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Culture War Roundup for the week of March 31, 2025

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you may be overestimating what the median person directly has to lose in a crash.

Their job? Clearly America forgot their lesson from Smoot-Hawley and people will have to endure double digit unemployment again to remember it. If we're lucky this one might put Republicans out of power for twenty years again.

Well that probably won't happen but largely because Trump will probably climb part way down at some stage.

Smoot-Hawley was not the problem, the Fed was the problem. Smoot-Hawley didn't even get passed under the year after the great crash, and the slow recovery was due to deflation and monetary policy, not tariffs.

Well that and the fact that central banks have been so laser focused on making sure a depression never happens since the 30s that people don't even think it's possible anymore.