Donald Trump could very likely be sending the United States into another great depression.
And I know that's kind of hard to hear.
After all, we just got the news a few days ago that in April the economy added I think
what, another 139 or 169, somewhere around there, new jobs.
Unemployment fell 3.9%.
That would indicate that the economy at least in terms of employment only, is doing better
right?
So how in the world could it be that we're headed towards another recession/depression?
Well, don't ask me.
How about you ask the 1100 economists, who this week sent a letter to the president of
the United States warning him that his trade wars that he has going on right now, are repeating
the exact same mistakes from the 1930s that made the great depression so much worse.
And of those more that 1100 economists, 14 of them have won Nobel prizes, so I'm going
to go ahead and assume these guys know what the hell they're talking about.
And before you say that this is just a bunch of liberal bull crap, how about you consider
the fact that this letter from 1100 economists was actually put together by a conservative
organization.
It was the National Taxpayers Union.
Conservatives, they're the ones telling us that Donald Trump is repeating the same mistakes
of the 1930s that made the great depression so much worse and he's doing it again today.
One, either because he's stupid and doesn't understand or two, because he simply doesn't
care.
In 1930 there was something called the Smoot–Hawley Act which enacted a bunch of tariffs in the
United States.
They were trying to fix the great depression but according to researchers these tariffs
actually made things so much worse.
In the '30s before this act was passed, the Smoot–Hawley, economists in the country
got together, sent a letter to Congress in 1930 telling them exactly what was going to
happen.
If you pass this act you're going to make the depression worse.
People are going to lose their jobs.
You're going to harm farmers.
You're going to harm industry.
You're going to make things so much worse in this country.
And they didn't listen to the economists.
Those lawmakers in the '30s thought they knew better than people whose job it is to study
what happens to the economy.
So in the new letter today, 2018 they actually repeated the same warnings and in fact quoted
that letter from 1930s that they sent and said, nothing has changed.
These things will still happen if Donald Trump continues this trade war with other countries.
Farmers in the United States today are already starting to feel the squeeze of these tariffs.
Money is being lost every single day.
Large, substantial amounts of money.
Millions, upon millions, upon millions of dollars from the United States economy and
Trump shows no signs of stopping.
And what's even worse is that his idiotic followers think that he's doing this because
he's a great businessman.
He understands what's going on.
He knows how to do this.
Well, no.
It's one thing when you're a businessman, and move into an area bully everybody out
and you know, get a good price for the building you want to put up.
It's another to attempt to bully countries that have more people, more products and more
money than you do.
Politics, goverment is not a business and you cannot run it as such because when you
do, you lose every single time and that's what these 1100 economists are trying to warn
Donald Trump today.
And I can promise you this.
Having seen what Donald Trump does when people who are smarter than him tell him what to
do, I have no doubt in my mind that Donald Trump is going to ignore this letter and continue
on with his disastrous trade war, regardless of the negative economic impacts that it has
here in the United States.