{"id":48075,"date":"2019-08-28T08:43:38","date_gmt":"2019-08-28T13:43:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=48075"},"modified":"2019-08-28T08:43:46","modified_gmt":"2019-08-28T13:43:46","slug":"peter-schiff-compares-trade-war-to-battle-at-little-bighorn","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=48075","title":{"rendered":"Peter Schiff Compares Trade War to \u201cBattle at Little Bighorn\u201d"},"content":{"rendered":"\n

Peter Schiff Compares Trade War to \u201cBattle at Little Bighorn\u201d<\/a><\/strong><\/h3>\n\n\n\n
\"Peter
Photo by\u00a0Gage Skidmore<\/a>\u00a0\u00a0|\u00a0CC BY<\/a>\u00a0| Photoshopped<\/figcaption><\/figure><\/div>\n\n\n\n

Political commentators are increasingly critical of U.S. trade policy, particularly tariffs and the trade war with China. Radio host Peter Schiff<\/a> went so far as to compare U.S. trade policies to General Custer and the Battle of Little Bighorn. Meanwhile, some economic red flags seem to support their worries.<\/strong><\/p>\n\n\n\n

In today\u2019s polarized political climate, there is one topic both the Left and the Right seem to agree on: the trade war with China is eventually going to hurt the average American.<\/p>\n\n\n\n

Radio host Peter Schiff has been hammering on the economic dangers posed by tariffs for months. He even compared the resulting trade war with China to General Custer\u2019s Last Stand.<\/p>\n\n\n\n

\u201cGeneral George Custer met his doom charging into a battle he thought he could win against an opponent he did not understand. Based on [certain] views about the fast-emerging trade war with China, it looks to me that [the U.S.]\u2026is charging into an economic version of Little Bighorn.<\/em><\/p>

\u201cBy mistaking the real nature of international trade, the costs of tariffs, the effects of currency movements, and the supposed ease with which the United States could quickly re-establish itself as a low-cost manufacturer, [the U.S.] risks shredding the safety nets that have undergirded the U.S. economy for decades and plunging us into a war we are ill-equipped to fight.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

Those are strong words. But is Schiff\u2019s Little Bighorn analogy accurate? Are these tariffs pushing the U.S. toward a disastrous economic \u201cambush\u201d that could devastate America\u2019s economy? Let\u2019s look at some economic indicators to see what they point to.<\/p>\n\n\n\n

Currency Manipulation<\/strong><\/p>\n\n\n\n

Marc Chandler, chief market strategist at Bannockburn, agrees that China\u2019s recent currency devaluation<\/a> is part of an escalating trade war: \u201cThis is another step in the currency war. This also makes trade more difficult.\u201d<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Peter Schiff Compares Trade War to \u201cBattle at Little Bighorn\u201d Political commentators are increasingly critical of U.S. trade policy, particularly tariffs and the trade war with China. Radio host Peter Schiff went so far as to compare U.S. trade policies to General Custer and the Battle of Little Bighorn. Meanwhile, some economic red flags seem to support […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[26631,130,1099,2913,963,805,827,21063],"class_list":["post-48075","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-battle-of-little-bighorn","tag-china","tag-currency-devaluation","tag-currency-manipulation","tag-peter-schiff","tag-trade","tag-united-states","tag-us-trade-policy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48075"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48075\/revisions"}],"predecessor-version":[{"id":48076,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48075\/revisions\/48076"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}