THE SAPIENT SPARROW: conservatism for commoners

"What has always made the State a hell on earth has been precisely that man has tried to make it his heaven."–Holderlin

BITING THE HAND THAT BUYS OUR DEBT

The protectionist tariff aimed at the Chinese tire industry by the Obama administration has not received a whole lot of attention. Here are two links where you can read about the Chinese reaction, (not a very positive one). If this is how we treat our creditors, no wonder no one wants to buy our debt!! There is also a good WSJ editorial here.

For those of you who would like to know more about how these kinds of tariffs affect real-life economies, especially those that are financially fragile, I recommend two books. The Forgotten Man by Amity Shlaes is a history of the Great Depression. The entire book is very good, but if you simply want to understand how the Smoot-Hawley Tariff negatively impacted the economy, she includes plenty of information on it. (Smoot-Hawley is a very good example of a protectionist tariff). Economics in One Lesson by Henry Hazlitt devotes the entirety of Chapter XI to protectionist tariffs and who really benefits from them.

Information is power; educate yourself!!

Advertisements

Filed under: congress, economy, INTERNATIONAL RESPONSE, LEGISLATION, POTUS, U.S. GOVERNMENT, , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: