DuganS1

America's Trade Is Based on Protectionism

Smoot-Hawley resulted in retaliatory tariffs, a crash in commodity prices which had very serious ramifications for the agricultural sector (out biggest export sector and a large part of the economy back then), and caused extreme dislocation in the credit markets because the slow down in exports for many European debtor nations made them unable to pay their debts (much of it to the United States). The previous tariffs didn't result in as serious repercussions of the three things listed above and thus aren't good comparisons.

Spinning the Durable Goods Numbers

If you adjust for inflation, the yoy numbers are even worse.

Options Trader: Monday Outlook

N Roubine has been giving us economic doomsday scenarios every month since at least 2005 (when I first noticed Nouriel the permabear on TV). He was dead wrong in 05, 06, and 07. Anyone can predict a recession and be right eventually.... wait, we haven't gone into recession yet.