Trump’s latest comments over the weekend regarding the economy are interesting but still fall short of reality. He argues the unemployment number is really in the 20%+ zone, and the number that was provided was deliberately contrived to make politicians look good. That is basically true, but his number is a bit high. He says the stock market is overvalued, which is clearly the traditional view since whenever you say “economic downturn” they assume bonds up and stocks down. That will not hold true when people realize the bubble is in bonds; not stocks.
Then Trump vowed to pay off the national debt be renegotiating trade deals within eight years. Sorry, that is just impossible. He also vows to break NATO if other countries do not pay. That, at least, is long overdue. So Trump grabbed the headlines by predicting a massive recession ahead. There he is correct, but he is off the mark in comprehending its cause and outcomes.
