German economic ministry: A Trump presidency would destroy the US economy
Source: Reuters
01 OCT 2016 AT 08:13 ET
Germanys economy ministry believes a Donald Trump presidency would severely damage the U.S. economy, according to an internal memorandum reported by Der Spiegel magazine on Saturday.
The ministry expects shrinking gross domestic product, fewer jobs and higher unemployment, in the United States if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying.
Trump, a billionaire businessman seeking his first public office, has proposed tax cuts worth $4.4 trillion and wants to curb government regulation and take a tougher stance on negotiating trade deals. He says his economic plan would produce annual economic growth of 3.5 percent and create 25 million jobs over a decade. But some economists have questioned the assumptions underpinning the plan.
Trumps pledges are not feasible, Spiegel cited the memorandum as saying. Moreover, the plans would violate international or U.S. law and could be no basis for a realistic economic policy.
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Read more: http://www.rawstory.com/2016/10/german-economic-ministry-a-trump-presidency-would-destroy-the-us-economy/
smirkymonkey
(63,221 posts)A Trump presidency will be an international disaster.
Yallow
(1,926 posts)Help the rich rob the poor doesn't work.
Trickle down garbage is all they have.
bucolic_frolic
(42,672 posts)Everyone would be tweeting their anxieties at 3am
Supply and distribution channels would dry up
Manufacturing would stop
Hoarding would be the main activity of people of substance
Just like the Soviet Union - lines everywhere
Paladin
(28,202 posts)A Trump presidency would have a ruinous effect on domestic and world markets. I have several acquaintances who are talking about cashing out their retirement funds, should The Mad One make it into the White House. We ought to be beating this threat like a drum.
oberliner
(58,724 posts)Wouldn't a Dem majority in Congress be able to prevent those pledges from being implemented?
ancianita
(35,812 posts)Worse, he'd allow his billionaire cohorts to enrich themselves as they turn this continent into one big wasteland while churning out its water, oil and mineral resources for the rest of the world.
It would become the biggest polluted Pottersville in human history.
Old Vet
(2,001 posts)They must think were totally off our fucking rockers around the world