Economists Warn Trump Will Reignite Inflation \ stacker news ~econ

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Economists Warn Trump Will Reignite Inflation www.cnbc.com/2024/06/25/nobel-prize-economists-warn-trump-inflation.html

467 sats \ 15 comments \ @siggy47 25 Jun econ freebie

Many of these same economists signed a September 2021 letter in favor of President Biden’s Build Back Better investment package.

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’s,” the economists wrote.

Partisan clowns. If they were real economists they would admit we're screwed with either one of them.

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108 sats \ 0 replies \ @TheBTCManual 26 Jun

Lol did it ever go away? And what president when sworn in doesn't immediately get into spending, looks like they priming people for what's to come, so don't moan

107 sats \ 3 replies \ @Undisciplined 25 Jun

It's so hard to anticipate what Trump will do, because he says so many contradictory things.

He has said that he loves low interest rates.
Also, pro-Bitcoin is the most inflationary (in the nominal fiat price sense) position possible.

63 sats \ 2 replies \ @siggy47 OP 25 Jun

Remember how he would hound Powell to lower interest rates? Either way things will be bad.

85 sats \ 0 replies \ @Bell_curve 26 Jun

Powell and FOMC ignored Trump entreaty to lower rates.

In hindsight I think Powell raised rates in 2019 to hurt Trump politically

Powell was also a questionable choice to lead the Fed in 2018

86 sats \ 0 replies \ @Undisciplined 25 Jun

I don't think it's going to matter much, because they're going to let the bottom fall out if it looks like Trump's going to win.

I'm not sure what to expect if it looks like Biden's going to win. Probably the same, but they'll blame it on Trump somehow.

75 sats \ 0 replies \ @jgbtc 26 Jun

Trump winning is the best thing that can happen to these goons. Then they can blame the coming shit storm on him. It doesn't matter who the president is, USD is failing either way.

54 sats \ 0 replies \ @TomK 26 Jun

I don't see anyone in politics far and wide who is intellectually and ethically capable of seeing through what printing money does to society. of course, Trump is also one of those who prefer low interest rates, i.e. cheap money. it's not for nothing that he made his fortune with real estate!

54 sats \ 0 replies \ @Bell_curve 27 Jun

I forgot to mention the economists described themselves as nonpartisan researchers in their joint letter.

Too many letters being written and signed. Are they using docusign?

75 sats \ 3 replies \ @Satosora 26 Jun

Man, inflation is really getting out of hand. I used to remember a cheeseburger used to be 1.25. Sometimes you could get a deal for 2 for $2. Now its 5 dollars.

21 sats \ 2 replies \ @398ja 26 Jun

Today, I paid a £608 invoice for my little one's swimming classes. Last term's invoice was £570 And before that, £456 I am seriously considering teaching him swimming myself!

42 sats \ 1 reply \ @Signal312 26 Jun

I highly recommend teaching your kids swimming yourself. With the first, we did one short set of swimming lessons at the age of 3 or so. It was cold and unpleasant and regimented, and he didn't learn to swim anyway.

After that we just went to a nearby pool regularly in the summer, and allowed him to have fun in the water, just playing around naturally. And then you give a little hint occasionally about strokes, and boom, they're swimming.

0 sats \ 0 replies \ @398ja 26 Jun

This is a good plan. 🙏 I'll son have no choice anyway...

54 sats \ 0 replies \ @Bell_curve 25 Jun

Budget talks should be interesting this summer.

Biden latest proposal is 8 trillion dollar budget. I believe it’s currently at 7 trillion. These figures are unsustainable

I remember noticing inflation around Christmas 2021. Why are potato chips so expensive???

54 sats \ 1 reply \ @Bell_curve 26 Jun freebie

Signed a joint letter

Well, since they signed a letter, which is like lying in a civil deposition, 16 Nobel prize winning economists must be telling the truth about inflation and Trump!

“There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,” wrote the group of politically progressive academics.

I like how tax and spending cuts are fiscally irresponsible

I fail to see the connection between tax cuts and inflation.

Joseph Stiglitz, who won the Nobel Prize in 2001, led the effort to publish Tuesday’s letter. His co-signers include George Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric Maskin, Daniel McFadden, Paul Milgrom, Roger Myerson, Edmund Phelps, Paul Romer, Alvin Roth, William Sharpe, Robert Shiller, Christopher Sims and Robert Wilson.

“Nonpartisan researchers, including at Evercore, Allianz, Oxford Economics, and the Peterson Institute, predict that if Donald Trump successfully enacts his agenda, it will increase inflation,” the economists wrote.

Some of these Nobel prize winners have also been knighted

0 sats \ 0 replies \ @Bell_curve 26 Jun

“The American people don’t need worthless out of touch Nobel peace prize winners to tell them which president put more money in their pockets,” Trump campaign spokesperson Karoline Leavitt said in a statement

Stiglitz observed that some people “invoked fears of inflation as a reason to not undertake” the Build Back Better investments. “This view is short-sighted,“ he said in a press release.