Worried by the US-China Trade War? Probably Not Worried Enough
By Simon Paige on ALTCOIN MAGAZINE
Worried by the US-China trade war? Probably not worried enough. The Smoot-Hawley Tariff Act caused the 1929 Stock Market Crash and Great Depression. (See Nathan Lewis’s excellent chapter on the 1930s in Gold the Once and Future Money.)
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Trade tariffs have historically been a sign of failing economies and of recession or worse to come. There is no reason to believe this time will be different.