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The Latest Breaking News from Great Depression

Trump tariffs chaos will blow huge hole in US economy and hit UK hard, says IMF in damning report

‘The US effective tariff rate surged past levels reached during the Great Depression,’ say the leading economists

Evening Standard

Tariffs and trade wars: here’s what Trump is failing to learn from the Great Depression

Imagine waking up in 1932, in any US city. Upon ordering your morning coffee, you realise that its price has doubled since last year. This isn’t because of a coffee shortage, but rather because new trade barriers have caused the price of importing Colombian coffee beans to shoot up. The…

The Conversation

The Tariff Madness Isn't Over

Even after Trump paused some of his new tariffs for 90 days, we still have the highest average tariffs in over a century and the biggest trade war since the Great Depression. Real relief will only come if Congress or the courts deny Trump the power to do this.

Reason

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How ‘liberation day’ rout compares with other notorious stock market crises

A swift loss of £4tn from global stock markets has led some to liken Trump’s trade war to 1929 Wall Street crash

The Guardian - UK

Trump says high tariffs may have prevented the Great Depression. History says different

In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen. Reed Smoot thought they had landed on a way to protect American farmers and manufacturers from foreign competition: tariffs

The Independent UK

SNL cold open mocks Trump tariffs with ‘Make America Great Depression Again’ line

‘You know, the depression is going to be so great. We'll be the ones eating the cats and the dogs. That's going to be fun’

The Independent UK

The last time this led to Great Depression, Irish money minister warns

An Irish Cabinet minister has compared US President Donald Trump’s tariff regime to the circumstances which precipitated the Great Depression.

Evening Standard

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Are Trump's tariffs as bad as the Smoot-Hawley Act, which is blamed for deepening the Great Depression? They're actually worse

Those dreading a return to the Smoot Hawley days think this time around could be even worse given the size and scale of Trump's new tariffs.

Fortune

Trump Mocked for Claiming Tariffs Would Have Prevented Great Depression: 'Make Everyone Poor Again'

The internet is mocking President Donald Trump for boasting about his impending tariffs, which experts say will do the opposite of grow the economy.

Latin Times

Trump declares Great Depression wouldn’t have happened with tariffs

Donald Trump has declared that the US could have avoided the Great Depression with tariffs.

The Independent UK

Ferris Bueller scene goes viral as Trump tariffs take effect: ‘Did it work? Anyone?’

Ben Stein plays an economics teacher explaining how tariffs exacerbated the Great Depression

The Independent UK

Americans are taught FDR was the hero of the Great Depression. For one historian, that’s erasure

In a new book, Dana Frank tells stories of the people who ‘made history happen’ through organizing and mutual aid

The Guardian - US

Millions of Mexican Americans were deported in the 1930s. Are we about to repeat this ‘ethnic cleansing’?

Nearly 2 million Mexican Americans, more than half US citizens, were deported without due process during the Great Depression, reminiscent of what is unfolding today

The Guardian - US

AI optimists are behaving like the investors who got burned in the Great Depression and dot-com bubble, Vanguard's chief economist warns

Fortune

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The Independent UK

Why the UK is suddenly so obsessed with smash burgers

Gone are the days of burgers that require structural engineering just to eat them. Patties smashed flat against a searing hot griddle resulting in a crispy, caramelised crust are the latest culinary craze sweeping social media and British restaurants. But how did this great depression-era cooking hack become the trend…

The Conversation

No, the world isn’t heading toward a new Cold War – it’s closer to the grinding world order collapse of the 1930s

The past decade and a half has seen upheaval across the globe. The 2008 financial crisis and its fallout, the COVID-19 pandemic and major regional conflicts in Sudan, the Middle East, Ukraine and elsewhere have left residual uncertainty. Added to this is a tense, growing rivalry between the U.S. and…

The Guardian - US

Biden comparing Trump to Herbert Hoover a ‘cheap shot’, descendant says

Margaret Hoover takes issue with president and rival for using predecessor who battled Great Depression as example of failure

Newcastle Herald

World War II veteran who grew up in Great Depression turns 100

Les Thomson could become Australia's last World War II veteran.

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Fortune

Research shows that grandparents are great personal finance teachers. Here’s what my poppa who became an accountant during the Great Depression tried to teach me about money

Almost a third of grandchildren (30%) say their grandparents passed down "financial and money-saving advice."

Fortune

Wall Street’s Dr. Doom is sounding downright sunny as he predicts a 'short and shallow’ recession or even no recession at all instead of the epic collapse he saw in 2022

Nouriel Roubini saw a “variant of another Great Depression” less than a year ago, but now he’s open to a soft landing without any recession at all.

Bangkok Post

China censors top financial pundit over economy comments

BEIJING: A prominent Chinese financial journalist who has compared the country's economic problems to the Great Depression has been banned from social media.

Fortune

You're about to pay more for orange juice as Florida citrus growers see the smallest crop since the Great Depression

The Department of Agriculture estimates the lowest totals in 90 years.

The Conversation

'Mistaken, misread, misquoted, mislabeled, and mis-spoken' -- what Woody Guthrie wrote about the national debt debate in Congress during the Depression

The debt ceiling debate between the House GOP and President Joe Biden could, if not solved, lead to economic chaos and destruction – so it might seem strangely lighthearted to wonder what a Great Depression-era singer and activist would think about this particular political moment.

Tribune News Service

Editorial: It’s back: Farm bill still crammed with subsidies, pork

Decades ago, when the late Harry Reid was relatively new to the upper chamber, a book arrived at our offices courtesy of the Democratic senator. It was “The Farm Fiasco” by libertarian author James Bovard, a piercing work that critically examined the labyrinth of subsidies, handouts, pork and market distortions…

The Conversation

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

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