Trump Confronted With Reality That His New Economic Idea Would Destroy The Global Economy

[applegrove]

Trump Confronted With Reality That His New Economic Idea Would Destroy The Global Economy

by Alan Pyke at Think Progress

http://thinkprogress.org/economy/2016/05/08/3776377/trump-default-you-never-know/

"SNIP.............


Hours after locking up the Republican presidential nomination this week, Donald Trump suggested that defaulting on the national debt could be a good thing. Economists and financial observers pointed out that his proposal to buy back U.S. debts for less than what America borrowed would send interest rates soaring and cripple the dollar’s vital status as the world’s safest investment.

Pressed to explain why he thinks a huge national lender like China would accept a loss on their investment in the United States on Sunday, Trump offered only a verbal shrug.

“You never know,” he told ABC’s George Stephanopoulous. “At some point, they might want to get out. Maybe they need their money, they might wanna get out.”

It is extremely unlikely that any holder of U.S. bonds would take the sort of desperate need-cash-now approach to those investments that Trump imagines. But even if that did happen, the outcome wouldn’t be good for anyone involved. If Trump yanked the rug out from underneath the global financial system in this way, the resulting instability would slaughter the economy.



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[Jeffersons Ghost]

1. K&R where do Trump-trolls think this Opening Post is going?

No recommendations on a factual Opening Post with a reasonable link? Let's all consider the wider ramifications of worldwide economic collapse and give this idea some publicity.

[lindysalsagal]

2. I really believe the Senate and Congress would impeach him

And his VP and install the speaker of the house, if americans were stupid enough to elect him.

But absolutely no one thinks he can get the job. Many GOP members are announcing they won't support him.

It could be a really ugly convention.

What if the RNC refused to put on the big show and didn't bring in the speakers, or let the speakers trash him???
They could. Nothing stopping them.

What if there was nothing for the networks to cover but a couple of lack-luster votes???

[Jeffersons Ghost]

3. In our dreams modern Republican presidents get impeached...

Impeachment is only for working class heroes.