How can you argue that smoot Hawley tariff act, and raising taxes are the same thing.
Newt is a moron, and why isn't the debate about what the other guy who was talking about the great depression said on meet the press. "Worrying about the deficit, and letting companies fail was what pushed us for a recession, into a depression."
Monday, March 9, 2009
Smoot Hauley and raising taxes
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They aren't? Isn't a tariff a tax?
http://en.wikipedia.org/wiki/Tariff
Some argue that S-H was protectionism. Which lead to other protectionism global.
They are both taxes, and I roll my eyes about them
In reading your wiki reference, I learned that S-H was signed in summer 1929... I always thought it was a response to the stock market drop, but it was actually BEFORE the crash.
SPX held above 666!!! But man, this mkt seems very tired and apathetic. Longs and shorts are all scared to make a stand. I still we are oversold, great sentiment... we just need a CATALYST one way or the other.
Which sectors are due for pop? Oil services, bulk shipping, copper are my choices. What does your thesis say?
I refuse to argue the point. I just see it as Wallstreet crying for the supplysiders.
I'm dying to see the screen...
But mostly to figure out what held us down again... the QQQQ made new lows.I'm still pro Microchips, and have been holding them since last week.
I wonder if they just did a 50% retrace.
and I had perfect opportunity to say "Probing Tony's bottom"
"will we pierce Tony's bottom...
and I didn't do it... I'm a little bummed..
Maybe this will make some sense...
So, what we are looking for is what sectors have not made new lows in the past 10 days.
Which of those sectors, moved first, and in what order did they move.
What we want to see/look for is that same order repeated.
Semiconductors, retail,
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