Smoot-Hawley was trending last night after Cruz said it "caused the Great Depression."
Obviously untrue, as it was passed after the crash while liquidity was removed from the market, but what of the argument that it made it worse by even further restricting liquidity?
At any rate, I find the analogy between a Trump tariff and the Smot-Hawley/Depression era tariffs inconsistent at best. Why aren't these people talking about the other countries that have tariffs?
Obviously untrue, as it was passed after the crash while liquidity was removed from the market, but what of the argument that it made it worse by even further restricting liquidity?
At any rate, I find the analogy between a Trump tariff and the Smot-Hawley/Depression era tariffs inconsistent at best. Why aren't these people talking about the other countries that have tariffs?