I have a quick question, what is given as one of the main reasons the Great Depression was so bad? Trade barriers between countries. <br />n<br />n<blockquote>"Any student of history will tell you that one of the most significant mistakes of the 1930s is when the U.S. embraced protectionism," Lane said. "It had a cascading effect that ground world trade almost to a halt, and turned a one-year recession into the Great Depression."</blockquote><br />n<br />nNow we are seeing the same thing start repeating itself.<br />n<br />n<a href="">'Buy American' Rider Sparks Trade Debate</a><br />n<br />n<blockquote>The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out by the $819 billion economic package.<br />n<br />nA Senate version, yet to be acted upon, goes further, requiring, with few exceptions, that all stimulus-funded projects use only American-made equipment and goods.<br />n<br />nProponents of expanding the "Buy American" provisions enacted during the Great Depression, including steel and iron manufacturers and labor unions, argue that it is the only way to ensure that the stimulus creates jobs at home and not overseas.<br />n<br />nOpponents, including some of the biggest blue-chip names in American industry, say it amounts to a declaration of war against free trade. That, they say, could spark retaliation from abroad against U.S. companies and exacerbate the global financial crisis. </blockquote><br />n<br />nYou can wrap this "Buy American" up in all the flags and patriotism you want, it's still a trade barrier and could and will cause retaliation which could really hurt us now like it did during the Great Depression. There is an old saying by George Santayana, "Those who cannot learn from history are doomed to repeat it." It looks like our politicians are dooming us to repeat history. [sarcasm]It's going to be a fun ride, isn't it?[/sarcasm]