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January 29, 2009

A STIMULUS REMINDER: “Note to Obey: Hoover massively expanded government spending and signed into law a horrible protectionist piece of legislation known as Smoot-Hawley. At the same time, he used the bully pulpit to hector businesses into keeping wages and prices high which only made it harder for a puffed-up economy to go through a painful but transitory adjustment. Given what you just passed and all the anti-China rhetoric coming from the White House, what exactly are you guys planning on doing differently?”

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