Experts predict economic disaster with Trump plan

[Peacetrain]

https://www.yahoo.com/news/experts-predict-economic-disaster-trump-recovery-idea-065837562--election.html?ref=gs

The presumptive Republican presidential nominee suggested in a phone interview Thursday with CNBC that he would stimulate growth through borrowing. If trouble arose, he added, he could get investors to accept reduced payments for their Treasury holdings.

.....Nations usually print their own money and service their debt through taxes, unlike corporations that can sell off assets and equity stakes to manage debt or close up shop. Interest rates would spike if a government refused to pay what it owed as investors priced in the risk of default and became resistant toward lending.

"It would make a bad situation worse and increase U.S. borrowing costs on its debt going forward because we would have lost our credit rating," said Chad Stone, chief economist at the Center on Budget and Policy Priorities

[gordianot]

1. I take it this is Trump's personal strategy.

His secret gets out everyone will get rich.

[Peacetrain]

6. He says he "loves debt"

uf dah

[cwydro]

2. I predict all kinds of disaster with Trump.

And I'm no expert.

[Peacetrain]

5. True that!

I was listening this morning to a number of economic commentators and they are floored by how out of touch with reality Trump is..

[cwydro]

8. He's a scary guy.

I actually think he's way more liberal than he's playing it. But he's still an ass.

I think he is in way over his head.

[Peacetrain]

12. I do not know what his actual personal politics are..he is an opportunist

that much is for sure.. and will say or do anything .. Zero principles.. and he is truly scary because of that..

[Sam_Fields]

3. He will just get congress to pass the 'National Bankruptcy Amendment'

Then he can do to America what he has done to all the corporations he headed, the contractors, bond holders and banks who were never paid. MAKE AMERICA GREAT AGAIN or something something.

[Peacetrain]

4. I can see him doing that..

if he has the opportunity.. and wrecking the entire worlds economy

[WDIM]

7. The National debt is a scam

It is a tool to embezzle from the tax payer.

All Foreign held and Federal Reserve debt should be defaulted on. Only debts we owe are to our citizens and our soldiers.

The rest is a scam to make the rich richer and we don't owe the megawealthy anything.

[Peacetrain]

11. Greece is not a model I want to follow.. thank you very much

[WDIM]

13. Definately not we the people need to own our currency

We need to end the Federal Reserve and take our money supply back. Then we cancel all debts and only owe citizens.

Then the Government should cover it's expenses through taxes and printing money no more deficits.

[meaculpa2011]

14. I was in Peru in 1990 when...

the "Trump Plan" was tried.

The local currency, the Inti, fluctuated between 450,000 to the dollar and 780,000 to the dollar in the same week.

[WDIM]

15. I don't know anything about trumps plan

But the current debt and spend system in place was put there by the wealthy. Our Government collects taxes to pay the national debt and run up more deficits

When we run a deficit the Federal Reserve prints more money to cover the deficit than charges the tax payer interest.

Instead we tell the scammers to suck an egg and we pay our real debts and our treasury prints money interest free.

[Jeffersons Ghost]

9. K&R, this is only your first rec...

Odd how anti-trump posts vanish so quickly. This Opening Post matters!

[Peacetrain]

10. Can you imagine all the pensions tied up in treasury bonds

How it will effect those who can least afford to lose it.. and that does not even begin to address our international debt.. We go the way of Greece.. there is no Germany to pull our ashes out of the fire..