Economists

Donald Trump’s Insane Tariff Policy: An Economic Disaster If Ever Enacted!

Donald Trump is proposing massive tariffs on foreign nations and their goods, particularly China, without realizing such a policy is a true economic disaster!

History tells us high protective tariffs, as for instance under President Herbert Hoover nearly a century ago, with the Smoot Hawley Tariff of 1930, helped make an economic downturn escalate into a full scale Great Depression!

Back then, hundreds of economists took out an ad in the NY TIMES, pleading with Hoover to veto such action, but he paid no attention, and it caused his demise to Franklin D. Roosevelt in the Presidential Election Of 1932.

What Trump clearly does not understand is that it is middle class and working class Americans who will suffer the most, as prices of all kinds of imported goods will rise 20 percent or more, adding massively to the cost of living.

Trump is ignorant on economics, along with many other areas of knowledge and policy, and were he elected and able to accomplish his crazy economic ideas, it could lead to another Great Depression!

So the Presidential Election of 2024 is crucial on economic policy, as it is on so many other issues!

Trump, The Most Repudiated Presidential Nominee In American History, Starts Off With Controversial Appointees

Donald Trump not only is the most unpopular President in American history in public opinion polls before his election, and not only in the popular vote margin of his opponent, Hillary Clinton, nearing one million and counting, but also in the total repudiation of his candidacy by:

Republicans who refused to endorse and support him
Conservatives who also refused to endorse and support him
Economists who warned against his election, as dangerous to the economy
Historians who warned against his election, looking at history
Defense and Security personnel who thought he was dangerous
Diplomatic personnel who were alarmed at his nomination
Newspapers that were traditionally Republican and conservative endorsing his opponent
Foreign Governments alarmed by his candidacy

Now all of these opponents must come to grips with the fact that Donald Trump is our President Elect, and alarm is spreading, as Trump has announced Stephen Bannon as his Senior Counselor and Chief Strategist in the White House, despite his misogyny, racism, nativism, antisemitism, islamophobia, homophobia and white supremacy views.

Trump also is considering neocon John Bolton, a highly abrasive personality, who was a controversial recess appointment as UN Ambassador under George W. Bush, to be Secretary of State, with the leading alternative being abrasive and egotistical former Mayor Rudy Giuliani of New York!

“Smart People”: Economists And Scientists, Overwhelmingly, Support Obama! Should We Ignore Them At Our Detriment?

An overwhelming number of economists and scientists have made public declarations, as groups and individuals, endorsing Barack Obama for a second term, as the better path to the future in both areas of their concern.

Should we ignore their advice, because after all, as former Senator Rick Santorum said, “smart, educated” people will never support the Republicans, a statement that says a lot about both Santorum and his right wing party, way out of the mainstream?

Should we be resentful because many of these economists and scientists have gone to the “best” universities, and have the highest degrees in their fields, and most Americans do not have these advantages?

Or should we be resentful, instead, that many Americans instead look up to those who cheat in sports, cheat in business, cheat in human relations, and are only concerned about the almighty dollar over human needs and the facts about economics and science, and allow religion and worship of business to overtake their sense of morality and ethics?

The author is not a graduate of a “prestigious” university, and is not an honored figure, as these economists and scientists are, but he is also not resentful of their brilliance and intelligence, and respects their judgment much more than someone promoting religious hypocrisy and dog-eat-dog business tactics as the goal to teach our children, and feels that these elements should not be promoted for the future of American democracy!