IT'S OVER: America Just Made the Exact Same Mistake That Started the Great Depression

 

 

The last time America did this, the world economy collapsed. In 1930, President Hoover signed the Smoot-Hawley Tariff Act — raising tariffs on 20,000 imported goods — against the warnings of over 1,000 economists. Canada retaliated first. Then 25 more nations followed. Global trade fell 65%. Unemployment hit 25%. The Great Depression deepened for a decade. 

 

Source:  History Repeats