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Jeffrey D. Sachs is a prominent American economist, author, and public policy analyst, renowned for his work in sustainable development, global health, and economic reform. He serves as a University Professor and Director of the Center for Sustainable Development at Columbia University. From 2002 to 2016, he led Columbia's Earth Institute. Sachs also presides over the UN Sustainable Development Solutions Network and acts as an advocate for the United Nations' Sustainable Development Goals (SDGs) .
The world is catching on to the fact that Donald Trump is a dummy.
In the video, below (bulleted summary provided of just the first 9 minutes) Sachs explains what is wrong with America, and everyone should watch this.
He explains why Trump's failure to understand how global trade actually works is hurting America, and the world at large. In my view. Trump is the most destructive president in history, such that say, not only is he stupid, he is dangerously stupid. Sachs, in very concrete terms, explains this.
The world is catching on to the fact that Donald Trump is a dummy.
In the video, below (bulleted summary provided of just the first 9 minutes) Sachs explains what is wrong with America, and everyone should watch this.
He explains why Trump's failure to understand how global trade actually works is hurting America, and the world at large. In my view. Trump is the most destructive president in history, such that say, not only is he stupid, he is dangerously stupid. Sachs, in very concrete terms, explains this.
- Trade deficit analogy: Running a trade deficit is like racking up credit card debt; blaming the sellers is irrational.
- Trump's misunderstanding: Trump misunderstands trade deficits, thinking they are caused by other countries cheating the U.S.
- What a trade deficit really is: It reflects that the U.S. is spending more than it produces—not a result of trade policy.
- It’s an economic identity: The current account deficit equals the excess of consumption, investment, and government spending over gross national product—taught in basic economics.
- Government overspending: The U.S. spends about $2 trillion more per year than it collects in revenue.
- Political cause of deficit: Congress won’t raise taxes because its members are funded by wealthy donors who oppose taxation.
- Chronic national deficit: U.S. national income is ~$30 trillion; spending is ~$31 trillion—that’s the source of the trade deficit.
- Blaming other countries is a diversion: Trump blames the world for a deficit that results from internal overspending.
- Global economic impact: Trump’s trade actions wiped out $10 trillion in global market capitalization in just two days.
- Trade is mutually beneficial: Stopping trade hurts everyone—not a win-lose game, but a lose-lose when disrupted.
- Trump's win/lose mentality: He sees all transactions as zero-sum due to his background in real estate, not economics.
- Worldwide losses: Markets dropped globally after Trump's trade moves because the global system relies on interconnected labor and trade.
- Even wealthy supporters opposed it: Trump’s rich backers (hedge fund managers, Elon Musk) began to criticize the policy.
- Treasury debt dumped: Interest rates rose as investors sold off U.S. Treasury debt, losing confidence.
- Tariffs remained on China: Even after walking back some tariffs, Trump left high tariffs on Chinese goods (145%).
- U.S. political hostility toward China: There’s a deep political animosity toward China because of its size and success.
- China would win a trade war: China only sends ~12% of its exports to the U.S. and wouldn’t be significantly affected.
- Policy is irrational: The trade war strategy makes no economic sense.
- Emergency powers abuse: Trump issued trade actions through emergency executive decrees—not through Congress.
- Executive overreach: These powers are constitutionally supposed to be vested in Congress (Article I, Section 8 )
- Long history of “emergency” loopholes: Since WWII, emergency declarations have been abused to expand executive power.
- One-man rule: The U.S. political system is in collapse; Trump governs by fiat.
- Possible insider trading: When Trump reversed course, markets recovered $4 trillion—suggesting some people (possibly in Congress) may have profited by knowing in advance.