When the Saudis and the rest of the oil cartel keep their oil prices high, economists rail against the gas price at the pumps but don’t necessarily fault them for doing so. When the supply and demand for oil (and refined petroleum products) drop as scarcity turns to abundance, these same number crunchers caution against dwindling domestic stimulation and how that is hurting Americans. You never win an argument against these economists because they argue in circles. In reality, however, they know little about how the production and sale of goods and the impact these events have on everyday consumers. They mainly believe, and then postulate that “the greater the demand, the higher the price.” They seem to like it when conditions reflect great demands and the products are scarce because they can say they know what they are talking about: When the markets deviate from such conditions, economists tend to be rather clueless as to what should be done next.
Economists as a group, do not like change or to tread in uncharted supply and demand seas– it is not so much about the fear of the unknown, rather, it is because they know so little. This is why so many economists preach against Donald Trump’s economic theories– they deviate from the handful of rehearsed economic principles familiar to them. They don’t understand Trump’s proposed policies and criticize them anyway even though Trump is a proven and successful business person. Trump’s ideas are outside of the box of their tightly held and limited safety zone theories.
According to a post in Project Syndicate, Simon Johnson, a professor at MIT Sloan, said Donald Trump’s economic policies, if ever implemented, would represent “a recipe for another Great Depression, with massive unemployment and millions of people unable to pay their mortgages, student loans, and other debts.” He emphasized the 1814 British attack and the White House Burning, to illuminate how foreign fiscal trade is critical to national security. He opines that “ American politicians had almost completely undermined the central government’s financial capacity. The US had no effective navy, a weak army, and insufficient ability to mobilize in the face of an obvious national emergency.”
Well, we live in an instantaneous digital world now: We no longer have to wait over ten days to receive word from the United States to London whether your daughter is dying as Mark Twain was forced to do. The U.S. would know instantly if a foreign government was attacking us. Besides, Donald Trump is all about national security and a strong defense.
Trump just objects to us getting ripped off by foreign nations in trade deals. Because Trump’s stated ideas transcend the limited principles of supply and demand analysis, these doom and gloom economists criticize him. Trump is about America asserting her position of strength and if necessary, using all of our marketing power to make this happen. He is the first potential President in modern American history to understand this concept. Of course, unlike most of his critics, he has made billions in the marketplace. What have his opponents and critics accomplished? Nothing, but empty words from them.