There is a good chance that Donald Trump’s big rhetoric will shrink when it meets reality – not because he has had a change of heart, but because financial markets will balk at some of his notions
Are you suffering from Trump Return Syndrome? Those of us afflicted with the disease know the symptoms: Disturbed sleep. The urge to shout obscenities at the television. A growing fear of red ball caps.felon
“Almost everywhere you look in the world of affluent democracies, the exact same thing is happening,” writes Matt Yglesias, the U.S. political pundit. “The incumbent party is losing and often losing quite badly.” Maybe, then, the correct take on the U.S. election isn’t surprise that Donald Trump won, but surprise that Kamala Harris did as well as she did. That is a consoling thought, because it suggests a more normal political balance will be restored once we move further away from the inflationary surge of the pandemic.
Back then, Mr. Trump inherited a dream situation, one with ample room to manoeuvre. The U.S. economy was growing at a moderate 2.2 per cent a year clip with low inflation, falling unemployment and a modestly valued stock market. The budget deficit stood at 3 per cent of output – a bit high by historical standards but a huge improvement from the 8-per-cent-plus deficits of the financial crisis.
This is not a situation that leaves a lot of room for big moves, especially for someone who prides himself on stock market performance as much as Mr. Trump does.he has promised, he will swell the already enormous deficit. Bond buyers might well demand higher interest rates to finance the supersized budget gap, and those higher interest rates would not be good for the federal budget or for stock prices.
People Inflation Growth Power Defeat World Thought Matt Yglesias Liberal Democratic Party Greenland
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