This is Lawrence Summer on those who predict Trump won't win.
"Finally, there is the question of uncertainty and confidence. Improving business confidence is the cheapest form of stimulus. Creating an environment where every tenet of the rule of law, internationalism and consistency in policy is up for grabs would be the best way to damage a still fragile US economy. In no election in my lifetime has a major party candidate for president been so dangerous for the economy."
"Markets are discounting the possibility of a Trump presidency. Let us all pray they are right."
http://larrysummers.com/2016/06/06/the-economic-consequences-of-a-trump-win-would-be-severe/
"A Trump Presidency will have dire effects on the economy."
"Yet, as great as the risks of Brexit are to the British economy, I believe the risks to the US and global economies of Mr Trump’s election as president are far greater. If he is elected, I would expect a protracted recession to begin within 18 months. The damage would be felt far beyond the United States."
Trump always sells his 'uncertainty' as a good thing. He is not going to tell us what he's going to do.
"Finally, there is the question of uncertainty and confidence. Improving business confidence is the cheapest form of stimulus. Creating an environment where every tenet of the rule of law, internationalism and consistency in policy is up for grabs would be the best way to damage a still fragile US economy. In no election in my lifetime has a major party candidate for president been so dangerous for the economy."
"Markets are discounting the possibility of a Trump presidency. Let us all pray they are right."
http://larrysummers.com/2016/06/06/the-economic-consequences-of-a-trump-win-would-be-severe/
"A Trump Presidency will have dire effects on the economy."
"Yet, as great as the risks of Brexit are to the British economy, I believe the risks to the US and global economies of Mr Trump’s election as president are far greater. If he is elected, I would expect a protracted recession to begin within 18 months. The damage would be felt far beyond the United States."
Trump always sells his 'uncertainty' as a good thing. He is not going to tell us what he's going to do.
http://nymag.com/daily/intelligencer/2016/01/trump-voters-want-unpredictability.html
Meanwhile. Scott Sumner nails Trump again.
"Now we find that things are even worse than we imagined. Surely a New York businessman who made lots of money in real estate must at least be a good manager. Nope, he’s perhaps the worst manager ever to run for President of the United States. Here’s The Economist:
"THROUGHOUT the presidential primary contest, Donald Trump’s claim to be self-funding his campaign always drew loud cheers. Part boast—“I’m like, really rich” he would smirk—and part a badge of incorruptibility, the claim allowed the property developer to paint all his Republican rivals as puppets of special interests. Voters at campaign rallies would reliably cite his supposedly vast wealth, and the independence it brought, as one of their biggest reasons for trusting the businessman."
"Loyal Trump supporters forgave their champion when he secured the nomination and abruptly changed his tune, boasting in early May that he would create a “world-class finance organisation” to solicit donors and fill war chests for himself and for the Republican Party. The same Trump loyalists will doubtless shrug off headlines that greeted the release of campaign-finance reports for the month of May, showing that he raised just $3.1m from donors and has just $1.3m cash on hand—sums dwarfed by Mrs Clinton’s campaign, which raised over $26m in May and started June with $42.5m in cash on hand. Mr Trump himself sounded defiant, asserting that he could spend “unlimited” sums of his own money if needs be."
"That’s a mindbogglingly poor performance for a Presidential candidate, it’s what you’d expect of a Congressional candidate. And a substantial portion of the funds raised are used not to promote his campaign, but rather to enrich his own businesses, such as “Mar-a-Lago”:
"So he’s also corrupt. Fundraising is one of the first cases where we’ve been able to judge Trump’s ability to get things done. And he failed miserably. In retrospect, this should not have been a surprise. Contrary to widespread opinion, Trump has not had a successful business career, rather he’s been really lucky. First he inherited $40 million from his dad, back in the 1970s. If he’d just put the money into an index fund he would have done about as well as he’s actually done. (We don’t know exactly how rich he is, and he won’t provide adequate documentation.)"
http://www.themoneyillusion.com/?p=31812
Yes. He's corrupt, not a billionaire, and so raising money from suckers who believe who believe he is a billionaire.
Meanwhile. Scott Sumner nails Trump again.
"Now we find that things are even worse than we imagined. Surely a New York businessman who made lots of money in real estate must at least be a good manager. Nope, he’s perhaps the worst manager ever to run for President of the United States. Here’s The Economist:
"THROUGHOUT the presidential primary contest, Donald Trump’s claim to be self-funding his campaign always drew loud cheers. Part boast—“I’m like, really rich” he would smirk—and part a badge of incorruptibility, the claim allowed the property developer to paint all his Republican rivals as puppets of special interests. Voters at campaign rallies would reliably cite his supposedly vast wealth, and the independence it brought, as one of their biggest reasons for trusting the businessman."
"Loyal Trump supporters forgave their champion when he secured the nomination and abruptly changed his tune, boasting in early May that he would create a “world-class finance organisation” to solicit donors and fill war chests for himself and for the Republican Party. The same Trump loyalists will doubtless shrug off headlines that greeted the release of campaign-finance reports for the month of May, showing that he raised just $3.1m from donors and has just $1.3m cash on hand—sums dwarfed by Mrs Clinton’s campaign, which raised over $26m in May and started June with $42.5m in cash on hand. Mr Trump himself sounded defiant, asserting that he could spend “unlimited” sums of his own money if needs be."
"That’s a mindbogglingly poor performance for a Presidential candidate, it’s what you’d expect of a Congressional candidate. And a substantial portion of the funds raised are used not to promote his campaign, but rather to enrich his own businesses, such as “Mar-a-Lago”:
"So he’s also corrupt. Fundraising is one of the first cases where we’ve been able to judge Trump’s ability to get things done. And he failed miserably. In retrospect, this should not have been a surprise. Contrary to widespread opinion, Trump has not had a successful business career, rather he’s been really lucky. First he inherited $40 million from his dad, back in the 1970s. If he’d just put the money into an index fund he would have done about as well as he’s actually done. (We don’t know exactly how rich he is, and he won’t provide adequate documentation.)"
http://www.themoneyillusion.com/?p=31812
Yes. He's corrupt, not a billionaire, and so raising money from suckers who believe who believe he is a billionaire.
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