President Barack Smoot-Hawley

I’ve said it before and I’ll say it again: raising tariffs and starting a trade war during a recession is stupid: it is the exact opposite of what you want to do, for it chokes off the very commerce needed to foster renewed growth.

Of course, when we have a president so ignorant of basic economics that he thinks of profits as part of a business’ overhead:

But by avoiding some of the overhead that gets eaten up at private companies by profits and excessive administrative costs and executive salaries…

…It’s perhaps a bit much to expect him to understand the importance of free trade to prosperity.  Doh

LINKS: Hot Air.

One Response to President Barack Smoot-Hawley

  1. rwisher says:

    I spent some time on this issue. Is Obama trying to undermine the country, or is he an ideologue just hellbent on trying it his way?

    What I’m working on is theory that Obama is more a chisel than a hammer, and his lack of education in economics and history may not be important since he isn’t the one making the moves. I argue that Obama was picked, polished and presented by the country by a group of people (Chicago based liberals) who are intent to change the country. Their goal is is not the left wing ideology of NY or Cal. but the more Al Capone-ish concept of getting their as much and as quickly as possible. These people are driven by the unions and other labor agendas.

    The loose cannon in all of this is the George Soros group. I still believe there are people of power and influence who want our nation to become a second class power. That way, we are too busy dealing with our own issues and can’t get in their way.

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