Nobel Prize - winning Economists give Trump policies a fail!

They lost me at...

Stiglitz cites ‘broad consensus’ Trump policies won’t work

Another broad consensus, huh? I guess we can all just stop thinking and take as gospel the conclusions of macro economists who believe that the destruction of the American and Canadian manufacturing base...and their Middle Class as a consequence...is simply a necessary "adjustment" in the long-term economic goal of having a global equilibrium that provides for all peoples everywhere equally.

That is a wonderful sentiment, except for the following little issues (which these egg heads should also plug into their economic model...as they are all known factors...before pontificating).

1) The planet does not have adequate raw resources to fully supply (feed, house and care for), or provide a comfortable existence for, today's global population. Therefore, there are going to be "haves" and "have nots"...which category do you want to be in America?

2) If we are to, or seriously attempt to, raise the average standards of living to those enjoyed by the "Western" societies, we are going to massively pollute the Earth with emissions and residues, we will deplete (faster than we are already) natural food stocks (like fish), run out of agricultural land and water.

3) The issue is not Free Trade, it is Fair Trade. If an individual prosperous Country, or Region, decides to adopt a "Free Trade" stance, under the current political definition of that, and open their borders to goods coming from less prosperous (and generally more populous) Countries which (a) pay very low wages, (b) have little or no employee benefits, (c) have little or no workplace safety standards, (d) have very low environmental regulations, (e) have very low land values and highly preferable tax regimes, (f) manipulate their currencies to keep them low versus Western nations and (g) put up trade barriers (covertly or overtly) to prevent finished goods from their "trading partners" impacting their own domestic markets - then you will have a trade disaster...which is what we have today.

The sad thing is that people, including these economists apparently, cannot only not see what serious economic erosion has already occurred - they can't seem to see what is coming next.

Let me try to summarize:

1) Manufacturing collapses, as cheap foreign-made goods flood the Western domestic markets
2) Economic efforts shift/slide toward an emphasis on Service (like Retail) Supply jobs and Intellectual Property creation
3) Domestic Online Sales, on a massive scale (think Amazon etc.) begin to seriously erode Retail jobs and networks
4) Industrial espionage (think hacking), carried out by our wonderful trading Partners, shifts technical innovation quickly to pirate nations...who turn these into more cheap and superior products
5) Trading Partners subsidize export transportation to allow shipping direct to consumers in Western Countries (thereby undercutting both Retail and Domestic Online Companies)...ever notice how many Hong Kong and mainland China Ebay sellers can offer "free shipping" (think Alibaba and Taobao)?
6) So, jobs at transportation concerns like UPS, Purolator, Fedex, etc. will boom for a while...that is until technology allows for driverless vehicles and delivery systems (not very far away).

Unless there is a Trump intervention, forget what these tenured boobs say, what is America's economy going to look like with (relatively) no jobs in manufacturing, retail or transportation. With the National Debt already at $20 trillion...how much longer can the Government continue to simply print money to support an ever-growing army of unemployed and underemployed people (unemployment benefits, welfare, food stamps, schooling, etc., etc. - and when that army would continue to grow under the Left's open border policies?

Will Trump's approach work..only time will tell. But to stay on the current course, well, that we can know for certain would lead to utter disaster.

originally posted by: Tiger5
OK You have a democratic right to disagree but how many of you are actually economists? Also how many of your have won Nobel Prizes in anything? No The Head of the bank of England did not win a Nobel prize and is not currently working as a senior economist!

Did any of you read the article?? All that I am seeing here is the same boring Fan worship that got us into the mess in the first place.

Here is the Western political mantra " The new POTUS can do no wrong". Now face the rising sun and chant it for two hours whilst clutching your money, as this will surely preserve your wealth!

Disgusted!

Hey Tiger the man has not taken office yet..

Plans change due to circumstances.

Trump has some smart people in his cabinet and due to wanting to make America great again, I have no doubt he will institute policies and procedures that will benefit the majority of Americans. If not, then there will be plenty of topics to complain about.

The ones who do not want to work and are on government handouts might need to find a new line of handouts which I say good luck ...

Now .... the opposition is not dead and is organizing behind the scenes to do everything within their power to have this POTUS fail no matter how many people are caught in the cross fire and hurt... The inauguration with the hard core protest that are being proposed in D.C. is but the tip of the iceberg they, the dissidents, are capable of and are planning.

Look on the bright side .... Bush, Obama, and the one world order crowd appears to be crumbling much like the EU experiment of open borders and unelected bureaucrats running individual countries. We have been at war every day since Bush was president.. I for one hope Trump reigns back in the war machine and directs America's efforts to more productive endeavors that will benefit our citizens instead of some pipeline for some of our back stabbing allies.

I for one would welcome the threat of nuclear war with Russia to be just a fleeting stupid thought that is cast to the trash heap of history and the war hawks sent to pasture to tell each other war stories just among themselves.

IMO Trump could never be as bad as Clinton but I figure we need to wait until the man is POTUS to see what is actually going to happen.. I am more concerned about the fake news headlines based on total lies trying to sway public opinion and what will possibly happen during the inauguration...

Maybe when Soros is prosecuted and jailed much of the B.S. will subside.. maybe not..either way I will cerebrate the day the inhuman human is no longer able to fund strife, mayhem, and suffering.

The economist have been saying the dollar was going to crash, buy gold, buy gold, and food for the last several years. Presently the dollar is one of the strongest in the world and gold is way down from its' high of over $1800 an ounce.. So just because someone has a title does not mean they are always right.. regardless if some award is given by like minded NWO idiots.

So IMO we have had to many years of NWO directed decisions and hopefully Trump will live long enough to institute some of the ideas his supporters believe he is talking about and wanting to do.