Trump says ‘everybody would be very poor’ if he’s impeached

UncleScoopy

Trump says ‘everybody would be very poor’ if he’s impeached

NOT The Onion. This one is real.

7 thoughts on “Trump says ‘everybody would be very poor’ if he’s impeached”

    1. Nature Mom and I don’t often agree, but Trump IS a huge asshole. And people said Trump would divide the country, but here he is bringing Nature Mom and I together!!!

      He is probably right that impeachment won’t be good for the stock market, but not everyone will lose money. Some people will short the market. So that makes him a huge STUPID asshole. What do you say Nature Mom? Care to agree with me? 🙂

      1. Eeehhhh, sort of. What he said was something like “everyone would be poor”, that’s different from the market declining.

        I think people overestimate the control a president has on the economy, especially short-term. Sure Bush the Younger’s actions (whipping out a law from the 1800s and using it to keep states from regulating lenders frinstance) pumped up the housing market. This made what should have been a correction become The Recession.

        But the market’s cyclical no matter who’s the boss. It’s growing like a cancer; it will go back down sometime. I agree that whatever the market does, a few dozen people will have bet on it to do that thing. Great for them, useless for everyone else.

        I absolutely agree that Trump is a stupid asshole. He’s shooting the legs out from under every farmer and industrial worker who voted for him so he can have his idiot Trade War.

        1. I agree with pretty much all of this.
          1.I got into a discussion in a chat room on the economy. An idiot Trump cultist asked me why I didn’t like Trump since ‘the economy was so great’ and I replied ‘if you understood economics you’d know about the concept of time lags.’

          He replied “So you think Obama deserves the credit?” I replied “Well, somewhat” but I was cut off before I could give the rest of my reply that ‘the people make the economy through hard work, smart work, investing and innovating’ and the President doesn’t play a large short term role.

          2.The one area where I disagree, and that while I don’t disagree there are market cycles, I do dispute that market cycles have to result in recessions. Slower and faster growth, but if people keep working hard, working smart, investing and innovating, and the Federal Reserve places a check on inflation and the government doesn’t run persistent high deficits, I don’t see any reason for a recession. If you look at the last three recessions including the Great Recession they were all a result of asset bubbles bursting, even the 1991 recession was a result of the re-emergence of inflation that was most likely caused by the large U.S government budget deficits.

          3.On the down side, in the case of Trump, when the specific Trump disease goes, I’m not sure that the conditions that led to Trumpism will also go away: the favoring of tariffs, the large government budget deficits, the arbitrary government involvement in the economy and the attendant increase in corruption. The clearest example of a nation that uses this sort of populist policies today outside of Venezuela is Argentina, and they have been engaging in this, and have been doing it as a democracy for much of the time, for over 100 years.

          According to the Economist, when Argentina starting engaging in these policies at apparently the start of World War I, they had one of the 10 largest economies in the world, according to the CIA World Factbook, Argentina now has the 89th highest per capital GDP.

          This reply site doesn’t seem to like posted links, but if you search for ‘Economist’ ‘economic decline’ the article is easily found. Well worth a read, and it was written before Trump became President.

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