Do you know what the biggest, not only, cause of 1938 Stock...

Do you know what the biggest, not only, cause of 1938 Stock market collapse and the following depression was? I would suggest you spend some time studying tariffs and their effects on economy before thinking they may help any of us that have investments. The late 1930s saw receptacle tariffs implemented by Europe and US. Net result disaster. They were started by Europe because US was way out producing them because its manufacturing base was not impacted by WW I. Now it is US trying to protect from China and others. The number of stays or reversals just days after TRUMP has implemented some Tariffs shows just how little he is thinking about future. If economies collapse who cares about Lynas? It will be dragged down like all stocks. Let me correct that because of its High PE 70 it will fall twice as fast as most of the ASX which has a PE of about 30. There is little forward-looking optimism in a collapsing market. Demand for REE will drop further hurting Lynas's bottom line. No one will want to spend money on new things like robots.

Here is a chart of the performance of the ASX over last 45 years. The second chart is PE. Take a look at all the graphs and figure out what happens if economy has even a moderate slow down never mind a depression. Market Statistics (ASX): PE, Earnings & Yield - Market Index