8:41 pm on November 21, 2008 Email Llewellyn H. Rockwell, Jr.
I would look for U.S auto manufacturers, particularly GM ,to push for protective tariffs to "save American jobs." It won't work, of course. The only question is, will Congress be taken in? My guess is, yes.
"Suppose I were a member of Congress. And suppose I were an idiot. But I repeat myself." - Sam Clemens (possibly paraphrased)
The Smoot-Hawley tariff is, of course ,widely cited, even by so-called “mainstream” economists & historians, as an exacerbating factor to the 1930s depression.
Look for overseas auto manufacturers to increase their U.S. footprint and continue engineering innovation while U.S. manufacturers continue to live in the past, and attempt to peddle overpriced, obsolete pickup trucks repackaged as “SUVs.”
BTW, I love my 1989 Ford F150 (bought new for cash – recently repainted, 237,000 miles on original engine) , and also my 2006 BMW 325i.
Wir fahren auf der Autobahn…
Mass transit is for sheep (on their way to slaughter).