Word: tariff
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Dates: during 2000-2009
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...Smoot-Hawley tariff bill signed by President Herbert Hoover is attributed by to President Franklin Roosevelt and - oh, yes - referred to by as the "Hoot-Smalley" bill...
...Great Depression started out with a stock market bubble that burst in 1929, as the world was going into a nice recession. Then the government started making mistakes. They passed the Smoot-Hawley tariff, they raised taxes, they became very protectionist, and the next thing you know we had the Great Depression. In Europe they made solvent banks take over insolvent banks with the result that both [kinds of] banks failed. This has all been done before. History is - I don't like saying it, but it's repeating itself. Governments are making the same old mistakes...
...Mussolini's march on Rome and Hitler's attempted putsch in Munich. By the time of the Depression, in 1929, the fascists had been in power for years, and the Nazis had been growing in strength for most of the decade. Furthermore, Gingrich's description of the Smoot-Hawley Tariff seems to imply it was part of F.D.R.'s New Deal. Smoot and Hawley were Republicans, and the act that bears their names was passed in 1930, during the Hoover Administration. If Gingrich can't get his facts straight about the last century, why should we listen to his suggestions...
...have been spared,” he said. Lawrence, however, also pointed out that protectionism is not a viable response for containing the fallout. “If we think back to the 1930’s, I think there’s little doubt that dramatic increases in tariff in the United States made that depression much deeper, and left a legacy that took us decades to remove,” he said. Lawrence added that despite the depth of the global recession, he remained optimistic about the decisions that national leaders have made about trade...
...Mussolini's march on Rome and Hitler's attempted putsch in Munich. By the time of the Depression, in 1929, the fascists had been in power for years, and the Nazis had been growing in strength for most of the decade. Furthermore, Gingrich's description of the Smoot-Hawley Tariff seems to imply it was part of F.D.R.'s New Deal. Smoot and Hawley were Republicans, and the act that bears their names was passed in 1930, during the Hoover Administration. If Gingrich can't get his facts straight about the last century, why should we listen to his suggestions...