"Prior to America's rise to becoming a first world nation? Seems like you're fist ------- yourself with such pathetic --------."
I see we've never seen the inside of an economics classroom, eh? And whatever the US was prior to Smoot-Hawley; developing world, first world, whatever, one thing is for sure. Smoot-Hawley made the country --------. You can probably find a fringe economist out there who will tell you that Smoot-Hawley was a good thing, but most will look at him or her sideways, understanding that SMH prolonged the effects of the Great Depression.
Maybe you can take comfort in the fact that it was republicans who sponsored the legislation.
"Raising tariffs won't cut off America like it did in 1933."
Is that what you're economics professor is telling you?
Mine always told me the opposite.
"All because of high tariffs paying for everything, while encouraging domestic production."
You're not going to be able to provide free college, healthcare, housing and happiness through tariffs. Sorry.
"As in billions in cash, hoarded overseas, not being put to use."
If I make a billion dollars, it's my billion dollars. If I want to watch as it's value declines due to inflation, who are you to tell me what to do. But that's another of your many theoretical. Nobody buries money in their back yard. It's being put to use, probably just not in a way that benefits you.
"The most efficient person is the one who lives paycheck to paycheck, hand to mouth."
So If I make $15k a month and spend $15k a month, I'm a more efficient consumer than someone who makes $3k a month but only spends $2k?
"As though producing and selling one Ferrari is equivalent to the economic activity generated by making selling fifty Fords."
How many people and how much time do you think it takes to make a Ferrari. Now compare that to how many people and how much time it takes to produce 50 fords. 'Nuff said.
"Apparently he has an MBA, but he don't know a thing about economics, though of course that's understandable since an MBA is a business degree, and economics is a social science."
Have you ever taken an economics course? I know Clown hasn't, but there are sometimes signs that maybe you did. Then again, there are more signs that you didn't. Maybe you took econ 101 as a Freshman. Or maybe you took philosophy and studied Marx, and made the incorrect assumption you were studying economics. What I do know beyond any shadow of a doubt is that my economic positions were formed in the classroom. As a result of instruction from professors. And they told me that Smoot-Hawley was bad, that as costs go up demand goes down, and that economics is mostly the study of human behavior. All these things that people like you and clown argue against.