President-elect Donald Trump has promised to increase the pace of U.S. military shipbuilding. But his pledge to also clamp down on immigration could make it hard for shipyards already facing workforce shortages.
What happened in 1929 was a result of low wages and high unemployment pulling the rug out from under the economy, and therefore it suggests that policy that leads to higher wages and lower unemployment is needed to prevent a repeat.
And the cost of living was simultaneously driven up by an idiotic tariff policy that caused a collapse in global trade. Which directly led to less demand for labor, hence the low wages, hence the high unemployment.
What happened in 1929 was a result of low wages and high unemployment pulling the rug out from under the economy, and therefore it suggests that policy that leads to higher wages and lower unemployment is needed to prevent a repeat.
Sure, that stock market crash that destroyed a whole lot of wealth had nothing to do with it. Nothing at all.
It crashed because people were broke.
That is simply false.
🙄
You’re welcome to roll your eyes, but you made a factually incorrect claim.
People were broke because it crashed.
And the cost of living was simultaneously driven up by an idiotic tariff policy that caused a collapse in global trade. Which directly led to less demand for labor, hence the low wages, hence the high unemployment.