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It will, if nothing else, demonstrate the utter idiocy of thinking a real estate developer understood the economy better than a professional politician. Except
by moomin 9y ago
It will, if nothing else, demonstrate the utter idiocy of thinking a real estate developer understood the economy better than a professional politician. Except that the evidence will be explained away by anyone who believed that in the first place.
Downturns do favour anti-establishment candidates, so I'd pay attention to the Bernie wing in the next few years.
- seanmcdirmid 9y agoWhether the economy tanks will have little to do with Trump, even if he is incompetent. Bernie is probably too old to be a serious contender next time.
- moomin 9y agoI never replied to this, but I think the big challenge for the Bernie wing is showing they're bigger than one man. Hate the Trump wing all you want, but when he goes, there will be a replacement waiting in the wings.
- matt4077 9y agoTo be honest, the claim of any influence of a president's policy on the economy is tenuous, although the bailouts at the beginning of Obama's first term may be one of the exceptions. The only real fault you can find with Trump so far is how he's constantly claiming positive news from Wall Street and economic indicators as his successes. Since he started with almost full employment, he's almost assured to end his first term with a net growth in unemployment. Establishing the idea of being measured by those numbers is almost comically bad strategy. But I guess he and his sycophants will just go back to claiming that the statistics are manipulated.
- zeveb 9y ago> It will, if nothing else, demonstrate the utter idiocy of thinking a real estate developer understood the economy better than a professional politician. That sounds a little like 'the utter idiocy of thinking a sous chef understands particle physics better than a janitor': I see no reason why either profession would have an edge over the other. Frankly, neither is real business: real estate is easily as much about using public means to earn private profit as it is about working in an actual market, and of course politics is not a free-market business at all.
- moomin 9y agoI want you to imagine for the moment that people have been telling you repeatedly that the sous chef is an economic genius. And whilst I didn't say the janitor knows _more_ about economics, I think to fully complete your picture you should assume the janitor gets a lot of reading done and has read a single introductory macroecon text book in the last twenty years.