The trade intervention process begun under the Trump administration is likely to spread to Europe and continue long after the Trump administration has been replaced. This is because as the problem of income inequality becomes an increasingly important political issue, especially in democracies, attempts to reverse income inequality will be undermined by the requirements of a globalized world economy. Democracies will face two options: either ignore income inequality and allow it to get worse, or begin to impose constraints on trade and capital flows so that reforms aimed at reversing income inequality do not lead simply to higher unemployment. An Italian factory paying workers 16 Euro an hour cannot compete with foreign cheap labour getting paid the equivalent of 1 USD an hour... Tariffs and Deglobilisation will be part of our world for a period that is for sure, the savers will balk at tariffs cause it reduces a share of their pie and forces wages to rise. The US economy is the best in the world, by far... But the difference between the savers and consumers is running high again due to Inflation, Wages have to come up for growth to pick up. How long can the US spend 1 Trillion a year in government spending ? In recession years, deficit will hit 1.5-2 Trillion for a few years ? High Debt deficits should only be for emergency measures to speed up growth, massive Infrastructure bill for the coming recession will be beneficial, but longer term and a more sustainable growth model is higher Consumption... Wage increase
OP sounds like the type who crosses his legs like a woman, lies about his college entrance exam scores, sips "fair trade" tea while munching on vegan frankenfood and listening to NPR, and highly overrates his intelligence while debating online all day at his gummint job.
"Otherwise humility is in very short supply among economists, who unlike, say, physicists, almost never publicly admit that there may be gaps in their knowledge and problems with their assumptions." Were economists to admit their lack of understanding in the topics they pontificate on, there would be no economists. Never heard a less capable group of people preach so much about topics for which they have no experience nor training.
Well, half correct. (Which is better than no-correct.) Some fascists are really petite-tyrants/dictators waiting to happen. They don't believe the state is more important than the individual [the definition of a fascist], they just want ("innocently" and with unicorns) everyone to do things *their* way. Or die. THAT is 'the liberal elite' -- poke 'em, and they bleed tyranny. The so-called Conservative Right, however, make no bones about their desire to control, clamp down, suppress, and outlaw any behaviors they find at odds with their own blinker-stunted views of life: "Save The Country!" Which, BTW, matters much more than any individual: "If you don't like it here?? LEAVE." Or die. "We're about Liberty!" Yeah. Poke 'em, and they bleed tyranny. THAT is fascist too -- just got there by another route. ("You mean like Columbus??" No, honey -- not like Columbus...) (...Try it this way: Leftist Fascists believe they are right. Rightie fascists believe you are wrong.)
If you don't like it here?? LEAVE - this was distorted... the original version is If you don't like it here?? YOU CAN LEAVE big difference. "The Dems have nothing.. and now they have less than nothing" - Donald J. Trump
Dems are certainly not the answer but then neither is tRump - with trillion dollar budgets as far as the eye can see. Through the smoke and mirrors and twitter rants. The media are being bamboozled by talking about his racist nonsense rather his idiotic failing policies.
as long as growth keeps up deficit is no issue, and also he's pressing the Fed to cut rates, so the borrowing cost will be lower. idiotic - a word doesn't go with a guy successful in biz/entertainment/politics... people wanted for so long for a non career politician to go in there and make real changes and drain the swamp.... this is finally happening and that's why the fake news media is bombarding 24/7... and a lot of people get brain washed by that.