artificially inflated for as long as possible.
It wouldn't surprise me if 25% unemployment is coming in the near future. This isn't going to end well.
I doubt it. The worst that happened under another Republican president, Bush II, it didn't get anywhere near 25%. If there is a recession soon coming, I hope the people will have the good sense to vote Trump out. May the Electoral College work for the good in 2020.
It is unreal the Fed is considering lowering rates at current levels around 2.5%. Extremely reckless fiscal policy and it just shows how much of shoestring the whole "recovery" has been over the last 10 years. It is an epic bubble predicated on artificial low rates and cheap money. The pain from this bubble bursting will be catastrophic. There is no long-term vision or plan here. It is all about keeping the stock market and housing bubble artificially inflated for as long as possible.
As long as enough individuals and businesses are able to pay their debts, the economy should continue to be able to go on fine. A strong economy depends on that.
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