Well we have an official ticket for the GOP, Trump/Vance, and now they will set about doing what they must to win in November….a good place to look is their economic policies or we could call it Trumponomics…..the prevailing thought is Americans will vote with their wallets this time around.
Then let us look at Trump’s policies…..
The odds of a second Donald Trump presidency are mounting in the wake of a failed assassination attempt and his strong debate performance, with Wall Street preparing for the possibility of sticky inflation, protectionist trade policies, and higher long-term bond yields if he wins the election.
But Trump has shrugged off these concerns, telling Bloomberg he aims to make the economy great again through his “Trumponomics” plan that equates to low interest rates and taxes. This would be “tremendous incentive to get things done and to bring business back to our country.”
Here’s what Trump plans on doing if he wins the election:
Now that you have a good look at their upcoming policies….what will it mean for the markets?
Economic populism has transmuted the Republican Party, and that new version of the GOP has just gone from one standard bearer to two.
Donald Trump’s choice of J.D. Vance as his running mate suggests he is leaning harder into the economic policy instincts that helped land him his first term in 2016 and that he no longer feels the need to placate the type of free-market conservatives who have dominated the party for decades.
The former president’s views on tariffs, spending and immigration were no doubt a key ingredient to his electoral success in 2016. But he chose Mike Pence as his vice president for that race — a candidate with more traditionally conservative free-market viewpoints.
Few Republicans have been more vocally critical of the party’s modern economic conventions than Vance, who has embraced not just tariffs, but also policies like a higher minimum wage and increased barriers to corporate mergers — even openly praising President Joe Biden’s aggressive antitrust chief, Lina Khan.
He is uninterested in traditional small-government priorities.
What about prices?
Tariffs, one of Trump’s only consistent enthusiasms, are a sure thing. Starting in 2018, his administration imposed several rounds of duties, prompting predictable retaliation. Combined, these measures eliminated jobs, slashed incomes and cost consumers about $51 billion annually. Now Trump wants to impose tariffs of 60% on Chinese-made products and 10% on other imports. Bloomberg Economics estimates that this would raise consumer prices by 2.5% over two years and reduce growth by 0.5%. Trump has also promised a 100% duty on imported cars. Details TBD — one analyst describes the likely effect as “catastrophic” — but the point is that trade wars of this kind are always prone to raising prices.
Prices will most likely rise and so will inflation….so just how does he plan to end our ‘inflation nightmare’?
Former President Donald Trump is campaigning on a pledge to end the “inflation nightmare,” vowing that if he wins a second term, he’ll bring down prices “very quickly.” And if that scenario came to pass, it would be cheered by the millions of Americans who say higher costs remain a major problem.
There’s only one problem: Key policies that undergird so-called Trumponomics — a combination of tariffs, tax cuts and a crackdown on immigration — are likely to cause a flare-up in inflation, according to many Wall Street economists. That would be a painful outcome for consumers and businesses sapped by more than two years of surging prices. More broadly, renewed inflationary pressures would also come as inflation is finally inching closer to the Federal Reserve’s goal of 2% per year.
But experts warn that Trump’s economic policies could cause such progress to stall, and even reverse. They note that tariffs effectively act as a consumption tax, increasing the cost of goods imported into the U.S. — costs that businesses typically pass on to consumers.
(cbsnews.com)
If one would just look at these plans and stop kissing Trump’s ass they would see that his proposals will only hurt them in the long run…..a vote for Trumponomics is shooting oneself in the foot….and there has been too much of that in the last decade.
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