Not the first time economists have warned that if elected, a second Trump term, should he be allowed to enact his entire platform, would be significantly inflationary. Raising and adding tariffs, lowering the dollar value, and deporting millions of immigrants would all be inflationary. And the deportation could also send a demand shock that could cause a recession. As the article details, the extra millions in immigrants have lessened the effect of the current worker shortage, as well as adding extra demand to our economy. It's one of the main reasons the post-COVID recession never materialized according to the experts quoted in the article. But a second Trump term could make things worse. For those worried about inflation an/or stagflation, don't vote Trump. He gets his way, he might bring about the stagflation many are worried about.
Pretty sure conservatives are unconcerned about policy impacts. They'd burn everything down to own the libs, just ask them.
This is a joke, right? The Biden Administration has produced the highest inflation in the US since the late 1970s. How can we fear what has already happened. People are worse off under Biden than Trump. They want to have a change election even more so that the 2020 election. I bet you would have never believed Orange Man Bad/Mr. Mean Tweets is preferably to your Fuhrer.
Do you think that increasing tariffs is inflationary, deflationary, or has no impact on prices? Do you think that cutting immigration or reducing the current labor supply is inflationary, deflationary, or has no impact on prices?
No joke. It's high school level economics. The POTUS has only so much he/she can do to effect an economy. And when Trump took office, we were in the middle of a mature economy. This means 2.5% to 3% annual growth, and low inflation. Remember Trump saying he'd get us to 5% growth? Didn't happen, even though he tried turbocharging the economy by lowering taxes and increasing spending. The result? The mature economy said, "meh," and continued with it's 2.5% to 3% growth with low inflation. Biden took over in the middle of a global pandemic. A pandemic that caused a lot of older people to take early retirement, over 200,000 deaths of people in their prime working ages, and slowed immigration to a trickle. The result was global labor shortages or stoppages. When things started to return to normal, our "point in time," system couldn't handle the influx. Remember the dozens of ships waiting on the coasts to dock? It was like kinking a hose, temporarily stopping the flow, and then letting it go. Again, this effect was global. And among top industrial countries, the US actually fared much better than most of the world. Two things the POTUS can do to effect an economy are tariffs and immigration. Raising tariffs is always inflationary. As are labor shortages. We're already in a labor shortage situation that is slowly getting back to normal. What would happen if Trump deports millions of people who have jobs in the US? These millions are also creating demand, and as the experts in the article state, are one of the reasons we never saw a post-pandemic recession. If Trump gets his way and deports millions, he could very likely be creating the stagflation idiots who don't understand economics think Biden is doing right now! Trump was leading the country during a time when any idiot could have 2.5% to 3% growth and low inflation. Thinking just putting him back in office under current conditions and we magically get back to those numbers is overly simplistic, idiotic thinking. Conditions are very different, and Trump's policies are the exact opposite of what we need at this time. Among the G7 countries, the US has the current top economy and lowest inflation rates. Trump's policies would destroy this.
This requires something MAGAts don't have. Critical thinking ability. MAGAts think Trump is some sort of deity or magician, and if elected again, everything magically reverts back to 2017! But ask any MAGAt to address the differences in the world today versus 2017, and show them how experts agree Trump's policies would be a disaster, and the reply is, "derp derp derp." Can anyone explain why deporting millions of people in our workforce in a time when we're in a labor shortage and there are still more open jobs than unemployed is a good economic policy, and won't cause inflation? Or, is it just "Trump...derp derp derp..."
I don't think he's interested in these questions. Both proposals will be very inflationary if enacted, especially deporting 11 million mostly low wage workers who are doing jobs most Americans don't want. The amount of supply disruptions in key industries like food and construction would be immense.
Proposing 10% tariffs on everything imported Proposing 60% on China Shutting down immigration and mass deportations in the middle of a labor shortage Proposing pushing fed to drop interest rates How is this not inflationary? Unlike historical tariffs, that tend to try to protect domestic production, these tariffs are on everything including stuff we don’t produce, like coffee Do we really think that other countries will just sit still and do nothing in response or will they increase tariffs too? Many companies based in US import materials and parts, like the auto industry. That will push up the cost, and price of domestic manufacturing. As corporate America has demonstrated if you constrain supply, they will not hesitate to increase prices as supply and demand predicts they will do (so called “corporate greed”) The Ezra Klein Show: Trump’s Bold Vision for America: Higher Prices! on Apple Podcasts
You are absolutely correct. But raising taxes and expanding the administrative state stunts growth and increases income inequality. A pox on both parties, they are both in on the scam together, feeding off of the trough and laughing their asses off at all of you for taking the bait.
In addition Trump likes debt and has no problem running up deficits - so while Biden is not great on that front Trump will be worse, if he gets what he wants.
I will, but fair warning to the mods, it will be both insulting and X rated. I hope you hoopleheads realize both Trump and Biden created Covid relief millionaires out of whole cloth at your expense. There is your start. Like me now? Now, if Milton Friedman were still alive, I would write his name in.
Bluke thinks Trump didn't give money away. Tom Brady got almost a million dollars for walking his dog on Davis islands. Bluke, you are a good guy, but WTFU.
