Trumpflation

[MajorRewrite]

Trumpflation Worries Spread, Stoked by GOP Tax, Tariff Plans

The Republican economic agenda is spurring a different narrative. A combination of further tax reductions, across-the-board tariff hikes and curbs on immigration is stoking the risk of inflation remaining at elevated rates — in turn spurring concerns about US fiscal sustainability.

Now, “the worst outcome for markets is a Republican sweep” of both the White House and Congress, says Jeffrey Sherman, deputy chief investment officer at DoubleLine Capital.

And draconian curbs on immigrants risk arresting the labor-force growth that has helped to fill a record number of unfilled jobs in recent years, in turn keeping wage pressures lower than otherwise.

The party of economic irresponsibility?

 

[ExxWhyZee]

No one proposed an immigration ban

 

[MajorRewrite]

No one proposed an immigration ban

Mass deportations is the plan.

 

[Rotadom]

trump is Reagan without any of the (minimal) good stuff.

 

[censurat]

Mass deportations is the plan.

of illegal aliens

GOOD

 

[Saint_Ann]

trump is Reagan without any of the (minimal) good stuff.

Biden is Reagan with all the bad stuff.

 

[MajorRewrite]

of illegal aliens

GOOD

The economists on Wall Street are pointing out the negative economic impact of deporting millions of productive employees.

 

[ExxWhyZee]

The economists on Wall Street are pointing out the negative economic impact of deporting millions of productive employees.

No they aren't

 

[MajorRewrite]

No they aren't

Yes, they are. You have severe reading comprehension issues. You ought to sign up for an adult literacy class.

 

[ExxWhyZee]

No they aren't

 

[MajorRewrite]

Adult illiteracy is a sad thing.

 

[Pad_Foot]

Who pays the new 10%(?) tariff ?
Who benefits ?
How first not affect inflation ?
How many markets will the US lose?
Will the 10% be used immediately on the debt??

 

[MajorRewrite]

Will the 10% be used immediately on the debt??

No, the Trump economic plan will increase the deficit (and add to the national debt) so tariff revenue will be spent on current expenses.

 

[censurat]

Adult illiteracy is a sad thing.

your post was fake news

 

[censurat]

No, the Trump economic plan will increase the deficit (and add to the national debt) so tariff revenue will be spent on current expenses.

YES ITS BS!

Once Again, ‘Experts’ Ride to Biden’s Rescue​

George Leef
about 5 hours ago
https://i0.wp.com/www.nationalreview.com/wp-content/uploads/2023/10/president-joe-biden.jpg?fit=789%2C460&ssl=1
Remember the 51 “national-security experts” who declared without any hesitation that the Hunter Biden laptop had to be Russian disinformation meant to hurt poor Joe Biden?
We now have a replay of that, but with 16 Nobel Prize winning economists declaring that the economy will fare better if Biden (or any Democrat) wins. That should settle the question, right?
In his latest “Bastiat’s Window” post, Bob Graboyes disagrees:

For those who trust markets, businesses, and individuals more than government, there’s plenty to dislike in the economic policies of both Joe Biden and Donald Trump. That said, the most unhelpful piece of campaign literature this year is from the Biden side, not so much for its content, but rather because it undermines the scientific reputation of economics and the integrity of its highest honor—the Economics Nobel. It’s a letter from sixteen Nobelists arguing that, “Joe Biden’s economic agenda is vastly superior to Donald Trump’s.” The letter offers ideologically skewed ad hockery as economics and commandeers the Nobel’s prestige. (The letter is here.)

Are these 16 really sure that the full-bore statism of the Dems will lead to better conditions for Americans than the somewhat more laissez-faire ideas of the Republicans? Or is it merely that they are comfortable with their luxury beliefs in the wonders of big government and want to help the Democrats as they herd us down the road to serfdom?

Graboyes points to the bad track record of the singularly nasty Paul Krugman:

Following the 2016 election, Nobelist-turned-pundit Paul Krugman predicted that Trump’s election meant:
“we are very probably looking at a global recession, with no end in sight.”
Krugman’s prognostication received enormous coverage, but proved completely wrong. Economic growth was robust in the Trump years until the exogenous shock of COVID.

Graboyes also observes the dishonesty of the claim that Trump would probably run up huge deficits and ignite inflation, while at the same time saying that Biden’s huge deficits have bolstered the economy.
Our bloated federal leviathan has done untold harm to the country, and a small part of that has been the undermining of intellectual integrity.

 

[MajorRewrite]

Key policies that undergird so-called Trumponomics — a combination of tariffs, tax cuts and a crackdown on immigration — are likely to cause a flare-up in inflation, according to many Wall Street economists. That would be a painful outcome for consumers and businesses sapped by more than two years of surging prices.

They note that tariffs effectively act as a consumption tax, increasing the cost of goods imported into the U.S. — costs that businesses typically pass on to consumers.

Meanwhile, the sharp corporate tax cuts Trump has floated would act as an inflationary fiscal stimulus. And another central plank — deporting immigrants — could force employers to pay higher wages to attract a shrinking pool of workers, also adding to pricing pressures.

Economists say Trumponomics could drive up prices