The Next Great Depression, Updated

"While another 12-year depression still isn’t inevitable, the post-financial-crisis policy blunders of Presidents Hoover and Roosevelt are being re-enacted with eerie similitude by the current president.
Hoover devastated America’s exporters by signing the Smoot-Hawley Tariff Act, triggering a devastating trade war. President Obama triggered retaliatory tariffs from Mexico when he appeased his Teamster supporters by blocking Mexican trucks from entering the United States, unilaterally repudiating NAFTA. He also elicited retaliatory tariffs from Canada (other countries will follow) by inserting a “buy American” clause in his “stimulus” bill. As in the 1930s, international trade is collapsing today. Foreigners suddenly find themselves earning fewer dollars to buy American products. Nor can they buy as much American government debt as before." Visit:The Next Great Depression, Updated:

Sue Cirba: Elections have consequences. What baffles me is the way Democrats and sometimes Republicans keep buying the same snake oil from the Democrat Party. Democrat politicians have been immersed in the pro-abortion movement at least since the Clinton administration. They have also been believers in faulty economic policies as Dr. Hendrickson points out. Why anyone who lived through the economic disaster which was the Carter administration would ever vote for a Democrat is beyond my comprehension! I vividly recall as newlyweds, my husband and I frantically rushing to buy a home before the interest rates got so high we would not be able to afford one. Increased taxation only serves to keep the poor in poverty. One has to wonder how many more women will feel pressured to abort their children over dire economic circumstances.