18h ago

Donald Trump just proved he’s an economic idiot. Again.

newrepublic.com Donald Trump Just Proved He’s an Economic Idiot. Again.

His MAGA sycophants knew all along that his central economic proposal was a sham, but they repeated his lies. And now the economy is cracking.

Summary

Trump's economic policies, particularly his tariffs, are proving disastrous after being "sanewashed" by media during the campaign.

After making tariffs central to his campaign, he twice imposed them—only to backtrack amid market turmoil. Despite clear evidence that tariffs are taxes that raise prices, his allies continue pushing economic falsehoods.

Meanwhile, Trump’s pledge to balance the budget contradicts his record, as he added $2.1 trillion to the deficit, while Democratic presidents have historically reduced it.

His proposed $7 trillion tax cuts, paired with $4.5 trillion in spending cuts, would create massive deficits and harm working-class Americans.

politics @lemmy.world

Donald Trump Just Proved He’s an Economic Idiot. Again.

newrepublic.com /post/192464/donald-trump-tariffs-flip-flop-economic-idiot

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Trump Watch @lemm.ee

Donald Trump Just Proved He’s an Economic Idiot. Again.

newrepublic.com /post/192464/donald-trump-tariffs-flip-flop-economic-idiot

49 0

34 comments

When you understand that crashing the economy makes him and wealthy investors richer, it makes sense what he's doing. The sane washing is because the people telling you it makes sense are owned by people who stand to make a lot of money. If people lose their homes, that building doesn't just disappear. It gets bought by investors for cheap who then rent it out. Collapsing economies is how wealthy collect more assets and passive income. A great explanation here by Gary Stevenson: https://youtu.be/XCnImxVWbvc

There is no 200 IQ 4D chess plan. He just wings it as he goes. He says and does whatever “feels good” to him at the moment with zero regards to consequences, consistency or truth. He doesn’t consult experts, he doesn’t study anything because he thinks he knows everything about everything already. He is simply lucky when things go his way and is really good at shifting blame when they don’t.
- He's not even good at shifting blame. He has an audience that believe quite literally everything he says.
  
  That's decades of lead poisoning for you!
  Makes me wonder what the microplastics have in store for us? If all we get is an "I love you" from our Costco greeter and hand jobs on the menu at Starbucks we'll be lucky.
- at least during his first presidency he had a well-oiled infrastructure to rationalize and capitalize on any bullshit that came out of his mouth. He doesn't have those people around anymore.
  Also this is why I've given up on "conservative intellectuals". They claim interesting things that could make sense in certain contexts (even if I disagree with those), but the moment trump says something, they abandon these values and bend over backwards to rationalize his stupid shit.
- I'm pretty sure the "4d chess genius" thing was satire to start that just got Poe's lawed.
  
  The actual origin was darker than that.
  It comes from Steve Bannon’s (not trump’s) plan to take control of the government by moving tens of thousands of people (pieces) into strategic places in state legislature over the course of the past 8 years, culminating in the Supreme Court. Bannon referred to it as playing 4D chess in articles on Brietbart and podcasts like 10 years ago.

Again. Why do people insist his policies are smart?
- I'll never not laugh at this scene. So so good.
- They don't think it's possible to be rich and not smart. To them his wealth has a halo effect on everything else he does.
- Because Trump said so. Don't you believe Trump? He's the smartest!
  
  He said so himself, so it must be true. People who disagree are publicly reprimanded by him so they must be wrong!
  /s, because we’re in that place again….
- Its a cult full of morons. Its that simple.
- Because they’re in denial about being conned by an idiot. After all, if you get conned by an idiot, what does that make you? It’s easier for them to pretend he’s got some genius plan.

Only an economic idiot?
- No. Over use of adjectives here. Better to be concise.

If bankrupting a casino wasn’t enough then idk what else evidence these dumb fucks need
- It bugs me when people cite the casino going bankrupt as an example of his idiocy, I'm sure it was an example of his malice.
  I'm sure if you look Into that casino failing, he probably stole the funds. Why keep a business going making a few million a year and pay taxes on that, when you could take like 20 million right now, and not pay taxes on it.
  
  He threw in the towel because the casinos were being investigated for money laundering and the regulations were expected to increase oversight.
  They were always a scam just to launder criminal funds.
  
  It bugs me more because it wasn't a casino, it was three casinos.
  
  It can be both things. He’s bad at business because his solution to running everything equates to some type of fraud rather than any talent or skillful thinking. It doesn’t take skill to commit fraud, you just have to be a piece of shit.

To be fairish, he's more a lying sack of shit than an idiot, but that aside....
- Porque no los dos?
  Don’t deport me.
  
  TARRIFED
  
  I guess I should've been clearer.
  He's obviously both. He's more of a lying sack of shit than he is an idiot.
  And as I just tried to point out elsewhere, that's not to say that he's not an idiot - just that he's even more of a liar.
- I’m not sure what he’s done to get the benefit of the doubt on intelligence. He literally asked if it was possible to cure COVID by injecting bleach or shoving a UV light up your ass. https://www.bbc.com/news/world-us-canada-52407177
  His own staff members have called him a “moron.” And he’s bankrupted 6 companies. If there’s evidence he’s smart, I haven’t seen it.
  
  I didn't say he was smart - I said he's even more a lying sack of shit than he is an idiot.

Despite clear evidence that tariffs are taxes that raise prices, his allies continue pushing economic falsehoods.
Evidence such as the definition of the fucking word?

He’s proven it at least once a year since 1980.

i dont remember much sanewashing in the media, maybe i consume biased media but pretty much everything i saw said tarrifs were an likely to cause recession.

34 comments