Subject:
Smoot-Hawley Tariff The Smoot–Hawley Tariff Act of 1930 (P.L. 71-361, sometimes known under its official name, the Tariff Act of 1930) was an act signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels. The ensuing retaliatory tariffs by U.S. trading partners reduced American exports and imports by more than half and according to some views may have contributed to the severity of the Great Depression.
Ensuing laws have virtually eliminated the Act’s most onerous provisions, yet it remains as permanent authority and a vehicle for trade legislation. (Wikipedia Feb 2010)
Arguments for inflation
By John Schroy, on March 13th, 2009 | 
This article is in response to a reader’s comment as to the future of US housing prices. Specifically, whether residential prices will rise 30% by August 2015. I argue that this is essentially a question as to whether the Obama administration will lead to continued deflation or a return of inflation.
I present a series of arguments for predicting inflation and consequently the revival of residential real estate prices by 2015. Basically it comes down to the declining political fortunes of Barack Obama intersecting with the excessive spending habits of the Pelosi-Reid Congress.
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