I can't stand the revisionist history happening with The Great Depression in the 1930's and Tariffs. The number of shitskin posts I've seen in the last 48 hours about how "Tariffs caused The Great Depression!" that are patently and demonstratively false. Even for someone who thinks this current tact is retarded.
Hoover put those tariffs in AFTER the depression began to staunch the bleed. Not before. What ACUTALLY happened was:
- 1918 Flu Pandemic
- 1919-1927 - Massive government spending to stimulate and grow businesses and the economy after the pandemic. Causing an artificially inflated economy and businesses spending money they didn't actually have in equity or value. That was why the 20's were "roaring".
- 1928- The debt businesses were under began to catch up with them. The economy was as falsely inflated as it could be and they could no longer service the debt. The crash begins.
- 1930 - Hoover implements the Smoot-Hawley tariffs.
Whats eye opening here, Kiwis. This pattern is repeating.
2020- Pandemic
2021 - Early 2025 Massive government spending to stimulate and grow businesses and the economy after the pandemic. Causing an artificially inflated economy and businesses spending money they don't have in equity or value.
Also, The years before the 1928 crash saw 3 Republican presidents, all of whom were very anti regulation and free market friendly. It didn't help at all, and after the depression, it was a loooong time before we let someone like that run the place again.