trump made a statement & I have a question

businesses like certainty.. and trump brings chaos. esp in economics which he does not understand.

This. 

Anything trump says should be considered a lie. No matter what. If he says the grass is green, lie. Anything that comes out of that man's mouth...LIE.

I am a former banker and financial writer. I still read and listen to a lot of financial news, interviews with CEOs, Jerome Powell, etc. on both sides of the political spectrum. Trump is very pro business, which is good for the stock market, but won’t help the middle class, many of whom aren’t invested in the markets. It will really hurt those at the bottom.


If you remember before Covid (who can?) his economic policies were starting to succeed. Unemployment was low and job creation was up. He won’t shoot money out of a fire hose like Biden did during Covid, so our currency could strengthen internationally. Even if Trump is good for the markets, he’s still unhinged and will do damage in other ways.

If she hasn't already, Kamala needs to come out STRONG and let people know the stock market is high, and interest rates falling, due to expert fiscal management on the part of the fed and the Biden administration.  

I think there are several things on the horizon that could make stock markets tank -- a port strike, impending wars over seas that we may or may not be involved in and yes, Trump being elected. Of those three possible situations, I think Trump is the least worrisome to me. I also think that it's possible that if Harris wins, there could be some volatility as well.

Once again, Trump is demonstrating a lack of a basic understanding of economics. If he gets elected and follows through on his tariffs and deporting 11 million people, he will increase inflation, raise interest rates and potentially, send the economy into a recession.

www.nytimes.com/2024/08/22/business/trump-stock-market.html

When he was taking credit for the stock market rally at the start of the year, there was “no validity to that at all,” said Seema Shah, chief global strategist at Principal Asset Management.


www.cnn.com/2024/09/05/business/trump-economy-tariffs/index.html

It’s part of the reason Goldman Sachs in an analyst note this week said Trump’s economic policies – particularly on trade – would cause America’s economy to shrink. By contrast, Vice President Kamala Harris’ economic policy proposals would grow the economy, Goldman Sachs predicted.

Goldman and other experts fear Trump’s tough proposed trade tactics could worsen the affordability crisis in America.

“It’s one of those magical economic proposals that can actually cause inflation and put you into a recession – at the same time,” David Kelly, chief global strategist at JPMorgan Asset Management, told CNN in a phone interview.

Kelly warned that tariffs are a “perfect stagflation machine,” threaten to scramble supply chains and invite a punishing response from trading partners.

“It’s a two-year-old’s mentality: You punch someone in the nose and expect them not to punch you back,” he said.


thehill.com/business/4861677-goldman-sachs-trump-impact/

Analysts at Goldman Sachs are warning of diminished economic performance if former President Trump is elected and able to implement his agenda.
Trump’s plans to crack down on immigration and impose new tariffs on Chinese goods will take a chunk out of gross domestic product (GDP) growth to the tune of a half percentage point in the second half of 2025 before rebounding in the following year, Goldman analysts predicted.

“We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse,” they wrote in a Tuesday analysis.

Energy drives the economy, and trump is an idiot when it comes to understanding energy markets. I know that MAGA wants to complain about higher gas prices under Biden, but prices were beginning to climb under trump before COVID.

Mr. Global is an energy expert on TikTok and Twitter who can explain the economics of the energy sector in plain language. Robert Rapier on Facebook is another good source of information about how energy markets work.

Both of them have produced content that explains why trump was bad for our energy economy. This video by Mr. Global is actually a good explanation of the damage trump did to the US oil industry: x.com/matthewcanwrite/status/1838289806511518113?s=46&t=Y-r7JiIyKIzu7Ff-3J1fqg

And this one explains how his”deal” with OPEC has led to a national security risk with Russia and helps explain why putin wants Ukraine so badly; x.com/matthewcanwrite/status/1838644551994458224?s=46&t=Y-r7JiIyKIzu7Ff-3J1fqg



If trump wins, look for more energy chaos.

I haven't read the comments.....my brain is saying

OH Yeesh...Doofus

From a Nobel prize economist

Gift articles - no paywall

www.nytimes.com/2024/09/30/opinion/trump-inflation.html?unlocked_article_code=1.Ok4.t-ja.FkVHmCixrlWE&smid=url-share

But Trump has consistently pushed for high taxes on imports — something that, contrary to his claims, would ultimately get passed on to consumers — mass deportation of undocumented workers and ending the Fed’s independence, all of which would raise inflation. Among economists recently surveyed by The Financial Times and the University of Chicago Booth School of Business, 70 percent thought Trump’s policies would be more inflationary than Harris’s; only 3 percent thought the reverse.

How inflationary would Trumponomics be? A new study from the Peterson Institute for International Economics tries to put numbers to the likely effect. It estimates that depending on the extent to which Trump’s policies on tariffs, the Fed and, in particular, immigration are enacted, they would raise inflation between about four and seven percentage points above the base line, meaning inflation of about 6 percent to 9 percent.

Now think about what Trump is contemplating. Rounding up millions of foreign-born workers would cause an immediate large reduction in labor supply. Tariffs would drive up the cost of imported goods as surely as shipping costs and inadequate port capacity did in 2021-22. Trumponomics would, you might say, be a plague on the economy.

Many voters still believe that Trump would do a better job than Harris on the economy, although his edge on the issue of inflation has largely vanished. But people who have looked at his actual policy ideas believe that they’re an inflation disaster waiting to happen.

Trump has asked Elon Musk to come up with a plan to slash 3 Trillion from the budget. That will tank the market and Elon agrees "at least temporarily".


Unless Trump is lying about this plan?
could that be?

see above post!!