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NewEnglandAutumn

(200 posts)
Tue Nov 12, 2024, 07:48 PM Nov 12

The downward spiral of the economy has already begun

-Gas is up over 10 cents a gallon where I live
-My son was laid off due to a massive and sudden drop in orders this week (he is a machinist)
-Hours cut where I work by quite a bit

8 replies = new reply since forum marked as read
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The downward spiral of the economy has already begun (Original Post) NewEnglandAutumn Nov 12 OP
It takes almost nothing to set off a recession. Klarkashton Nov 12 #1
Great Depression was fueled by, worsened by tariff wars that spiraled volume of international trade drastically down Bernardo de La Paz Nov 12 #8
I guess we need gas pump stickers with a pic of Trump Emile Nov 12 #2
No, "I fix'd it!" or "He will fix it!" Nimble_Idea Nov 12 #3
Wow, a machinist laid off. jeffreyi Nov 12 #4
I think people are going to be very.... Lovie777 Nov 12 #5
Gas has continued to drop in price where I am. onenote Nov 12 #6
There is a problem Macrophylla Nov 12 #7

Klarkashton

(2,285 posts)
1. It takes almost nothing to set off a recession.
Tue Nov 12, 2024, 07:50 PM
Nov 12

It's all a very delicate balance. Start with "a radical change of the government" and it all goes to shit.

Bernardo de La Paz

(51,252 posts)
8. Great Depression was fueled by, worsened by tariff wars that spiraled volume of international trade drastically down
Tue Nov 12, 2024, 08:35 PM
Nov 12
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff,[1] was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods.[2]

The tariffs under the act, excluding duty-free imports, were the second highest in United States history, exceeded by only the Tariff of 1828.[3] The Act prompted retaliatory tariffs by many other countries.[4] The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Great Depression.[5] Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.[6]


https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act

Emile

(30,798 posts)
2. I guess we need gas pump stickers with a pic of Trump
Tue Nov 12, 2024, 08:01 PM
Nov 12

pointing at the price on the pump saying, I did that!

Lovie777

(15,234 posts)
5. I think people are going to be very....
Tue Nov 12, 2024, 08:08 PM
Nov 12

“conservative” in spending this last year of democracy’s holiday.

Macrophylla

(150 posts)
7. There is a problem
Tue Nov 12, 2024, 08:28 PM
Nov 12

With auto sales. This has been brewing for a while. Inventory of unsold vehicles is huge. Ford and Dodge trucks and Jeeps over 180 days of unsold Inventory in some cases.
Assembly lines will be shut down.
Sawmills are shutting down because the demand for lumber has fallen.
This was in the cards regardless who won the election. Democrats should exploit this and lay it all on Trumps feet. Sure he did cause it but ask yourself, based on this election....DO YOU REALLY THINK THE AMERICAN PEOPLE WOULD UNDERSTAND THAT?
NO they will not

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