A troubling lesson from the 1930s suggests Trump's trade war will damage the world for decades

[jpak]

https://www.sfgate.com/technology/businessinsider/article/A-troubling-lesson-from-the-1930s-suggests-13076327.php

LONDON — The impacts of Donald Trump's trade war could be felt through the global economy for decades to come, if patterns followed during the last true trade conflict in the 1930s manifest themselves in 2018, according to research from Oxford Economics.

Writing on Friday, Adam Slater, a lead economist at the research house, argued that the impacts of rising protectionism during the period between 1929 and 1932 — when the impacts of the Great Depression led economies to turn inwards — lasted until at least the 1960s.

"The effects on world trade lasted decades," Slater wrote to clients. "The ratio of world trade to world GDP fell from 19% to 10% from 1929 to 1932 and remained depressed for years afterwards – even in the late 1960s this ratio was only modestly higher than in 1929."

<snip>

Not only did the depression cause world trade volumes to plunge, it also fundamentally shifted the interactions between nations when trading with one another, something that could happen once more during Trump's trade war.

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[world wide wally]

1. Another wish from Putin's bucket list fulfilled

[RKP5637]

3. Yep, Trump is Putin's best ally. How long is this huckster going to continue. Hurry up Mueller. n/t

[RKP5637]

2. Trump has no idea how any of this works. He thinks like he's making his sleazy real estate deals. nt

[Wellstone ruled]

4. Ali Velshi on MSNBC

did a comparison to what our Congress did in late 1929 as to Taxes and Tariffs as well as legislation promoting Isolationism. Dead Nuts On my Friend. Again it was a Senator from Utah who carried the water that set our Nation Into a Depression. Smoot,the name no one wants to here in Utah.

[roamer65]

5. Currency war, trade war...world war.

To quote trends forecaster Gerald Celente.