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The U.S. economy would be a big loser if Donald Trump wins the presidential election and imposes new tariffs on imports from China, according to Nobel laureate Joseph Stiglitz.
The end result would be a trade war, a correction in U.S. living standards and a net loss of American jobs.
Trump’s trade policies would send US into recession, study says
The study released on Monday by researchers at the non-partisan Peterson Institute for International Economics illustrates how, even as the New York businessman pledges to boost growth and create millions of jobs, most mainstream economists view his economic policies as dangerous quackery.
Guess no one cares that Trump is oblivious to economics and most economists agree it would be absolutely destructive. Just goes to prove Trumpers don't actually care about his policies, they just worship his cult personality.
Laughable when using the "Nobel" anything as a credible source for economics or piece. That gave it to Obama for piece who didn't do anything. Maybe it was his assignation drone policy that got them all excited.
Did Stiglitz win the Nobel prize for his understanding on the American economy ? No, no he didn't.
Stiglitz's most famous research was on screening, a technique used by one economic agent to extract otherwise private information from another. It was for this contribution to the theory of information asymmetry that he shared the Nobel Memorial Prize in Economics in 2001 "for laying the foundations for the theory of markets with asymmetric information" with George A. Akerlof and A. Michael Spence.
Economist deal with theory. The same thing Alan Greenspan operated on that after 25 years he admitted it was flawed. It didn't work the way he thought it did and made many a decision on the incorrect theory.
I did really like how he did that self-congratulation today about being right when he popped off the plane and said it was a bomb. I'm sure the injured people appreciated his concern. <sarcasm>
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