Tuesday, April 8, 2025

Use your Lat

 


Smoot-Hawley Act

The Smoot-Hawley Act, officially known as the Tariff Act of 1930, was a U.S. law that raised tariffs (taxes) on over 20,000 imported goods to historically high levels. It was signed into law on June 17, 1930, by President Herbert Hoover. The act was sponsored by Senator Reed Smoot of Utah and Representative Willis C. Hawley of Oregon, both Republicans, with the intention of protecting American farmers and industries from foreign competition during the early stages of the Great Depression.

The main effects of the Smoot-Hawley Act were:

  1. Increased Tariffs: It raised the average tariff on dutiable imports from about 38% to over 45%, with some rates going much higher. For example, tariffs on agricultural products like butter and wool were significantly increased.
  2. Global Trade Retaliation: Other countries responded by imposing their own tariffs on U.S. goods, leading to a sharp decline in international trade. Canada, a major U.S. trading partner, retaliated almost immediately, and European nations followed suit.
  3. Economic Impact: Historians and economists debate its role in worsening the Great Depression. While it didn’t cause the Depression (which began in 1929), it likely deepened it by choking off global trade. U.S. imports dropped by about 40% between 1930 and 1932, and exports fell similarly.
  4. Political Fallout: The act became a symbol of protectionism gone wrong. It was widely criticized, even at the time—over 1,000 economists signed a petition urging Hoover to veto it. It’s often cited as a lesson in how trade wars can backfire.

The Smoot-Hawley Act was eventually scaled back in the 1930s and 1940s as the U.S. shifted toward freer trade policies under the Reciprocal Trade Agreements Act of 1934. Today, it’s remembered as a cautionary tale about the dangers of excessive protectionism.

Tariffs: 1930 Versus 2025


Sunday, March 30, 2025

How To Stay In A Streamline Position While Breathing

Make sure to start the next stroke when your leading hand is fully extended in front


 

How to use your lats when you swim



Friday, March 21, 2025

Only Singaporeans get it "SPDR S&P 500 ETF Trust (SGX:S27)"

 Good write up from SG Budget Babe

Summary of the key points from the  article:

  1. Many Singaporeans invest in the S&P 500 via SPY or VOO ETFs listed in the US, unaware of better options locally.
  2. Investing in US-listed ETFs exposes Singaporeans to additional costs: custodian fees, dividend withholding tax (30%), and US estate taxes.
  3. CSPX (UCITS) offers tax advantages but still incurs custodian fees.
  4. Robo-advisors like EndowUs offer access to the S&P 500 using CPF/SRS, but fees can add up.
  5. SGX-listed SPDR S&P 500 ETF (S27) avoids custodian fees and allows SRS and CDP investing.




Top 8 ETFs to buy for Singapore Investors in 2025

Top 8 ETFs to buy for Singapore Investors in 2025 (by Financial Horse)