7 years ago
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Donald Trump's Economic Plans Would Destroy the U.S. Economy
On Thursday, Donald Trump's tweet about tacos was only the second-most-alarming message he sent to potential voters. Less open to humorous interpretation was his threat to default on U.S. debt in the event of a recession. "I've borrowed knowing that you can pay back with discounts," he told CNBC. "I would borrow knowing that if the economy crashed, you could make a deal.”
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I know I've said this before, but this story is looking more and more like the story of how Hugo Chavez came to power in Venezuela. People tired of the massively corrupt two-party system, wanting to punish the establishment for recent big downturns in the economy and rampant corruption. A charismatic leader comes along telling people he will fix all the problems, proposing policies completely opposite to economic common sense, but that resonate with a large part of the resentful electorate. He gets elected, and you know the rest. Google "economy of Venezuela" If you want to see how the movie ends.
The US has an advantage: a political system that makes it hard for a single person or small group of people to screw everything up. But it will still not be pretty.