Trump belief in failed economic analyses results in more failure

Click to enlarge

The Commerce Department said Wednesday that the United States last year posted an $891.2 billion trade deficit in merchandise, the largest in the nation’s 243-year history despite more than two years of President Trump’s “America First” policies.

The results were a sobering reminder that the laws of economics still apply to a president who had promised to supercharge economic growth while simultaneously shrinking the chronic U.S. trade deficit.

Those twin promises proved incompatible, as economists had predicted…

“Macroeconomics end up ruling. You can’t wish it away. You can’t tariff it away,” said William Reinsch, a former Commerce Department official now at the Center for Strategic and International Studies.

The same supply-side foolishness Republicans seem to love were trotted out by Trump advisors like Navarro and Kudlow offering up the same economic bible that failed – most recently – Ronald Reagan and George W. Bush. There are masochistic terms for fools who continue to repeat useless acts in hope of a different result. They describe politicians who really don’t give a damn about decent jobs, good wages, good education and good health for the working families of this nation..

3 thoughts on “Trump belief in failed economic analyses results in more failure

  1. 呵呵,不好意思 says:

    “Trump’s trade war is hammering Chinese exports, and it’s driving a global sell-off” (Market Insider 3/8/19)
    “China’s $345 Billion Stock Rout Shows Beijing’s Fear of Bubbles” (Bloomberg 3/8/19) “…Investors will be watching Monday’s open for an indication of where momentum is heading. A positive start would signal that stocks can resume their climb at a pace that’s more acceptable to authorities, while another lurch lower might fuel concerns over disorderly selling by margin traders.”

  2. moss says:

    Biz Insider is useless, more biased against China than Bloomberg or CNBC. Even Bloomberg reports today the growth direction for ETFs is into China. The so-called decline in China valuations was projected by President Xi a year or so ago as part of economic redirection towards deepening that nation’s economy away from exports, towards consumer-based growth and dependence.

    Even Trump can’t slow that down. Best example? Ping An – world’s biggest insurance company – has doubled in value since Trump’s phony victory in 2016.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.