xcidle521089
Region: US
Saturday 24 October 2026 18:00:48 GMT
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Joanna Huddleston :
would be nice if you mention date reporting I have no idea when events you mention are taking place.
2026-10-24 19:59:06
0
Jackie Sipe :
💙💙💙💙💙God help us
2026-10-24 18:28:34
1
Sherri Crook :
💙💙💙
2026-10-24 18:10:14
1
robertduray617 :
Trump is nuts.
2026-10-24 18:09:19
3
Donald Bodine :
President Trump’s platform emphasizes using aggressive import tariffs to protect domestic industries and boosting American energy production (“drill, baby, drill”) to lower fuel costs and secure economic independence. Trump and his supporters argue that these policies revitalize American manufacturing, prevent dependence on foreign adversaries, and protect the U.S. economy from global shocks. In fact, Trump has publicly argued that broad trade protections and domestic energy dominance act as a shield to prevent economic collapse. However, mainstream economic consensus and financial historians hold a sharply contrasting view on these two policies: 1. Tariffs and the Great Depression Debate The Official Defense Proponents argue that tariffs protect domestic factories, encourage companies to keep supply chains within the U.S., create local jobs, and prevent American capital from flowing into competitor nations like China. The Mainstream Economic Critique Most economists caution that broad or steep tariffs are more likely to risk economic stagnation than prevent it: Higher Consumer Costs: Tariffs are taxes paid by importing businesses in the U.S., not foreign nations. These costs are generally passed down to consumers, driving up inflation. Retaliatory Tariffs: As seen historically, when the U.S. raises import duties, trading partners respond with counter-tariffs. This hurts key American export sectors, including agriculture and technology. Historical Precedent: During the Great Depression, the U.S. passed the Smoot-Hawley Tariff Act (1930) to protect domestic farmers and businesses. Foreign nations retaliated, global trade collapsed by over 60%, and economists widely agree that this deepened and prolonged the Depression rather than preventing it. 2. Securing Oil Supplies and Energy Independence The Official Defense Increasing domestic oil, natural gas, and total energy output reduces foreign energy reliance, lowers fuel prices for U.S. consumers and transport, and keeps input costs low for manufacturers. Lower energy costs can act as a deflationary buffer across the economy. Economic Factors & Limitations While cheap, domestic energy provides a clear benefit t
2026-10-24 19:03:39
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