👉  Trumponomics  The Trump Economy Is A Mirage Based On Debt
Channel: The Nomad Economist
Date: 08/06/2020

Trumponomics  The Trump Economy Is A Mirage Based On Debt
Questioning the whole "Trump Economy" may seem in poor taste to those who have benefited so much but it is something we should do. The fact is Trump is not a rocket scientist something he most readily would deny, matter of fact he may not fully understand the economy. I base this on my observations of his reaction to many events that have occurred over the years. My conclusion is that Trump is not an economist but simply a businessman who loves the economy when it is in sync with his investments.

Trump engages the world on several levels, as both a communicator and as a politician he has displayed a style uniquely his own. With this in mind, it is important to remember Trump is a creature of the late 1900s and much of his success is rooted in inflation driving up real estate values and retaining that wealth by playing tax games. Throw in a few well-positioned bankruptcies that left his unfortunate investors and vendors under the bus and we are left with the real Donald. He could be described as a self-promoting charlatan that has in his own words "negotiated deals" that have allowed him to move forward.

The unexpected occurred when Trump was elected, the stock market soared and he quickly stepped up and declared the credit for the move was because of his vision. Oddly, Trump never was a stock guy but he now points to the market as proof of his success. Wall Street may have been on a roll since he took office but the economy on Main Street remains troubled. To those looking a little deeper into the American economy, it is clear many problems still exist such as growing inequality and more dependence on government spending. This spending and artificially low-interest rates, however, do not always lead to nirvana. This can be seen in the government bond sector where investors seeking safety have driven yields into the basement.

It does appear, however, that Trump does understand that bloated government spending drives the GDP ever higher. Whether it be military or infrastructure spending. This should give America great concern for today way too much of our focus is about Trump "in the moment" rather than "America going forward." It is difficult to ignore that immediately after taking office Trump loaded his cabinet with  Goldman Sachs executives, the same loathsome creatures that have created so many problems across the world. It seems Trump is more interested in the perception all is well than substance or the long-term health of the economy. This means we should not be surprised to find the economy is left flapping in the wind when all is said and done.

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