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Indeed, and we never seem to learn. Lumber prices in the US during Covid were eye-watering and wreaked havoc through the whole economy that is still being felt
by freedomben 2y ago
Indeed, and we never seem to learn. Lumber prices in the US during Covid were eye-watering and wreaked havoc through the whole economy that is still being felt today, and it was almost entirely due to US protectionism of lumber.
- mrguyorama 2y agoYes, Trump's tariffs were exceptionally bad, stupid, poorly thought out, and poorly implemented, like the vast majority of the things he did. But the fact that goofus fails at doing X doesn't make doing X always the wrong choice.
- bityard 2y agoI'm not a fan of protectionism either, but that particular example is not true at all. Lumber prices rose because at the start of the pandemic, the industry predicted a housing crash and took drastic steps to downsize and then the exact opposite happened. And we were left with a garden-variety supply vs demand situation. If it was just protectionism, prices in Canada would not have had sharply increased lumber prices at the exact same time: https://www.cbc.ca/news/business/lumber-prices-covid-19-cost-of-housing-1.5973416 https://www.cbc.ca/news/business/lumber-prices-covid-19-cost...