This list is right about those three times leading to economic catastrophe (1828 also caused a recession). But it’s missing all the other times mass tariffs caused depressions in the US: 1816, 1837, and 1890 resulted in depressions from 1816-20, 1836-43, and 1893-95, respectively.
The history of the US is the history of devastating cycles of economic depression until the FDIC, the Federal Reserve, monetary policy, fiscal stimulus, banking regulation, and other economic tools moderated the boom-and-bust cycle that dominated the first half of US history. These were the lessons of that era. WW2 may have lifted the US out of one depression, but it was these tools that kept future ones at bay.
Oh yeah, and because Congress wrested control of tariff authority from the executive branch and then used them sparingly until 2025.
FYI, a US depression will be a global depression, and the effects will be felt worse in many countries.
Edit: I forgot which channel I was in, lol. Oh well.
This list is right about those three times leading to economic catastrophe (1828 also caused a recession). But it’s missing all the other times mass tariffs caused depressions in the US: 1816, 1837, and 1890 resulted in depressions from 1816-20, 1836-43, and 1893-95, respectively.
The history of the US is the history of devastating cycles of economic depression until the FDIC, the Federal Reserve, monetary policy, fiscal stimulus, banking regulation, and other economic tools moderated the boom-and-bust cycle that dominated the first half of US history. These were the lessons of that era. WW2 may have lifted the US out of one depression, but it was these tools that kept future ones at bay.
Oh yeah, and because Congress wrested control of tariff authority from the executive branch and then used them sparingly until 2025.
FYI, a US depression will be a global depression, and the effects will be felt worse in many countries.
Edit: I forgot which channel I was in, lol. Oh well.
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