What does a TRUMP presidency look like?

[The Minsky Moment]

3) He seems to think that a trade deficit works the same way as a budget deficit

Clearly not true.  Trump is a huge fan of budget deficits, his policy is to increase them as much as politically feasible to keep massaging those quarterly GDP numbers.

Trade deficits are bad, however, because they have the word "trade" in them, and "Trade is bad".  So "trade deficits" just means "bad deficits".

[crazy canuck]

Thank you.  That actually makes more sense 

[The Brain]

Trump begins his UN speech by saying his administration has accomplished more than "almost any administration in the history of our country." There is some laughter in the hall. "So true," he says. The laughter gets louder. "Didn't expect that reaction," Trump says

I had to watch this. Shit's so painful in a hilarious way. America sure enjoys public humiliation.

[FunkMonk]

Remember that White House Correspondence Dinner several years ago where Obama was lighting up on Donald and Don had to sit there with a shitty grimmace on his face while everyone was laughing at him?

[The Minsky Moment]

Thank you.  That actually makes more sense 

You got to remember - budget deficits just mean more debt and borrowing. Trump knows all about that.  Borrow as much as you can, go wild with the proceeds, and when the collector comes due, leave someone else holding the bag.

It's not like four bankruptcies taught Trump the virtues of thrift.

[derspiess]

Weren't you in favor of deficits/debt when Obama was president?

[Syt]

So it seems that the "doppelganger" theory was pushed by Creative Response Concepts (CRC), also known for their involvement in Swift Boating Kerry:
https://www.politico.com/story/2018/09/21/ed-whelan-kavanaugh-tweets-pr-firm-836405

Looks like they shared a client with Mr Manafort in 2005, Viktor Yanukovych of Ukraine: https://efile.fara.gov/docs/5705-Exhibit-AB-20051116-2.pdf

[The Minsky Moment]

I was in favor of deficit spending when an economy is in recession - i.e. negative or near zero GDP and high unemployment. 

I also favor debt financing of infrastructure projects . However, Trump has done nothing material on infrastructure except talk.

The Trump deficits are funding spending increases at the Pentagon and a cut in corporate tax and big cuts in taxation to real estate partnerships and other pass-through investment vehicles.  The corporate tax cuts are unlikely to have much growth impact because companies could already expense investment. The defense spending, while justifiable from a national security rationale, is economic deadweight.  These are not sustainable fiscal commitments.

The question you should be asking is why the Tea Partiers who wanted to revolt over deficits enthusiastically support this policy.

[Valmy]

The question you should be asking is why the Tea Partiers who wanted to revolt over deficits enthusiastically support this policy.

Probably because nobody actually cares about deficits and it is all political theater.

Well ok I like to think somebody cares about deficits, but let's be real.

Austerity doesn't win too many votes...I mean besides mine.

[Oexmelin]

Kavanaugh's denial.  The other alleged perp's denial.  Kavanaugh gives me an honest vibe. Her refusal to testify in front of the committee. You obviously have to deeply discount the claims about Ford listed in Syt's Facebook Follies post, but the statements are more precise (and fact checkable) than your typical internet retard attempt at character assassination.

Same question for the people who believe her.

I am curious if you still have the same feeling about the whole thing.

[The Minsky Moment]

Deficits and fiscal policy more generally area basic tools of economic policy and management.  They are never good or bad in themselves - the question is what is the context and what the is economic objective and strategy?

Trump's economic strategy is straightforward: his targets are always: (a) the next quarter's GDP numbers and unemployment numbers and (b) the current account deficit by country.

Target (a) means that he will always have a fiscally inflationary bias.

[Admiral Yi]

I am curious if you still have the same feeling about the whole thing.

I do not.

[dps]

negative or near zero GDP and high unemployment. 

I assume you meant "negative or near zero GDP growth and high unemployment, 'cause if the GDP ever drops to nearly zero, I doubt that the government can spend our way out of the problem.

[Syt]

Meanwhile, at the UN:

"In less than 2 yrs, my administration has accomplished more than almost any administration in the history of our country, America [AUDIENCE LAUGHTER] so true [LOUDER LAUGHTER] didn't expect that reaction but that's ok [LAUGHTER CONTINUES]."

Donald J. Trump
@realDonaldTrump

We need a President who isn't a laughing stock to the entire World. We need a truly great leader, a genius at strategy and winning. Respect!

9:30 AM - Aug 9, 2014

[Admiral Yi]

Being stable is a bigly bonus!