Tuesday, February 10, 2009

For Pat, Smoot-Hawley's Moot

Pat Buchanan bangs the drum for a trade war:
We are about to decide, perhaps for all time, whether we believe in a deepening interdependence leading to one world government, or we restore the independence won for us by the men on Mount Rushmore: Washington, Jefferson, Lincoln and Theodore Roosevelt.

All four were economic nationalists. All would today be decried as protectionists. For all believed that the nation's independence and prosperity hung upon its ability to stand alone in the world, and that foreign goods should never enjoy as privileged access to America's markets as American goods made in the U.S.A....

Those who prattle about the perils of protectionism need to be asked: What has free trade produced, but a bankrupt America that must go hat-in-hand to Beijing to borrow the money to rebuild our crumbling infrastructure? Are we also to use Chinese iron, steel and cement because they, with their Third World wages, will work for less than our fellow Americans?

As for Europe's threat of a trade war, bring it on!

We would eat their lunch.

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