Donald Trump is proposing massive tariffs on foreign nations and their goods, particularly China, without realizing such a policy is a true economic disaster!
History tells us high protective tariffs, as for instance under President Herbert Hoover nearly a century ago, with the Smoot Hawley Tariff of 1930, helped make an economic downturn escalate into a full scale Great Depression!
Back then, hundreds of economists took out an ad in the NY TIMES, pleading with Hoover to veto such action, but he paid no attention, and it caused his demise to Franklin D. Roosevelt in the Presidential Election Of 1932.
What Trump clearly does not understand is that it is middle class and working class Americans who will suffer the most, as prices of all kinds of imported goods will rise 20 percent or more, adding massively to the cost of living.
Trump is ignorant on economics, along with many other areas of knowledge and policy, and were he elected and able to accomplish his crazy economic ideas, it could lead to another Great Depression!
So the Presidential Election of 2024 is crucial on economic policy, as it is on so many other issues!
As Donald Trump is so ignorant of history, he is touting Foreign Trade Tariffs which in the past devastated the economy.
Benjamin Harrison who won the Presidency on the Electorial Votes beating incumbent President Grover Cleveland.
Harrison’s Republicans held small majorities in both houses of Congress, making this the first time since 1875 that Republicans controled both Congress, Senate, and the White House.
With Harrison’s support, the highest protective tariff in the nation’s history. Known as the “McKinley Tariff” of 1890, the legislation raised rates an average of 49.5 percent. This bill also handed enormous authority to President Harrison the area of foreign trade. These expanded powers allowed the President to conduct trade conventions, to negotiate reciprocity agreements (i.e., offering lower import rates on foreign products in return for lower rates on American March 16, 1889 exports) without congressional oversight, and to erect a federal bureaucracy empowered to administer the complicated details and functions of foreign trade.
Harrison’s economic tariffs platform destroyed the U.S. economy that 24th President Grover Cleveland was the only President to leave the White House and return for a second term four years later when people voted Harrison out of office.
Trump’s platform is to impose tariffs on foreign countries will devastate the U.S. Economy, but this country cannot tolerate another 4 years of Trump’s incompetence.
Jack Smith will be presenting new substantial evidence in the January 6 case on Thursday.
https://www.cnn.com/2024/09/24/politics/special-counsel-trump-substantial-evidence
LOL! Sexual Predator Trump Calls Himself “Protector” of Women
https://www.esquire.com/news-politics/politics/a62348637/trump-rally-protector-women/
Trump mixes up the name of Charlottesville, Virginia, during his speech in Georgia
https://apnews.com/article/trump-charlottesville-flub-georgia-economic-speech-a9bc57710091fc0194bc072229d146f4
If Biden had done this, the “mainstream media” would have dozens of articles calling for him to step aside!
Trump scapegoats migrants again at Georgia event meant to discuss economy
https://www.theguardian.com/us-news/2024/sep/24/election-trump-georgia-rally
I’m in agreement with Rachel Maddow. Trump isn’t a normal candidate and the media coverage should reflect that.
https://www.msnbc.com/rachel-maddow-show/maddowblog/trump-campaign-chaos-harris-comparisons-rcna172489
The latest thing that Trump is hawking is $100,000 watches.
He’s also selling “Trump Coins” a silver medallion with his face on one side and his signature on the White House on the back.
https://www.cnn.com/2024/09/26/politics/trump-watches/index.html