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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump Confronted With Reality That His New Economic Idea Would Destroy The Global Economy
Trump Confronted With Reality That His New Economic Idea Would Destroy The Global Economyby Alan Pyke at Think Progress
http://thinkprogress.org/economy/2016/05/08/3776377/trump-default-you-never-know/
"SNIP.............
Hours after locking up the Republican presidential nomination this week, Donald Trump suggested that defaulting on the national debt could be a good thing. Economists and financial observers pointed out that his proposal to buy back U.S. debts for less than what America borrowed would send interest rates soaring and cripple the dollars vital status as the worlds safest investment.
Pressed to explain why he thinks a huge national lender like China would accept a loss on their investment in the United States on Sunday, Trump offered only a verbal shrug.
You never know, he told ABCs George Stephanopoulous. At some point, they might want to get out. Maybe they need their money, they might wanna get out.
It is extremely unlikely that any holder of U.S. bonds would take the sort of desperate need-cash-now approach to those investments that Trump imagines. But even if that did happen, the outcome wouldnt be good for anyone involved. If Trump yanked the rug out from underneath the global financial system in this way, the resulting instability would slaughter the economy.
..............SNIP"
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Trump Confronted With Reality That His New Economic Idea Would Destroy The Global Economy (Original Post)
applegrove
May 2016
OP
Jeffersons Ghost
(15,235 posts)1. K&R where do Trump-trolls think this Opening Post is going?
No recommendations on a factual Opening Post with a reasonable link? Let's all consider the wider ramifications of worldwide economic collapse and give this idea some publicity.
lindysalsagal
(20,791 posts)2. I really believe the Senate and Congress would impeach him
And his VP and install the speaker of the house, if americans were stupid enough to elect him.
But absolutely no one thinks he can get the job. Many GOP members are announcing they won't support him.
It could be a really ugly convention.
What if the RNC refused to put on the big show and didn't bring in the speakers, or let the speakers trash him???
They could. Nothing stopping them.
What if there was nothing for the networks to cover but a couple of lack-luster votes???
Jeffersons Ghost
(15,235 posts)3. In our dreams modern Republican presidents get impeached...
Impeachment is only for working class heroes.