Posted on 06/25/2024 8:16:25 PM PDT by 11th_VA
Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation.
“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’s,” the economists wrote. Axios was first to report the letter.
“There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,” wrote the group of politically progressive academics...
(Excerpt) Read more at nbcnews.com ...
A gallon of gasoline was $1.69 here in Maine in March of 2020.
A barrel of oil was $40.00 per barrel in November 2020.
Now, it’s more than double that.
These idiot “economists” must have gotten their degrees out of a box of Cracker Jacks.
How can such “highly educated” people be such integrity-free nitwits They must be from the yellen school of economics...she said she didn’t understand how inflation worked. All are pathetic putzs.
Clowns, buffoons, not fit to run a lemonade stand.
What a bunch of left wing clap trap. Are these the same left wing Democrat clap trap artists who told the world that Biden Inflation is transitory?
Lies, full blown lies. NBC is lies.
Obama won a Nobel Prize - only took him two weeks as President, after 140 days as Senator
that’s where they’ve set the bar
Then, would I be correct in assuming, that in order to be an economist, one must first be a certified idiot? 😁
Honestly, after the 51 intelligence guys debacle, do they really think anyone is impressed any more with 72 of these, 194 of those, etc etc?
Funny, CIA stipends won't be necessary. All the "economists" are working at Universities like Columbia U.
Even if you're a closet conservative, you'll have to fake at being a liberal if you want to keep your job.
https://www.youtube.com/watch?v=4k1WBKHw26A
Glen Beck on Blaze TV addresses what is about to happen with our dollar...
When was the last time the Nobel Prize for Economics DIDN’T go to a socialist?
Bump!
Trump would unleash the Kraken on inflation again. He would open up the spigot for oil and gas exploration and production. America would export oceans of gas and oil while the price domestically for gas and natural gas would drop. Inflation would clutch its pearls and faint.
Was one of them AOC. She has a degree in economics.
LEFTIST ideologues with an economics degree
During Trump’s first three years in office, the deficit increased but only a tad relative to GDP.
Trump continually criticized the Fed for not growing the money supply faster. But, the Fed deflected his criticism. Trump nominated two people to the Fed that the Senate rejected, presumably because they weren’t conservative enough on money.
During Trump’s fourth year, the COVID year, the deficit ballooned. But, Trump’s approach to COVID including the shutdown and paycheck protection, was a “bipartisan” policy. In Congress, it was supported more by Democrats than by Republicans. Most of the no votes to paycheck protection were from Republicans. Most of the early re-opening states were Republican.
The right-of-center includes anti-vaxers and others who criticize Trump’s handling of COVID as favoring big pharma and being too expensive. The left-of-center wanted the government to do even more than Trump did.
I myself think the COVID year shouldn’t be blamed on anybody but should be a lesson learned. Practically every government, left and right, in the democratic world has voted out (with UK next in a couple weeks). It was a disaster.
On tariffs, Trump renegotiated NAFTA (now USMCA), and got trade deals with Japan and South Korea through Congress. He raised a China-specific tariff but in conjunction with a trade deal with that country involving sale of American farm production to China. All things considered, this was a modestly pro trade track record.
What has Biden done in trade? He hasn’t brought any new trade agreements to Congress, and he has shifted from trade to “re-shoring” production esp. of chips. Biden has also shut-down the energy industry which has implications for trade.
And, what has Biden done regarding the deficit? He has moved to a permanent unsustainable deficit.
Now looking at the letter written by Stiglitz and signed by a total of 16 Nobel Laureates, it is said to be a criticism of Trump or of “Trump’s policies”, but it isn’t an endorsement of Biden’s policies.
While Trump’s policies impacting inflation aren’t the best, Biden’s are worse. And, if you take the COVID year out, Trump’s policies weren’t bad. They were o.k. The truth is, inflation wasn’t a problem when Trump was President.
If you further consider Republican policies impacting inflation, Trump + Republican control of Congress is much better than Biden + Democrat control of Congress.
Well, that just goes to show you that the Nobel Prize isn’t all it’s cracked up to be.
I remember at one time (circa 1998, IIRC) 400 supposed ‘constitutional historian’ experts took out a full page ad in the NYT declaring that a BJ was not sex.
Among the notables were Doris Kearns Goodwin and Stephen Ambrose (Author, “Band of Brothers”).
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