re: #551 quickjustice

Read Amity Shlaes’s “The Forgotten Man”, a history of the Great Depression. She discusses all of the mistakes made by Hoover and Roosevelt in mismanaging the Great Depression. Hoover’s signature of the Smoot Hawley protectionist tariff was a major blunder. The Buy American provision in the current stimulus are similar in character. They’ll ignite a trade war that will make things worse.

In the short term, the Federal Reserve does need to combat deflation, but this stimulus is a reckless shotgun.

Great book! I saw an interview with a guy who’s written a book called “New Deal Raw Deal”. It sounds similar to Amity Schlaes’ book. Have you heard about/read it yet?