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Started By
Message
re: Jim Cramer predicts a historic Black Monday if Trump does nothing to ameliorate the damage
Posted on 4/5/25 at 4:53 pm to teke184
Posted on 4/5/25 at 4:53 pm to teke184
quote:
Dumbfrick, the infographic you posted said that Smoot Hawley caused the depression. Not “made it worse.”
It made it worse.
Yes, I said that from the start. Are you confused?
Universally agreed that it made it much worse and possibly prolonged it.
quote:
The Great Depression began in the United States as an ordinary recession in the summer of 1929. The downturn became markedly worse, however, in late 1929 and continued until early 1933. Real output and prices fell precipitously. Between the peak and the trough of the downturn, industrial production in the United States declined 47 percent and real gross domestic product (GDP) fell 30 percent.
quote:
The negative impacts of the Act led to its repeal in 1934 through the Reciprocal Trade Agreements Act,
This post was edited on 4/5/25 at 4:56 pm
1
Posted on 4/5/25 at 4:57 pm to ZZ Pop
quote:
Dang, what did Day Traders ever do to you ?
I don't care if people day trade
I just also don't care if they get completely wiped out in the process
I'm more interested in a strong economy than some random figs day trading
Posted on 4/5/25 at 4:57 pm to Powerman
Poweranger! Love it.
Posted on 4/5/25 at 4:58 pm to teke184
The Great Depression started with the stock market crash in October 1929, nearly eight months before Smoot-Hawley was passed in June 1930. It’s factually incorrect to claim the act caused the Depression—economic indicators like falling demand, financial instability, and bank failures were already driving the downturn, as noted by economists like Milton Friedman.
Its impact on the economy was overstated—trade was less than 10% of GNP, and domestic issues like bank failures were the real drivers of the downturn.
Far from worsening the crisis, Smoot-Hawley helped the U.S. recover by protecting American industries and jobs from foreign competition, encouraging self-sufficiency during a global trade collapse. The economic recovery that began in 1933, while the tariff was still in place, shows that Smoot-Hawley provided a foundation for domestic industries to rebuild, even if it’s rarely given credit for this role.
Its impact on the economy was overstated—trade was less than 10% of GNP, and domestic issues like bank failures were the real drivers of the downturn.
Far from worsening the crisis, Smoot-Hawley helped the U.S. recover by protecting American industries and jobs from foreign competition, encouraging self-sufficiency during a global trade collapse. The economic recovery that began in 1933, while the tariff was still in place, shows that Smoot-Hawley provided a foundation for domestic industries to rebuild, even if it’s rarely given credit for this role.
Posted on 4/5/25 at 5:00 pm to Jbird
Only took you 12 years to come up with a new nickname but I'll chalk it up to progress
Posted on 4/5/25 at 5:00 pm to Powerman
Man I dgaf about a power fig!
Posted on 4/5/25 at 5:01 pm to ZZ Pop
This guy still doing this schtick?
Posted on 4/5/25 at 5:09 pm to ZZ Pop
Sounds more like Cosmo Kramer
Posted on 4/5/25 at 5:11 pm to MrLSU
quote:
The Great Depression started with the stock market crash in October 1929, nearly eight months before Smoot-Hawley was passed in June 1930. It’s factually incorrect to claim the act caused the Depression—
Except for the fact that the depression took a deep dive right after Smoot Hawley was passed and miraculously got a little better after the Smoot Hawley Act was gone.
Posted on 4/5/25 at 5:12 pm to ZZ Pop
Sounds like a buying opportunity to me
Posted on 4/5/25 at 5:17 pm to OchoDedos
quote:
A president Harris would “absolutely, absolutely, no doubt about it” be good for the stock market and American business, Cramer said. MarketWatch July 2024
I’m old enough to remember when Dems thought tariffs were cool:
Posted on 4/5/25 at 5:29 pm to RogerTheShrubber
The depression started with the stock market crash in 10/2029. Smoot-Hawley was passed by congress in 1930. It went into effect in 1931. It did not cause the depression. Unemployment remained high throughout the 1930s despite FDR programs. WW2 got us out of it and we had near monopolistic control of international trade and manufacturing through the 1950s and early 1960s, particularly steel and aluminum.
Posted on 4/5/25 at 5:31 pm to Deplorableinohio
quote:
It did not cause the depression.
It deepened the depression.
Strangely things improved a bit when S-H was killed.
Posted on 4/5/25 at 5:31 pm to Hangit
quote:
Smoot–Hawley Tariff Act, enacted 8 months after the stock market crash of 1929, did not cause the stock market crash of 1929.
Early tariff acts in the 1920s probably did contribute to the crash in ‘29. Smoot-Hawley was so destructive because the GOP had already gotten it to a point that trade partners could barely tolerate then they passed something that forced massive responses from the world that further suffocated our industries unable to export any goods.
Posted on 4/5/25 at 5:34 pm to ZZ Pop
If Cramer predicts a drop then it will be a huge rise…..
One of the best performing funds was the “Opposite Cramer Fund”. It bought opposite cramers recommendations and did great……
One of the best performing funds was the “Opposite Cramer Fund”. It bought opposite cramers recommendations and did great……
Posted on 4/5/25 at 5:35 pm to ZZ Pop
I don’t fully support the tariffs, but Jim Cramer saying that Monday will be a bloodbath is the biggest buy sign I have seen during this debacle.
I watch CNBC every morning in part just to laugh at that guy. He is a grade a moron.
I watch CNBC every morning in part just to laugh at that guy. He is a grade a moron.
Posted on 4/5/25 at 5:39 pm to RogerTheShrubber
quote:
Reciprocal Trade Agreements Act,
The RTAA allowed the president to lower tariffs in exchange for equivalent tariff reductions from foreign nations.
aka Reciprocity
Posted on 4/5/25 at 5:40 pm to Zgeo
quote:
One of the best performing funds was the “Opposite Cramer Fund”. It bought opposite cramers recommendations and did great……
Actually it only lasted a few months until folding if I am thinking of the same etf.
He's wrong, a lot, but just going opposite of everything he says will lose you money.
Posted on 4/5/25 at 5:55 pm to ZZ Pop
If Cramer predicts a collapse then the market is about to take off. 
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