16 Nobel Prize Winning Economists Warn Trump Will Ruin Economy

[Cheerful Charlie]

When 16 Nobel Prize winning economists warn the U.S. about Trump's economic incompetence, people should take this seriously.

......

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.
.....

https://www.axios.com/2024/06/25/nobel-prize-winners-biden-economy-trump-inflation

 

[Gospel]

GTFOH nobody cares about the Nobel prize anymore.

 

[bilby]

In other news, sixteen top materials scientists warn that water is going to be wet.

 

[scombrid]

Feather in Trump's cap among his base. The "elitists" don't like him.

 

[Cheerful Charlie]

It will give Biden something to talk about during the debates. Biden has a chance to start a debate over the future of economic policy in America. Biden could essentially draft America's top competent economists to campaign against Trump. The other warning economists could give us is about GOP supporters of Trump's economic policies. And reminders what tax cut crazy policies did to Kansas. Don't let Trump and the GOP Brownback America.

 

[ideologyhunter]

Gospel and Scom nailed it. This report will only matter to those who already know that supporting Trump is like being pro-brain tumors. The loyal Trump base won't hear about it, because they're insulated from any unfavorable news about their hero. The news feeds they use wouldn't touch it. And Nobels don't impress the Righties, because Obama got one; Bob Dylan's probably didn't help, either.
Consider the other hugely evident features of Trumpian economics that his believers can't comprehend/never hear about:
1- The long list of Trump bankruptcies and epic fails. A short list would include:
Trump Taj Mahal
Trump Airlines (AKA Trump Shuttle)
Trump Shakespeare Deluxe Editions
Trump Steaks
Trump University
2- The mess Trump left us in January 2021 -- 6.3% unemployment, massive increase to national debt -- versus our current growth rate, job figures, stock market. Trumpies rail about inflation without any insight into what caused it. Their ads tend to blame it on govt. spending, but if that's the case, Trump is the last man you'd support. Without question, Trump would've killed to have Biden's economic numbers in 2020. He'd have won the election if he'd had them. The connection between Trump's criminal mishandling of covid and the economic squalor of '20 should be obvious to anyone who has a little common sense and knows what happened that year.
3- My favorite glimpse into the MAGA brain cavity is that they saw how he went from owing E. Jean $5 million to getting assessed an additional EIGHTY THREE MILLION DOLLARS, all because he can't control his own mouth. Yet they consider him the model of a genius entrepeneur. There aren't words, except for Barnum's.
4- A quick fact check tells me that I appear to be wrong about the Trump Shakespeare Deluxe Editions. Apparently they never happened. Maybe it was a Trump Slovenian porn channel I was thinking of.

 

[rousseau]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

 

[ideologyhunter]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I didn't mention the so-called "independent" voters, so you have a point. But today's independent voters seem to me to be as maddeningly obtuse as the Trumpies. Who, in the summer of 2024, doesn't know all they need to know about Donald Trump?
But maybe, some of those mysterious independents...

 

[southernhybrid]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I didn't mention the so-called "independent" voters, so you have a point. But today's independent voters seem to me to be as maddeningly obtuse as the Trumpies. Who, in the summer of 2024, doesn't know all they need to know about Donald Trump?
But maybe, some of those mysterious independents...

I think you're right. The Times does interviews with independents and "double haters" and asks them each about 10 questions. Their answers just show their ignorance in most cases, although the most recent group were thinking about voting for Worm Brain and almost every one of them said they would never vote for Trump, a tiny bit of good news. It reminded me of the conversation I had with the 22. year old son of a good friend of mine. He said if he votes, it would be for the "guy with the worm in his brain". I. tried to reason with him to no avail. I told his mom yesterday about our conversation. She told me he was like a 22 year old going on 15. I thought to myself more like a 22 year old going on 11. You can't reason with people about this election, even if they haven't made up their minds and it doesn't take an economist to know that Trump would destroy the economy. Actually, all he cares about is being a celebrity. Idiocracy is here for sure!

 

[Ford]

So, "many people are saying."

I'll read the article when I get a minute, but last week on MSNBC, Lawrence O'Donnell did a segment on how Trump's plan to raise revenue with tariffs is basically the Smoot-Hawley Tariff Act all over again. Which actually made the Great Depression even worse.

 

[Derec]

I wonder how many people know that law from this:

Gen X and geriatric Millennials especially.

 

[ZiprHead]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I think it will help for those independents on the fence.

 

[rousseau]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I didn't mention the so-called "independent" voters, so you have a point. But today's independent voters seem to me to be as maddeningly obtuse as the Trumpies. Who, in the summer of 2024, doesn't know all they need to know about Donald Trump?
But maybe, some of those mysterious independents...

16 world class experts converging on the same message is a pretty big statement, even for the obtuse. At worst, it's not going to convince anyone to vote for Trump and not Biden.

 

[bilby]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I think it will help for those independents on the fence.

Only if they both vote.

I mean, seriously, who is simultaneously sufficiently interested to vote, while also insufficiently interested to have picked a side, given just how extreme Trump and the GOP have become?

 

[ZiprHead]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I think it will help for those independents on the fence.

Only if they both vote.

I mean, seriously, who is simultaneously sufficiently interested to vote, while also insufficiently interested to have picked a side, given just how extreme Trump and the GOP have become?

Point taken.

 

[bilby]

At worst, it's not going to convince anyone to vote for Trump and not Biden.

I think you underestimate the degree to which pig-ignorant dickheads are prepared to act against their own interests in order to demonstrate their dislike for intelligent people.

The same fuckwits who were happily wasting their own money to make their vehicles less efficient, more expensive to maintain, and dirtier, by "rolling coal" in order to "own the libs" are more than likely to be convinced to vote for Trump by this announcement.

Even if it crashes the economy and leaves them homeless, jobless, and destitute, they will think it worthwhile if it slightly annoys a Democrat voter.

 

[TSwizzle]

When 16 Nobel Prize winning economists warn the U.S. about Trump's economic incompetence, people should take this seriously.

lol, This reminds me of the 50 experts that swore Hunter’s laptop was a Russian misinformation job and the experts that said a covid lab leak was conspiracy theorist nonsense.

 

[Toni]

I'm not convinced that it won't help. Whether it'll make a significant difference is another thing. But if we only care about making a significant difference then why talk politics at all?

I didn't mention the so-called "independent" voters, so you have a point. But today's independent voters seem to me to be as maddeningly obtuse as the Trumpies. Who, in the summer of 2024, doesn't know all they need to know about Donald Trump?
But maybe, some of those mysterious independents...

Speaking only of the ‘independent voters’ I personally know and might be related to, they are mostly far to the left of Biden, think Bernie Sanders was cheated ( but Biden is too old) and are mostly mad that adulting is hard, progress is slow, they were not born into Nirvana and that real life involves difficult choices and compromise. Abd how dare boomers be able to retire/why don’t all the boomers retire so we can have their jobs abd better yet, why don’t all the boomers just climb onto dwindling ice flows do we can get their houses for cheap.

 

[Cheerful Charlie]

Fortune 500 CEOs do not support Trump
.....
"We've been looking at this now for the last four months," Sonnenfeld explained. "We've been pointing out that there are no Fortune 500 CEOs who are supporting former President Trump. And that is an historic break, going back to William Howard Taft and through Calvin Coolidge and Ronald Reagan and the Bushes and everything."

Sonnenfeld went on to say that "the Trump economic package frightens" these CEOs.
.....

Trump’s 'crazy' proposals make Fortune 100 CEOs 'reluctant Biden voters': Yale economist

June has seen a great deal of reporting on all the millionaires and billionaires who are supporting presumptive GOP nominee Donald Trump in the 2024 presidential election.Billionaire Thomas Mellon, for example, donated $50 million to a pro-Trump super PAC.But Jeffrey A. Sonnenfeld — president of...

www.alternet.org

 

[Politesse]

GTFOH nobody cares about the Nobel prize anymore.

Or economists. Or letters.