Larger #funding cuts would have even greater effects. A 50% reduction in funding would lower #GDP nearly 7.6%, the researchers estimate, & a 75% cut would reduce it 11.3% — a larger decline than in any recession since the #GreatDepression.

@KimSJ

#TrumpeanTradeWars #TrumpTariffs
#EconomicPolicy
#CEUM

(3/n)

...usher in a #GreatDepression2.0, if they cannot be repudiated rather sooner than later. 4 years, as during the #GreatDepression, will be ruinous for the global and the #US #economy:

https://mastodon.social/@HistoPol/114270346663616915

The probably even more impactful strategy is deepening economic integration between Europe and the Americas, including a #NATO based #DefenseUnion--w/o the #US while #Trump...

Acc/to Olu Sonola, an economist at Fitch Ratings, the average #US #tariff rate on all imports will be ~22%, a rate last seen around 1910 [you, know what led up to the #GreatDepression]. “This is a game changer, not only for the US economy but for the global #economy,” Sonola said in a statement. “Many countries will likely end up in a #recession.”

After delivering a potted #economic history of the country in which he bizarrely claimed that the #GreatDepression would have been avoided if high tariffs had been in place, #Trump announced that “reciprocal tariffs” would go into effect on April 9th, w/rates of 34% on goods imported from #China, 24% on #Japan, & 20% on the #EU. Some of the highest rates were reserved for export-led developing countries in #Asia: 46% on #Vietnam, 48% on #Laos, & 49% on #Cambodia.
#economy #recession #geopolitics

@Nonilex
#TrumpTariffs #TrumpeanTradewars

*IMPORTANT #GreatDepression2.0*

If you haven't studied economics or haven't lived through the 1930's, I strongly recommend listening to today's #TheIntelligence #Podcast of #TheEconomist about the disastrous #SmootHawleyTariffAct of 1930.

It has been done before and the results boosted the #GreatDepression, which was milder in very few nations, such as Japan.

To keep the picture: the #TrumpTariffs are #MacroeconomicSepuku:

https://mastodon.social/@HistoPol/114270047650574975

@DemocracyMattersALot
Eye currently predict that without a major change in direction, the current Trump regime will usher in an economic depression that will make the US Republican Great Depression of 1929 look like a picnic.
#USPolitics #GreatDepression #Trump #TuckersBalls

I think the #US is closer to a #revolutionary situation today than it's ever been. & this is a country that went through the #GreatDepression, the turbulent times of the 60s, and the 2008 #recession. We're not there yet, but the clock is ticking. Get involved however you can.