Tuesday, March 8, 2016

Trump’s Understanding of the Economy is Astoundingly Bad

Even if you dismiss the fact that Donald Trump has failed at literally every business endeavor outside of real estate and entertainment, you still have to look at his business decisions with skepticism. His supporters see a rich man who must be good at business – after all he’s rich! Of course, had he taken the tremendous empire he was born into and invested his riches into simple index stocks, his fortune would be at least double what it is today.

What cannot be forgiven is his disastrous miscalculation regarding his bread and butter – real estate. His decision to start a mortgage company at the beginning of the most foreseeable housing market crash in history is a testament to both his ego and his failures in critical thinking. Even the kindest economic analyst looking at his history would come to the conclusion that if he hadn’t been born rich, he would have probably been a mediocre life insurance salesman whose only real talent was delivering a good sales pitch.

Fortune Magazine does a nice job of point out his economic ineptitude.

The notion that he knows what’s best for the economy is ludicrous based upon his history and outrageous when you look at his tax plan that is projected to add more to the national debt than even President Obama’s disastrous Presidency. But hey, he’s rich, so his supporters don’t need to look at pesky facts.

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