Trump Presidency Would Be an Economic Nightmare, Nobel Prize-Winning Economist
“For our economy, I think the uncertainty of this political leader who clearly has no deep understanding of economics other than knowing how to go bankrupt [is a major problem]. And we can only hope that he won’t bankrupt the country, but he has said things like ‘let’s renegotiate the national debt’ … that’s something that’s almost unimaginable that any leader would say,” he said.
Stiglitz theorized on how Trump would do business in the White House based on the GOP nominee’s statements: “You know you’ve lent us money that was just the initiation of a negotiation, we’ll negotiate whether we’ll pay you back.”
“That’s not the way capital markets work,” he said, “So I guess I say it’s a nightmare. Fortunately, the probability that nightmare coming true is small and hope it’s getting smaller by the day.”
Stiglitz empathized with the middle class and poor people in America, who feel squeezed in the current economy; particularly voters willing to take a chance on some of Trump’s far-fetched ideas just because they want change.
“What we have to do is rewrite the rules of the market economy,” Stiglitz insisted. “We have to, for instance, try to encourage firms to be more long-term, less excessive CEO pay, pay more attention to strengthening workers’ bargaining rights … I don’t think it’s rocket science, but we haven’t paid any attention because we were blinded by the ideology of trickledown economics—that if the top did well everybody would do well, and that has been proven wrong.”
Trump makes new promises every day and changes the details to suit the audience – we used to call people like that ass kissers. But one thing he has pretty much stuck with is trickle down supply side economics with even more tax cuts for millionaires. A large percentage of the blame for the Great Recession of 2007-2008 goes to trickle down Republican policy. Working class and middle class Americans would not have suffered as much if more of the capital they created went into their pockets and savings accounts instead of tax breaks for the Donald Trumps. Speaking of which; it doesn’t matter if you live in Colorado, Ohio, Florida or somewhere in between, you helped pay for Trump’s financial shenanigans, Ask Trump for a Refund, He Received $885 Million in Tax Breaks for His New York Empire
Trump says he’ll be great at fighting terrorism If so, highly doubtful considering he doesn’t even know how our military works. On the hand, no bragging, just facts, Democrats are simply the greatest terrorists hunters in the history of the USA.
The president is a superior terrorist hunter. He has also neutralized a profound existential threat to U.S. allies in the Middle East, and denied ISIS access to vast storehouses of deadly chemical weapons. So why does he get no credit?
Hillary Clinton will continue this astounding anti-terrorism record, Who Let Terrorists Kill People, Democrats versus Republican leadership.
Research shows Democrats are better for the economy.
While the GOP convention news focused on Melania Trump’s plagiarism and Steve King’s claim about white civilization being superior, another thing that set it apart was that there was very little traditional GOP red meat. Rather than focus on jobs and economic growth, the convention centered around crime and undocumented immigration, both of which have decreased dramatically in the last several years. Indeed, recent Pew data suggest that the economy and jobs are far bigger concerns for the public than immigration and crime (though terrorism ranks high).That is true for Republicans, Democrats and Independents. Gallup data show that while the economy has declined in importance, is it still ranked far higher than immigration and crime.
Further, numerous studies, using numerous different methods, suggest that Democrats are better for economic growth and jobs than Republicans. In addition, under Democrats, the growth is distributed more equally across income groups.
The Long Goodbye 