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Scoop: 16 Nobel economists see a Trump inflation bomb - Axios
Posted on 6/25/24 at 8:25 pm
Posted on 6/25/24 at 8:25 pm
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Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November.
Why it matters: The Nobel laureates are lending their academic prestige to a political argument the Biden administration has been making for weeks: Inflation would be worse under Trump.
"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 16 economists write in a letter, first obtained by Axios.
Driving the news: The economists' claim is part of a broader attempt by Biden's campaign to turn the 2024 election into a choice between the two candidates' plans for the future — and not necessarily a referendum on Biden's record.
"We believe that a second Trump term would have a negative impact on the U.S.'s economic standing in the world, and a destabilizing effect on the U.S.'s domestic economy," the economists write in the letter.
"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 write.
The message was spearheaded by Joseph Stiglitz, who won the Nobel prize for economics in 2001.
This post was edited on 6/25/24 at 8:27 pm
17
Posted on 6/25/24 at 8:50 pm to boomtown143
Posted on 6/25/24 at 8:50 pm to boomtown143
Yikes
Posted on 6/25/24 at 9:03 pm to boomtown143
And 51 high ranking intelligence officials all said the Hunter laptop was russian disinformation. Not to mention all of the medical professionals they trotted out in 2020 and 2021 on Covid that turned out to not be accurate. I know it’s not that poli board but excuse me if I’m a bit skeptical on experts these days.
Posted on 6/25/24 at 9:06 pm to boomtown143
Some people should have been swallowed by their mama
Posted on 6/25/24 at 9:11 pm to boomtown143
quote:
There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets
Having less deficit spending is irresponsible?
Posted on 6/25/24 at 9:25 pm to boomtown143
quote:
with his fiscally irresponsible budgets
What do they say about Biden's budgets? Billions to Ukraine, illegal aliens and student loan forgiveness. These freaking clowns.
Posted on 6/25/24 at 9:32 pm to boomtown143
Orange man bad!!!!
Posted on 6/25/24 at 9:38 pm to boomtown143
We’ve already discussed this here and they’re not wrong.
Increasing tariffs can be done with an executive order and would have an immediate and obviously negative impact on inflation. To argue otherwise is asinine.
Many of Trump’s policies that would counteract that require congressional approval and that’s a different story altogether. Things Trump can do on his own are mostly inflationary.
Increasing tariffs can be done with an executive order and would have an immediate and obviously negative impact on inflation. To argue otherwise is asinine.
Many of Trump’s policies that would counteract that require congressional approval and that’s a different story altogether. Things Trump can do on his own are mostly inflationary.
This post was edited on 6/25/24 at 9:40 pm
Posted on 6/25/24 at 9:43 pm to slackster
I'm just going to save your post.
We'll come back to it in a year or so.
We'll come back to it in a year or so.
Posted on 6/25/24 at 9:47 pm to boomtown143
That’s fine.
I’m voting for Trump, but I’m a realist - I saw the budgets he approved. I saw the Covid bills. I saw the tariffs. He’s not remotely fiscally conservative, and even if he’s better than Biden in that respect, he can’t do it alone.
The tariffs can be done alone. That’s the inherent problem. If he gets those without other offsets - which is the most probable scenario- it will add to baseline inflation.
I’m voting for Trump, but I’m a realist - I saw the budgets he approved. I saw the Covid bills. I saw the tariffs. He’s not remotely fiscally conservative, and even if he’s better than Biden in that respect, he can’t do it alone.
The tariffs can be done alone. That’s the inherent problem. If he gets those without other offsets - which is the most probable scenario- it will add to baseline inflation.
Posted on 6/25/24 at 9:56 pm to boomtown143
Nobody knows shite about economics. If they did, we wouldn’t have recessions and depressions. The whole thing is that it’s unpredictable.
Oh now they worried about fiscal deficits
Oh now they worried about fiscal deficits
Posted on 6/25/24 at 10:20 pm to boomtown143
The last thing I'll do is trust an expert that hasn't walked a mile in my shoes.
Literally some of the dumbest motherfrickers alive to waste my oxygen.
Literally some of the dumbest motherfrickers alive to waste my oxygen.
Posted on 6/26/24 at 12:44 am to boomtown143
Just remember Krugman won a Nobel too. And he is never right.
Posted on 6/26/24 at 2:27 am to boomtown143
This statement reminds me of that statement by 51 intelligence officials says Hunter’s laptop was Russian disinformation. It’s purely political.
Posted on 6/26/24 at 3:55 am to boomtown143
Trump will spend 8 Trillion dollars. He’s no different than Biden in that respect. Whoever wins in November is likely going to see a worsening economy and inflation. The Trumpies will just blame Biden and the Biden folks will blame Trump when reality is BOTH of these imbeciles got us in this mess. What economic policy has Trump presented so far that will curb spending and reduce inflation?
Posted on 6/26/24 at 5:31 am to boomtown143
They must have had a meeting with the 53 former intelligence officials who dismissed the laptop
Posted on 6/26/24 at 6:28 am to boomtown143
I’m not a Trump fan but the media bias is blatant.
Anyone that trusts the MSM regardless of outlet without doing cross references of facts and fiction is uninformed.
Anyone that trusts the MSM regardless of outlet without doing cross references of facts and fiction is uninformed.
Posted on 6/26/24 at 7:22 am to ronricks
I'll be voting for Trump.
With that being said, trump spends like a drunken sailor. Definitely wish he was fiscally conservative
With that being said, trump spends like a drunken sailor. Definitely wish he was fiscally conservative
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