Trump Lies. Never Forget That

“to give credit where it’s due, it looks like the main reason that stocks have taken off again lately is because Trump has promised to unveil a “phenomenal” tax plan soon.”
 
See Trump isn’t killing the bull market. Here’s why
I would have fallen off my chair when I read the quotation to the right except that I’m overweight and my bottom is rather wide…

It’s true that folks thinking of the short term are pleased with the words of Trump, mostly, but when you figure out what proportion of the sentences he utters are out and out lies, there is a longer term problem. Trump has promised to cut taxes. He’s given a recipe. He’s also promised to build a 2000 mile concrete wall with backup and a road and sensors, lots of new toys for the military, jobs for all, infrastructure like we haven’t seen since the 1970s, keeping out immigrants of all kinds, keeping all the benefits of Obamacare and breaking trade agreements…

Do the maths. If you cut taxes and spend $trillions, the national debt grows, by leaps and bounds. You may get a short term boost to the economy but those are not real jobs, building infrastructure. They terminate with the contracts. Trump has promised to negotiate better purchasing deals. I guess he figures it’s OK to funnel contracts to his friends. That’s what he did in Trump Inc., but USA has laws requiring competitive bidding. Is he going to allow low-ballers to get the contract and then beat them down? It’s still new money however corrupt and it adds to the debt. At one point he promised to nullify the debt. Then you will see capital running for the hills and I will be ready with portfolios full of gold. The long term will be full of wailing and gnashing of teeth if Trump gets through half of his agenda. So far the Congress seems gutless enough to let that happen. Will they wake up when they do the maths?

About Robert Pogson

I am a retired teacher in Canada. I taught in the subject areas where I have worked for almost forty years: maths, physics, chemistry and computers. I love hunting, fishing, picking berries and mushrooms, too.
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5 Responses to Trump Lies. Never Forget That

  1. Deaf Spy says:

    Investment in any business leads to new spending, more jobs and growth.

    “More deposits in off-shore banks” is not spending.

    Minimum wage is counter productive and damaging for businesses. In both short and long term is leads to permanent job losses. Jobs, subjected to the rules of minimum wage, are the easiest to optimize / automate / robotize once the costs exceed certain threshold. There are already shops in USA without cashiers. Minimum wage will just speed up replacing people with machines.

  2. ram says:

    Wow, I don’t believe it, a statement from dougman than I agree with!

    “…ALL politicians lie…”

    Yes, they certainly do, and in Australia they lie all the time without exception.

  3. Deaf Spy wrote, “Cutting taxes leaves more money to people and small businesses, who can’t afford accounting magic. More money for people always means more spending.”

    Sure, it leads to more spending. More investment in gold mines, for instance. More deposits in off-shore banks. It doesn’t lead to more jobs, however. We saw that with Reagonomics. The rich got richer. The poor stayed poor. It’s interesting that the same guys who are all in favour of tax-cuts for the wealthy are against a minimum wage so a worker can actually feed/clothe/shelter his/her family on one job. Look at the wealthy who are in Trump’s cabinet. Do you think any of them are out to help the workers? The guy up for “labour” is anti-labour.

  4. Deaf Spy says:

    Robert, I am afraid your knowledge in Economics is far poorer than you knowledge in IT. Which, in turns, is rather poor as clearly demonstrated here.

    Cutting taxes leaves more money to people and small businesses, who can’t afford accounting magic. More money for people always means more spending. That directly translates to increased production and import. Considering that Trump plans to make imported goods more expensive, that would definitely have a good effect on local production. That will surely boost artisan and small production centers.

    Enough for a free course. You know, being an university associated professor and company owner myself, this is all I’d do for free for now. 🙂

    P.S. Once again, I hold no love for Trump or Hillary.

  5. dougman says:

    Pogsey, you are failing to realize that ALL politicians lie. Even Trudope does it.

    http://www.torontosun.com/2017/02/05/on-electoral-reform-trudeau-didnt-just-break-a-promise–he-lied

    “I would have fallen off my chair when I read the quotation to the right except that I’m overweight and my bottom is rather wide”

    Are you sure the EV you are dreaming about, is going to support and fit you?

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