Thursday, October 06, 2011

Our Smoot Hawley Moment?

The Great Depression really didn't become "Great" until Hoover - against his better judgement - signed the Smoot Hawley trade bill.  That act started a brutal mercantilist trade war that crushed a slowly recovering global economy.  Now a new generation of fascists are trying to do it again.  God help us.  Because our venal and corrupt Federal Government sure as hell won't.


The Club for Growth has warned Republicans against signing a petition to force a vote on China currency legislation.
The well-funded conservative group has said it will score as a “key vote” any signatures to a discharge petition to force a House vote on legislation meant to punish China for manipulating its currency to lower the price of its exports to the U.S.
The Senate moved forward on China currency legislation this week in a bipartisan vote, and a similar measure was approved by the House last year, with 99 Republicans voting yes.

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