Saturday, September 22, 2007

Smoot-Hawley and the Iraq War

At the beginning of the Depression in 1930 the Congress passed the Smoot-Hawley tariff act and President Hoover signed it into law even though 1,028 economists wrote that the act would be a disaster for the country. The experts were right of course and Smoot-Hawley just made things exponentially worse.

I can't help but see a parallel to today and the War on Terror. Some people may not want to acknowledge it but the fight against Radical Islamics is only just beginning. We still have a long way to go yet some in Congress argue for the almost immediate removal of our troops from Iraq. Almost every military expert says that such a move will just make things worse. Yet there are still those in Congress (and some running for President) that argue for just such a move. I can only imagine that these people either think they know better than the experts (like how Hoover and Congress in 1930 thought they knew better than all those economists) or they are plain pandering to the fringes of the Democratic Party (don't taser me bro).

Just a random observation to toss out there on a Saturday while I wait for the college football games to start.

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