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View Diary: A Failed Experiment (136 comments)

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  •  Nixon import tarriffs amazing economy improvement (5+ / 0-)

    US was always a protectionist nation until Roosevelt loosened up tariffs.

    Nixon slapped a tariff on imports, 10%. It gave our trading partners a sour sip of their own medicine. Suddenly Germany sold 30% less to America. Germany lost jobs. So did other European nations. They were selling much less to America.  

    Our tired economy perked up. Export sales jumped 10%. The next year they were up 33%. The GDP growth went from 3.2% to 7.3% in only 6 months. In another three months it was closer to 10%. Less than a year later, it was almost 11%. Nixon had turned things around. Or so it seemed.

    page 224 to 225 "Worse Than You Think" by Keith Quincy.

    Then Nixon's troubles began and he abandoned this approach.

    US is the only empire in history to give away their markets to maintain their position. Foreigners now own 20% of our country and their percentage is growing. Some will see the good news in their investment, but then corporate profits go outside the country. Another financial game rather than running good companies and having good jobs.

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