Steve Hanke’s Tariff Tsunami: When History Repeats, It Usually Trips

Through the frostbitten haze of modern folly, economist Steve Hanke peers sharply and mutters—“The tariffs, oh these tariffs! Like that ancient, infamous Smoot-Hawley curse, they are a dark symphony of economic self-sabotage, the dumbest tale ever told in the theater of finance.” 📉🎭

Echoes of a Dusty Market Crash: Hanke’s Bitter Warning

Amid the chaotic twittering of the digital realm called X, where economists duel with keyboard fervor, our solemn prophet Steve Hanke wields his wisdom like a frostbitten sabre. With no gloves on, he blasted, “My old friend David Stockman whispers dark tales—Trump’s tariffs are about to cram $500 billion like stones into the machinery of American enterprise.”

He bellowed in the same digital agora: “TARIFFS = ECONOMIC WRECKING BALL” (because why whisper when you can yell in caps?). Then, among the flickering glow of his screen, he lamented how today’s policies waltz dangerously close to the 1930s abyss, a time when money supply wasn’t just tight—it was a vanished ghost. The Great Depression’s opening act. “The stage was set by Smoot-Hawley’s grim overture,” Hanke intoned.

In his poetic grumble:

“Ah, the cruel twist: March’s Smoot-Hawley decree begat July’s disaster. The markets—the hapless dancers—plummeted, shedding 83% of their grandeur by June 1932. And now, dear friends, if history’s a drunken bard, we’re invited to waltz once more into the tempest.”

The Trump troupe, Hanke suggests, seems blissfully unaware, perhaps even cheerfully oblivious, as advisors stumble like actors missing their cues. Trump’s cavalier shrug at looming calamity—“Just a blip,” he says—ignores the stubborn lessons written in dust and desperation.

“Seen this rerun too many times,” Hanke sighs, a hint of exasperation coloring his tone. “No one around Trump reads the script; the lead improvises recklessly. If the act doesn’t change, the curtain will fall hard on us all … Diplomatically, this is the dumbest scene in economic theater I’ve ever witnessed. Enemy lists growing longer by the day, bravo! 👏🇺🇸”

Economist Steve Hanke

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2025-04-28 07:01