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▼ Show Notes

















This episode addresses a timely topic relative to our economy. The U.S. is in a trade war with China and other nations at present. There is a clear precedent in our history for the impact of the strategy that is currently employed by the Trump administration.
The Great Depression
We have to go back to the Great Depression era to see the impact of a trade war. Congress passed The Smoot-Hawley Tariff Act in 1930. I shudder when I hear President Trump’s well-intended aspiration to achieve fairness in our trade relationships. This was the goal of our government in 1930 when this legislation was approved.
The Smoot-Hawley Tariff Act
The result of this action in 1930 was to both worsen and prolong the Great Depression. The fear and uncertainty associated with the Trump Administration’s recent actions could cripple the economy in ways that aren’t yet apparent. Our economy relies on a free market with limited uncertainty. When business leaders feel the economic earth move, they tend to retreat to safety causing the economy to contract.
I describe this environment in this week’s episode. God is sovereign over our lives, our economy, and our government. We can rest in Him while recognizing the risks of this Administration’s policies.
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“The U.S. is in a trade war with China and other nations.  There is a clear precedent in our history for the impact of the strategy that is currently employed by the Trump administration.”
John Warren

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