I’d love it if this were the headline of the week.
ParkMan73 on
Trump’s always been better at running for President than actually being President.
Glad to see the economists agree.
FangGore on
> In June, 16 Nobel Prize-winning economists issued an open letter warning that Trump’s economic platform “will reignite this inflation, with his fiscally irresponsible budgets.”
The party of “fiscal responsibility” died when they became infected with Trumpism. Everything Trump touches dies.
rollingstone on
***From Rolling Stone’s Nikki McCann Ramirez:***
As financial institutions weigh the potential impact of November’s election, Goldman Sachs is warning that a victory by former President Donald Trump would likely lead to an economic downturn.
According to a Tuesday note from Goldman, economists at the firm “estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse.” They project that GDP growth would peak at 0.5 percentage points in 2025, the positive effects of which would abate in 2026.
By contrast, Goldman predicts that if Vice President Kamala Harris wins the White House and Democrats sweep, “new spending and expanded middle-income tax credits would slightly more than offset lower investment due to higher corporate tax rates, resulting in a very slight boost to GDP investment due to higher corporate tax rates, resulting in a very slight boost to GDP growth on average over 2025-2026.”
>”I’ve been around for a long time. And it just seems that the economy does better under the Democrats than the Republicans.”
>– Donald Trump, 2004
JUSTICE_SALTIE on
Yeah, it always happens when a Republican wins.
baquir on
Let’s be clear. Trump is a showman, he’s a grifter, he’s a snake oils man, an ego centric narcissistic whiner that has absolutely no experience nor the temperament to be the President of these UNITED states.
The only reason he got by between 2017-2020 is because he had decent policy makers on his team, albeit some for a very short time who also couldn’t stand his tantrums and falsehood.
I agree that he’s only good at RUNNING for the role because that last all an act and let’s be honest, he is nothing but an actor, and not a good one at that.
dlchira on
Oh you mean the notoriously liberal, anti-capitalist, never-Trump, bleeding-heart Goldman Sachs? *That* Goldman Sachs?! /s
CockBrother on
But that’s a good thing. Billionaires would be able to buy up more of the pie at distressed prices and extract future rents on everything.
Kazyole on
I can’t imagine why they don’t think this guy is fit to lead the world’s largest economy:
>You take a look at bacon and some of these products and some people don’t eat bacon anymore…and we are going to get the energy prices down when we get energy down you know this was caused by their horrible energy WIND they want wind all over the place. But when it doesn’t blow we have a little problem.
—Donald Trump
Quick_Silver_2707 on
Recessions started since 1970s.
Democrats: 1 (Carter 1980)
Republicans: 10
Every recession in the last 44 years has started during republican presidents. Why do people still believe they are better for the economy when a lifetime of experience shows otherwise?
OlBobDobolina on
Duh
Not_Bears on
Ah yes notoriously left wing Goldman Sachs… lol
trogdor1234 on
It’s going to be so bad. He’s going to crank the prices up with tariffs and then spend billions to deport people which will reduce our work force and consumer base.
Ok_Primary_1075 on
And these supposedly smart billionaires continue to support him….what gives?
jerryhallo on
Yeah the collapse of western society usually hurts the economy.
Livid-Opportunity312 on
I think people who are not investors should stop pretending their dimes are worth it. try first not dying with the stock market life is made for living not dictating.
BobB104 on
It did during his first term. But that seems too long ago for people and the media to remember.
Stinkstinkerton on
If this is true then this is the death rattle for Trump. Whatever Goldman Sachs wants is what we’ll get , it’s almost a done deal. I still think Exxon and the like would love another Trump dumpster fire but his instability might even be too much for those greedy scum bags. At the end of the day shareholder value is really the only thing that matters to these people.
madzax on
Not only would Trumps win lead to an economic downturn, so would morals and respect for the law deteriorate. Trump is not needed. Patriots need to ban together and denounce evil by voting Trump out. He is a very bad example if our people. Has to go now. He can do no good for our county.
buizel123 on
This message needs to be amplified to all the swing state people who say “but muh inflation”, “but muh economy”
mudriverrat07020 on
First patriotic statement/action Goldman Sachs has made in its history
UniqueSteve on
Pfft… those socialists, typical!
JubalHarshaw23 on
Of course it would. That’s how he plans to halve energy prices, food prices, housing prices….. In a Depression prices come down because nobody has money and demand falls flat.
CicadaFit24 on
This has happened already before. So, no doy.
grptrt on
It’s clear he has zero understanding of economics. Like inflation and interest rates are inversely related. You cannot reduce inflation by lowering interest rates, but that’s a boring billboard. And how many bankruptcies is he responsible for? This is the man more people trust to manage the economy?
Socratesticles on
But as long as they think $1.78 gas will return just like that it’s okay…
Renorico on
And yet millions still believe he will handle the economy better than Harris
Fearless_Excuse_5527 on
If Trump wins, it’s because Americans are too fucking dumb when it comes to knowing a damn thing about how economics works. Thanks to social media letting you all know how economics works and any real economist or expert is labeled as fake. Social media and lack of education has led many to crave instant satisfaction and we no longer have the foresight to forecast into the future.
NYArtFan1 on
“Here’s why that’s bad for Harris” – NY Times
Few-Till-133 on
Not to mention general Civil unrest. Trump is not a viable candidate to lead this country.
31 Comments
I’d love it if this were the headline of the week.
Trump’s always been better at running for President than actually being President.
Glad to see the economists agree.
> In June, 16 Nobel Prize-winning economists issued an open letter warning that Trump’s economic platform “will reignite this inflation, with his fiscally irresponsible budgets.”
The party of “fiscal responsibility” died when they became infected with Trumpism. Everything Trump touches dies.
***From Rolling Stone’s Nikki McCann Ramirez:***
As financial institutions weigh the potential impact of November’s election, Goldman Sachs is warning that a victory by former President Donald Trump would likely lead to an economic downturn.
According to a Tuesday note from Goldman, economists at the firm “estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse.” They project that GDP growth would peak at 0.5 percentage points in 2025, the positive effects of which would abate in 2026.
By contrast, Goldman predicts that if Vice President Kamala Harris wins the White House and Democrats sweep, “new spending and expanded middle-income tax credits would slightly more than offset lower investment due to higher corporate tax rates, resulting in a very slight boost to GDP investment due to higher corporate tax rates, resulting in a very slight boost to GDP growth on average over 2025-2026.”
Read more: [https://www.rollingstone.com/politics/politics-news/goldman-sachs-economic-downturn-trump-1235094814/](https://www.rollingstone.com/politics/politics-news/goldman-sachs-economic-downturn-trump-1235094814/)
Hardly surprising. Republican administrations have historically performed worse with the economy, and that was before Trump drove his off the cliff.
[New report finds that the economy performs better under Democratic presidential administrations](https://www.epi.org/press/new-report-finds-that-the-economy-performs-better-under-democratic-presidential-administrations/)
>”I’ve been around for a long time. And it just seems that the economy does better under the Democrats than the Republicans.”
>– Donald Trump, 2004
Yeah, it always happens when a Republican wins.
Let’s be clear. Trump is a showman, he’s a grifter, he’s a snake oils man, an ego centric narcissistic whiner that has absolutely no experience nor the temperament to be the President of these UNITED states.
The only reason he got by between 2017-2020 is because he had decent policy makers on his team, albeit some for a very short time who also couldn’t stand his tantrums and falsehood.
I agree that he’s only good at RUNNING for the role because that last all an act and let’s be honest, he is nothing but an actor, and not a good one at that.
Oh you mean the notoriously liberal, anti-capitalist, never-Trump, bleeding-heart Goldman Sachs? *That* Goldman Sachs?! /s
But that’s a good thing. Billionaires would be able to buy up more of the pie at distressed prices and extract future rents on everything.
I can’t imagine why they don’t think this guy is fit to lead the world’s largest economy:
>You take a look at bacon and some of these products and some people don’t eat bacon anymore…and we are going to get the energy prices down when we get energy down you know this was caused by their horrible energy WIND they want wind all over the place. But when it doesn’t blow we have a little problem.
—Donald Trump
Recessions started since 1970s.
Democrats: 1 (Carter 1980)
Republicans: 10
Every recession in the last 44 years has started during republican presidents. Why do people still believe they are better for the economy when a lifetime of experience shows otherwise?
Duh
Ah yes notoriously left wing Goldman Sachs… lol
It’s going to be so bad. He’s going to crank the prices up with tariffs and then spend billions to deport people which will reduce our work force and consumer base.
And these supposedly smart billionaires continue to support him….what gives?
Yeah the collapse of western society usually hurts the economy.
I think people who are not investors should stop pretending their dimes are worth it. try first not dying with the stock market life is made for living not dictating.
It did during his first term. But that seems too long ago for people and the media to remember.
If this is true then this is the death rattle for Trump. Whatever Goldman Sachs wants is what we’ll get , it’s almost a done deal. I still think Exxon and the like would love another Trump dumpster fire but his instability might even be too much for those greedy scum bags. At the end of the day shareholder value is really the only thing that matters to these people.
Not only would Trumps win lead to an economic downturn, so would morals and respect for the law deteriorate. Trump is not needed. Patriots need to ban together and denounce evil by voting Trump out. He is a very bad example if our people. Has to go now. He can do no good for our county.
This message needs to be amplified to all the swing state people who say “but muh inflation”, “but muh economy”
First patriotic statement/action Goldman Sachs has made in its history
Pfft… those socialists, typical!
Of course it would. That’s how he plans to halve energy prices, food prices, housing prices….. In a Depression prices come down because nobody has money and demand falls flat.
This has happened already before. So, no doy.
It’s clear he has zero understanding of economics. Like inflation and interest rates are inversely related. You cannot reduce inflation by lowering interest rates, but that’s a boring billboard. And how many bankruptcies is he responsible for? This is the man more people trust to manage the economy?
But as long as they think $1.78 gas will return just like that it’s okay…
And yet millions still believe he will handle the economy better than Harris
If Trump wins, it’s because Americans are too fucking dumb when it comes to knowing a damn thing about how economics works. Thanks to social media letting you all know how economics works and any real economist or expert is labeled as fake. Social media and lack of education has led many to crave instant satisfaction and we no longer have the foresight to forecast into the future.
“Here’s why that’s bad for Harris” – NY Times
Not to mention general Civil unrest. Trump is not a viable candidate to lead this country.