Hundreds of economists denounce Trump on an open letter to voters - Social Anxiety Forum
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post #1 of 2 (permalink) Old 11-02-2016, 08:54 AM Thread Starter
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Hundreds of economists denounce Trump on an open letter to voters

With so many Republicans, world leaders and now economists warning voters against deplorable Donald, why are his supporters sticking their fingers in their ears?

Nearly 400 economists have signed an open letter to voters denouncing Republican presidential nominee Donald Trump and telling voters to "choose a different candidate."

"Donald Trump is a dangerous, destructive choice for the country," the letter said. "He misinforms the electorate, degrades trust in public institutions with conspiracy theories, and promotes willful delusion over engagement with reality."

The economists did not specifically endorse Democratic nominee Hillary Clinton in the letter.

Among prominent economists who signed the letter were Oliver Hart, the Harvard University professor who won a Nobel Memorial Prize in Economic Sciences this year, and Paul Romer, the chief economist of the World Bank.

The economists — a mix of professors, Ph.D. candidates, and policymakers — said they opposed Trump's campaign based on the Republican nominee's history of promoting falsehoods and misleading the public.

The economists wrote, among other things, that they were concerned that Trump:

"Misled voters in in states like Ohio and Michigan" by saying that renegotiating the Nafta trade agreement would increase employment in manufacturing. The economists said manufacturing losses were due mostly to automation and not trade.
"Claims that he will eliminate the fiscal deficit" while proposing a plan that the Tax Foundation says would decrease tax revenue by $2.6 trillion to $5.9 trillion.

"Uses immigration as a red herring to mislead voters about issues of economic importance," including the stagnation of wages in households with lower education levels, which the economists say "diverts the public debate."
"Misled the public by asserting that U.S. manufacturing has declined," though the economists point out that the level of manufacturing output in the US has more than doubled since 1980.
"Has lowered the seriousness of the national dialogue" by proposing that the elimination of government departments such as the Environmental Protection Agency and the Department of Education would significantly reduce the fiscal deficit.
"If elected, he poses a unique danger to the functioning of democratic and economic institutions, and to the prosperity of the country," the economists wrote.

Nineteen Nobel laureates in economics, including Joseph Stiglitz and Daniel Kahneman, published a separate open letter on Monday endorsing Clinton for president.

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post #2 of 2 (permalink) Old 11-02-2016, 10:02 AM
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The conventional wisdom is that, right off the bat, the stock market would fall precipitously. Simon Johnson, the Massachusetts Institute of Technology economist, posited that Mr. Trump’s presidency would “likely cause the stock market to crash and plunge the world into recession.” He predicted that Mr. Trump’s “anti-trade policies would cause a sharp slowdown, much like the British are experiencing” after their vote to exit the European Union.

He's Huuuuuuge. A huge recession.

It's crazy that uniformed slack jawed hicks can pick a president using the same system they choose an American Idol with.

If you have any money in Stocks, and you think Trump will win, better take it out now.

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