STAGFLATION! (Now i'm concerned)👍17 Feb 2025 13:45
Donald Trump’s tariff threats have made the US “A SCARY PLACE TO INVEST” (this board is so TERRIFIED they deleted the thread!)and may unleash STAGFLATION, the Nobel prize-winning economist Joseph Stiglitz has said.
“It risks THE WORST OF ALL POSSIBLE WORLDS: a kind of stagflation,” Stiglitz said in an interview with the Guardian.
He argued that despite optimism about the US economy at the turn of the year, the uncertainty created by Trump’s on-off tariff plans and the president’s apparent contempt for the rule of law would deter investment.
“If you’re a corporate in the US or in Europe, do you think you have a global market, or do you have just a European market? Where do you locate your factories?” he said.
He highlighted Elon Musk’s efforts to slash government departments without congressional authority, and Trump’s disregard for contracts – including the trade pact he struck with Canada and Mexico in his first term – among damaging signals for investors considering the US as a destination.
“The government has a huge number of contracts and we’re just tearing them up. How much risk do you want? The US has become, I would say, a scary place to invest,” he said.
QUICK! QUICK!!! TRY AND TURN THE CONVERSATION TO LABOUTR AND MINORITIES!!!😂🤣😂😘