Archive for the ‘smoot-hawley act’ Category

is cnn fake news?

Saturday, January 21st, 2017

after watching trump’s inauguration parade, i’m beginning to suspect that chris cuomo is dedicated to proving that cnn is not a fake news channel. but what about wolf blitzer? how many times has blitzer and the various cnn commentators MISTAKENLY said that donald j. trump is the first person elected president of the united states of america who has never held elected office. but you know. it’s not just cnn that continues to hold to this line. maybe it’s because herbert hoover (of the great depression and hoovervilles-but not hoovering) was actually the first.

the parallels are (potentially) noteworthy. like trump, hoover–the 31st president, had worked on projects around the world. he was a successful businessman. after graduating from from an ivy league school in 1895, 2 decades later he had worked on projects on 4 continents and amassed a fortune worth $4M (in early 20th century dollars). so 2 rich dudes from ivy league schools. one earned his wealth, the other was born into it.

and we contine. hoover was _appointed_ commerce secretary and served under president warren harding and calvin (he tight wad) calvin coolidge. hoover had the misfortune of running for and becoming president after coolidge. he too was a republican. although not a fake populist republican like trump.

herbert hoover took a bad situation (the great depression) and made it worse. how so? by introducing tariffs and raising tariff. loads of them. and you know what happened? countries erected similar barriers against goods from the US. it is universally accepted that hoover’s actions made a bad situation worse. just google or bing the smoot-hawley tarrif act to track the details. or just click here.

ok. so what? the US is not in a recession. the so-called great recession, which was definitely not great, but long, is over and the US economy is seemingly on an upward trajectory. but protectionist measures could add insult to previous injuries. the long and the short of this is–no, donald trump is not the first american elected president who had never previously run for a political office. and technically this is the second time trump has run for president. he previously ran in 2000, but failed to get the nomination from the populist reform party founded by ross perot.