Thomas Sowell is one of the greatest living economists in world history.
And his evisceration of President Donald Trump’s trade war is proof that we are blessed to still have this great man around.
Here is what he told Reason Magazine about Trump’s global trade crusade:
Oh my gosh, an utter disaster. I happen to believe that the Smoot-Hawley tariffs had more to do with setting off the Great Depression of the 1930s than the stock market crash. Unemployment never reached double digits in any of the 12 months that followed the crash of October 1929, but it hit double digits within six months of passage of Smoot-Hawley, and stayed there for a decade.
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It’s pathetic. The very phrase “trade surpluses” gives half a story. There are countries that supply mainly goods, physical goods, and there are other things like services that other countries provide, and the United States gets a lot of money from providing services. To talk about one part of the trading and ignore the other part fails to understand that money is money no matter whether it’s from goods or services.
When you set off a trade war, like any other war, you have no idea how that’s going to end. You’re going to be blindsided by all kinds of consequences. You do not make America great again by raising the price to Americans, which is what a tariff does.
Now, imagine if Milton Friedman or Murray Rothbard were still with us today…
Some thought the 99% would not resist tyranny before the global economy collapses, but the protests in France, Belgium, and Holland show that people are waking up.
Nothing is going to change until Americans start getting out into the streets and breaking windows.
Americans shouldn’t embrace the police state and then turn around and be surprised that tyranny sucks.
The US government is no longer legit. Everything is illegal, but the government and illegal aliens don’t obey the law. The only difference between the government and the mafia today is that the government has a flag in front of their offices.
Some ways to resist tyranny are to vote, not pay taxes, and to withdraw from the system.
The government doesn’t care if you vote or not because they will do what they want anyway.
The government doesn’t care if you pay taxes because they can just print more money until the USA looks like Zimbabwe.
Another way to resist tyranny is to ignore the state and encourage others to do the same. What if there was a war and no one showed up to fight it? Encourage government workers to quit and let them know that government workers are tools of the elites and enemies of the 99%. Don’t get business licenses, birth certificates, Social Security cards, passports, and driver licenses. Drop out. Go Galt. Be a nameless, stateless nomad.
Nobody rules if no one obeys.
It’s going to blow. Be ready.
Wake up.
Think.
Pass the word.