Trump says high tariffs may have prevented the Great Depression. History says different
President Herbert Hoover signed the Smoot-Hawley Tariff Act in 1930, even as many economists warned that the levies would prompt retaliatory tariffs from other countries, which is precisely what happened. The U.S. economy plunged deeper into a devastating financial crisis that it would not pull out of until World War II.
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The Hill
5 minutes ago
- The Hill
Japan marks 80th anniversary of WWII surrender as concern grows about fading memory
TOKYO (AP) — Japan is paying tribute to more than 3 million war dead as the country marks its surrender 80 years ago, ending the World War II, as concern grows about the rapidly fading memories of the tragedy of war and the bitter lessons from the era of Japanese militarism. In a national ceremony Friday at Tokyo's Budokan hall, about 4,500 officials and bereaved families and their descendants from around the country will observe a moment of silence at noon, the time when the then-emperor's surrender speech began on Aug. 15, 1945. Just a block away at Yasukuni Shrine, seen by Asian neighbors as a symbol of militarism, dozens of Japanese rightwing politicians and their supporters came to pray. Prime Minister Shigeru Ishiba stayed away from Yasukuni and sent a religious ornament as a personal gesture instead of praying at the controversial shrine. But Shinjiro Koizumi, the agriculture minister considered as a top candidate to replace the beleaguered prime minister, prayed at the shrine. Koizumi, the son of popular former Prime Minitser Junichiro Koizumi whose Yasukuni visit as a serving leader in 2001 outraged China, is a regular at the shrine. Rightwing lawmakers, including former economic security ministers Sanae Takaichi and Takayuki Kobayashi, as well as governing Liberal Democratic Party heavyweight Koichi Hagiuda, also visited the shrine Friday. The shrine honors convicted war criminals, among about 2.5 million war dead. Victims of Japanese aggression, especially China and the Koreas, see visits to the shrine as a lack of remorse about Japan's wartime past. As the population of wartime generations rapidly decline, Japan faces serious questions on how it should pass on the wartime history to the next generation, as the country has already faced revisionist pushbacks under former Prime Minister Shinzo Abe and his supporters in the 2010s. Since 2013, Japanese prime ministers stopped apologizing to Asian victims, under the precedent set by Abe. Some lawmakers' denial of Japan's military role in massive civilian deaths on Okinawa or the Nanking Massacre have stirred controversy. In an editorial Friday, the Mainichi newspaper noted that Japan's pacifist principle was mostly about staying out of global conflict, rather than thinking how to make peace, and called the country to work together with Asian neighbors as equal partners. 'It's time to show a vision toward 'a world without war' based on the lesson from its own history,' the Mainichi said.
San Francisco Chronicle
5 minutes ago
- San Francisco Chronicle
Japan marks 80th anniversary of WWII surrender as concern grows about fading memory
TOKYO (AP) — Japan is paying tribute to more than 3 million war dead as the country marks its surrender 80 years ago, ending the World War II, as concern grows about the rapidly fading memories of the tragedy of war and the bitter lessons from the era of Japanese militarism. In a national ceremony Friday at Tokyo's Budokan hall, about 4,500 officials and bereaved families and their descendants from around the country will observe a moment of silence at noon, the time when the then-emperor's surrender speech began on Aug. 15, 1945. Just a block away at Yasukuni Shrine, seen by Asian neighbors as a symbol of militarism, dozens of Japanese rightwing politicians and their supporters came to pray. Prime Minister Shigeru Ishiba stayed away from Yasukuni and sent a religious ornament as a personal gesture instead of praying at the controversial shrine. But Shinjiro Koizumi, the agriculture minister considered as a top candidate to replace the beleaguered prime minister, prayed at the shrine. Koizumi, the son of popular former Prime Minitser Junichiro Koizumi whose Yasukuni visit as a serving leader in 2001 outraged China, is a regular at the shrine. Rightwing lawmakers, including former economic security ministers Sanae Takaichi and Takayuki Kobayashi, as well as governing Liberal Democratic Party heavyweight Koichi Hagiuda, also visited the shrine Friday. The shrine honors convicted war criminals, among about 2.5 million war dead. Victims of Japanese aggression, especially China and the Koreas, see visits to the shrine as a lack of remorse about Japan's wartime past. As the population of wartime generations rapidly decline, Japan faces serious questions on how it should pass on the wartime history to the next generation, as the country has already faced revisionist pushbacks under former Prime Minister Shinzo Abe and his supporters in the 2010s. Since 2013, Japanese prime ministers stopped apologizing to Asian victims, under the precedent set by Abe. Some lawmakers' denial of Japan's military role in massive civilian deaths on Okinawa or the Nanking Massacre have stirred controversy. In an editorial Friday, the Mainichi newspaper noted that Japan's pacifist principle was mostly about staying out of global conflict, rather than thinking how to make peace, and called the country to work together with Asian neighbors as equal partners. 'It's time to show a vision toward 'a world without war' based on the lesson from its own history,' the Mainichi said.
Yahoo
17 minutes ago
- Yahoo
Eric Trump Says The Trumps Didn't Have A 'Choice' But To Embrace Crypto After They Were Debanked
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Eric Trump, the executive vice president of The Trump Organization, expressed his 'love' for cryptocurrency on Wednesday, citing his personal experiences with debanking as a major factor. Financial Necessity Led The Trumps To Crypto During an interview with Fox News, Trump said his businesses were abruptly excluded from the financial system as part of a broader campaign against the Trump family and conservatives. 'Capital One stripped 300 bank accounts from me in the middle of the night,' he mentioned. 'This wasn't just happening to the Trumps. This was happening to conservatives all over the country.' Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Trump said he didn't have a 'damn choice' but to pivot toward cryptocurrency. 'It has become the fastest-growing industry anywhere in the world. It has removed a lot of the power from the big banks, who have weaponized their platforms against the American people, and I could not be more proud to be here,' he said. Debanking Allegations The Trump Organization sued Capital One Financial Corp. (NYSE:COF) earlier this year, alleging that the bank closed hundreds of accounts linked to President Donald Trump for politically motivated reasons. Capital One has denied these allegations. In a recent interview, Trump also accused JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) of discriminating against him by refusing to accept large deposits. JPMorgan denied any political motivation in its account closures. Trump Family Bets Big On Crypto The Trumps have been deepening their involvement in the cryptocurrency industry, investing in projects such as American Bitcoin, USD1 stablecoin and decentralized finance platform World Liberty Financial. American Bitcoin, a Bitcoin (CRYPTO: BTC) mining firm, is set to make its debut on the Nasdaq stock exchange. Moreover, Trump Media and Technology Group (NASDAQ:DJT), a firm majority-owned by Trump, has announced plans to set up a Bitcoin treasury. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Maxim Elramsisy / This article Eric Trump Says The Trumps Didn't Have A 'Choice' But To Embrace Crypto After They Were Debanked originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
