How About a Slow And Local Nation?

Because it's the fate of the frivolous primate to relive unheeded history, how soon will the U.S. and the world reaquaint itself with the depths of another depression?

After the 1929 Crash and the subsequent 20% unemployment , the 1930 Smoot- Hawley Tariff Act was passed to create and save jobs for unemployed Americans. The Act raised tariffs on 20,000 imported goods. Business was against the legislation and over 1000 economists signed a petition urging President Herbert Hoover not to sign it. But he did and trade between the U.S. and others plunged 50% between 1930 and 1932 because other countries retaliated.

The prospects of a President Barack Obama pushing protectionism legislation through a rabid democratic Congress is certainly not farfetched. There are all kinds of policies that can kill jobs and exacerbate a financial downturn. Tax code and environmental policies attached to trade agreements can have the same effect as tariff increases. Of course a reduction in worldwide business activity would bring some benefits. The environment would have less destructive pressure put upon it. Also we here in America would have less melamine-laced pet and human food imported from the filthy Chinese.

A slow and local nation approach would bring relief from the dollar chase of of other peoples values.