Posted on 06/26/2024 8:41:43 AM PDT by algore
A group of 16 Nobel prize-winning economists have issued a stark warning that inflation would be worse under Donald Trump.
The former president would reignite inflation and cause lasting harm to the US economy, the Nobel laureates said in a letter first obtained by Axios.
'While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump,' the letter read.
The warning was spearheaded by American economist Joseph Stiglitz, who won the prestigious honor for economics in 2001.
Inflation remains a hot topic for voters ahead of the presidential election in November, and Trump has long used criticism of so-called 'Bidenomics' as a way to gather support.
The economists wrote: 'We believe that a second Trump term would have a negative impact on the US's economic standing in the world, and a destabilizing effect on the US's domestic economy.'
'Many Americans are concerned about inflation, which has come down remarkably fast.
There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,' they continued.
The annual rate of inflation fell slightly to 3.3 percent in May - down from the month prior.
This is down from a 40-year high of 9.1 percent in June 2022, but still above the Federal Reserve's 2 percent target.
Stiglitz was joined in his warning by fellow Nobel laureates George A. Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric S. Maskin, Daniel L. McFadden, Paul R. Milgrom, Roger B. Myerson, Edmund S. Phelps, Paul M. Romer, Alvin E. Roth, William F. Sharpe, Robert J. Shiller, Christopher A. Sims, and Robert B. Wilson.
(Excerpt) Read more at dailymail.co.uk ...
Sure, let’s ignore the evidence of the actual inflation rate under Trump in his first term compared to Biden’s inflation rate. These Nobel-prize winners beg to differ with reality, so we should all listen to them.
Then can someone explain how we thrived under Trump even with the covid actions but we are now more broke than we have been since the depression of the 30’s. And Trump’s term had to work the problem of the actions to define covid and start the ways out of it for Biden to follow. Amd he still screwed up the economy and flooded our country with illegals doing it. Talk’s cheap but it can be purchased. This report is an example.
wy69
ACTUAL RESULTS during Trump admin versus Biden admin is the best indication of whose policies were better.
As a life long engineer designing and building real products for the main street economy, what I learned the best is ignore all opinions and rely only on actual results.
the so-called “Nobel Prize in Economics” isn’t really a Nobel prize at all ... ACTUAL Nobel prizes are awarded only Chemistry, Medicine, Literature, and Peace ...
the so-called “Nobel Prize in Economics”is actually the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ... And any prize that can be won by Paul Krugman is completely worthless ...
Exactly! Who paid these economists to say this, Schwartz Gyorgy?!
So where have these geniuses been for the last 4 years?
My guess is they all have the name Paul Krugman.
Anyone presented by the media as a luminary is a Leftist.
Once upon a time, advertisements appealed to the intellect (even if deceptively).
I’m old enough to recall when the Nobel prize meant something besides who was the most leftist.
You have just crossed over into — The Twilight Zone.
More “experts”, huh? ... Anyone still listening to “experts” — in any field — and taking what they say at face-value as the truth, is too foolish, too naive, to be considered a rational adult.
and amazingly- Google and ilk haven’t ‘fact checked’ and cried ‘Disinformation’ about those blatant lies-
i think the joke could be updated so that the “economist” is a “Nobel Prize winning economist” :-)
everythign is nearly double what it was when Trump was president- but by golly, the left assure us biden’s inflation tackling has been ‘superior to Trump’s”
once again the left gaslight the public- Telling them that ‘despite prices being double on nearly everything as when Trump was president, current prices show a remarkable biden led recovery”
The left woudl stand in front of a burning building and proclaim “The building is fine, it’s not burning- that is just disinformation”
Hopefully, Trump has better debate preppers than Chris Christie and Rudy G. this time. Those ass-clowns cost him the election by encouraging Trump to act like a prick. If I was Trump, when Tapper brings this up, I would say: “Jake, I agree that inflation is the #1 issue in this campaign. So let’s disregard what 16 socialist professors say what my policies would do and instead focus the results I achieved when I was POTUS.”
one would think that these 16 liars should have won the prize for demagoguery rather than economics because any idiot can look at a simple chart and see that inflation was nil during the Trump Presidency and exploded during the Biden Presidency ... also shows one how worthless economists and their prizes are ...
John Locke, Adam Smith and Milton Friedman deserve Nobels in economics. Since nothing really new ever happens in economics other than endless blabber, all the others got their Nobels as essentially participant trophies.
“what I learned the best is ignore all opinions”
exactly ... because opinions are like anuses: everyone has one ...
they did this so biden can have a debate talking point
it is the same gambit as the hunter laptop
The Nobel Committee denied Pres Trump the Nobel Peace Prize even though he had sponsored the Abraham Accords, the most important accomplishment the Middle East had ever seen.
And Saudi Arabia was about to join the group bringing Jordan and others along.
That shows you what a “Nobel Prize” means - it means nothing.
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