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23 Nobel Prize-winning economists slam Trump agenda, endorse Harris

Terryj said:
I don't see how those 23 Nobel Prize-winning economists think that Harris's plan to cap prices is a good idea. Maybe some of you were not around when Nixon tried this back in 1971, that created a real sh** storm, cattle ranchers refused to sell their beef, dairies were dumping their milk and chicken farmers were getting rid of chickens, all of this created shortages. Now Harris is suggesting the same thing, nothing hurts a free market economy more than when the government tried to regulate it. A free market will adjust it self over time, it's called supply and demand. Putting price controls on goods only works if you cap everything within the supply chain of all goods, which would be impossible to enforce. Once your price controls expire then you will see a huge jump in the price of all goods, this is what happened to Nixon's price caps.

So, maybe the Prize winning economist were not around in 71.
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Quote Harris' plan where she will "cap prices". I think that is entirely in your head. I think her idea to give first time home buyers 25k towards their home, when the problem is supply, will only drive prices up, but I haven't seen anything suggesting she would price cap. Investigating price gouging is not price caps.
 
Terryj said:
I don't see how those 23 Nobel Prize-winning economists think that Harris's plan to cap prices is a good idea. Maybe some of you were not around when Nixon tried this back in 1971, that created a real sh** storm, cattle ranchers refused to sell their beef, dairies were dumping their milk and chicken farmers were getting rid of chickens, all of this created shortages. Now Harris is suggesting the same thing, nothing hurts a free market economy more than when the government tried to regulate it. A free market will adjust it self over time, it's called supply and demand. Putting price controls on goods only works if you cap everything within the supply chain of all goods, which would be impossible to enforce. Once your price controls expire then you will see a huge jump in the price of all goods, this is what happened to Nixon's price caps.

So, maybe the Prize winning economist were not around in 71.
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Harris has never, to the best of my knowledge, said anything about capping prices or price controls. She has said she would go after price gougers. Many states have those kinds of laws. Enacting a federal law would be a good thing.
 
Flaming Capitalist said:

KEY POINTS
  • Twenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over Donald Trump in a joint letter.
  • The economists said Trump’s economic agenda, which includes hardline tariff proposals and a slate of aggressive tax cuts, would “lead to higher prices, larger deficits, and greater inequality.”
  • Joseph Stiglitz, who spearheaded the endorsement letter, led a similar effort in June to back President Joe Biden’s agenda.

Twenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trumpin a joint letter released Wednesday.

The nearly two dozen economists said Trump’s economic agenda, which includes hardline tariff proposals and a slate of aggressive tax cuts, would “lead to higher prices, larger deficits, and greater inequality.”

“Simply put, Harris’s policies will result in a stronger economic performance, with economic growth that is more robust, more sustainable, and more equitable,” the letter read. CNN was first to report on the new letter.

Joseph Stiglitz, who won the Nobel Prize for his market economics research in 2001, spearheaded the joint endorsement among his fellow laureates.

Stiglitz led a similar effort to endorse President Joe Biden in June, publishing a letter signed by 16 Nobel laureates. That came just two days before the fateful presidential debate that ultimately derailed the president’s reelection
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You really think that works? What about those 51 lying intelligence officials that said the Hunter Biden laptop story was Russian disinformation?
 
Yeah but a bunch of old posters in Alabama on Facebook disagree.
 
dmpi said:
Economists are losing credibility left and right. They're nothing more than political hacks.
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Yeah, discredit the source. Right out of the Republiclown playbook.
BTW, where did you get your Economics degree?
 
NOLA Dude said:
You really think that works? What about those 51 lying intelligence officials that said the Hunter Biden laptop story was Russian disinformation?
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What 51 intelligence officials are you talking about?
 
Flaming Capitalist said:
Yeah, discredit the source. Right out of the Republiclown playbook.
BTW, where did you get your Economics degree?
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Everyone is a political hack. Everyone is a Trump hater don't you know.
 
tshade said:
Keep in mind that literally ALL presidential historians rank trump last...................
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Well, the orange guy has quite the resume. How many presidents are convicted criminals? Not to mention all the other trials he faces on the docket. Plus, he's really the dumbest president we've ever seen.
 
The Hairy Fiddler said:
Well, the orange guy has quite the resume. How many presidents are convicted criminals? Not to mention all the other trials he faces on the docket. Plus, he's really the dumbest president we've ever seen.
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If Trump is re-elected, the world is going to think Americans are the biggest suckers on the planet.

IMG_3782.webp
 
Flaming Capitalist said:
If Trump is re-elected, the world is going to think Americans are the biggest suckers on the planet.

View attachment 67539213
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I know several people that live in Australia, the UK and Germany. None of them can understand why Trump is even allowed to run here. And they all are worried to death that America will become just like Russia or China, only radical right instead of left.
 
This thread has gone down in a ball of flames.
 
NOLA Dude said:
You really think that works? What about those 51 lying intelligence officials that said the Hunter Biden laptop story was Russian disinformation?
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Don't worry, after Halloween they all have to go back to imaginaryland, where you found them.
 
Allan said:
The market is concerned about a Trump win.

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It is mainly because Trump's tariffs will very likely reignite inflation.

“The logic here is very simple: Candidate Trump has called for a significant increase in import tariffs to revive domestic manufacturing,” Steven Ricchiuto, chief US economist at Mizuho Securities, said in a Wednesday afternoon note. “These tariffs are seen as immediately raising the price of consumer goods and, in the process, reversing the goods deflation that has helped pull inflation back towards the Fed’s 2% target.”
 
verrip1 said:
Wow!! Twenty-three economists? That must be at least 99.96% of all economists.
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Some of us are old enough to remember when many of these same economists were incredibly wrong with their predictions in 2016. Most notably, Krugman.

This time, though, they are right! (and oh yeah, Trump = Hitler) /s
 
The Hairy Fiddler said:
Well, the orange guy has quite the resume. How many presidents are convicted criminals? Not to mention all the other trials he faces on the docket. Plus, he's really the dumbest president we've ever seen.
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The history of the presidency is littered with poor behavior, horrible decisions even by some of our most revered presidents.

IOW - Nothing new under the sun.
 
I have to say, I'm not sure how effective these kind of endorsements are in terms of convincing anyone since we're probably at a point where people have made up their minds on how they're voting. Those who don't trust experts aren't going to care, but there's also the point that every set of experts will have differing opinions so 23 top experts may agree and there may be 23 others who don't. The main concern with Trump's communicated economic plans are their inflationary risk since tariffs often have that effect.
 
Flaming Capitalist said:
That doesn't disqualify ALL intelligence officers. Sorry. Try again.
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Swing and a miss and you fell down too. I said 51 intelligence officials. You moved the goalposts and said All intelligence officers. I never said All. That was you.

It's funny how you left wingers here rarely every comment on the subject at hand and y'all mainly stick to insults, vague posts or one liners.

You realize that anyone can see that's a transparent message board tactic when you have no response to refute the subject at hand. It's not working just like Kamala’s campaign.
 
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