Economy
‘Dead F***ing Wrong’: Ex-IMF Economist Goes Ballistic on Trump
https://www.ccn.com/dead-wrong-ex-imf-economist-goes-ballistic-on-trump
By CCN.com: A former economist at the International Monetary Fund (IMF) has had enough of US President Donald Trump’s preening over the “success” of his administration’s economic policies, which he says have in actuality been exposed as “dead f***ing wrong.”
Mark Dow: Trump Economic Preening ‘Dead F***ing Wrong’
Writing on Twitter, Mark Dow – the founder of Behavioral Macro – eviscerated the Trump White House for its back-slapping over the US economy’s 3 percent growth in 2018.
“If you dump a massive deficit spending package AND a Yuge corporate tax cut on Obama’s 2% economy and only get a one year bump to 3%, you can blame whomever you want, but your supply-side, trickle down, country club repatriation investment theory was dead f*cking wrong[.]”
If you dump a massive deficit spending package AND a Yuge corporate tax cut on Obama’s 2% economy and only get a one year bump to 3%, you can blame whomever you want, but your supply-side, trickle down, country club repatriation investment theory was dead f*cking wrong
— Dow (@mark_dow) March 27, 2019
Donald Trump, as CCN reported, preened about the success of his economic policies when that figure was announced earlier this month, boasting that it was the fastest growth in 13 years.
“GDP growth during the four quarters of 2018 was the fastest since 2005. This Administration is the first on record to have experienced economic growth that meets or exceeds its own forecasts in each of its first two years in office. GROWTH is beating MARKET EXPECTATIONS!”
GDP growth during the four quarters of 2018 was the fastest since 2005. This Administration is the first on record to have experienced economic growth that meets or exceeds its own forecasts in each of its first two years in office. GROWTH is beating MARKET EXPECTATIONS!
— Donald J. Trump (@realDonaldTrump) March 18, 2019
Trump Administration Pumps Deficit to Record Level in Non-Recession Year
Mark Dow, however, tore into the administration and its “supply-side, trickle down, country club repatriation investment theory.”
The former Treasury policy economist alleged that the slight bump to 3 percent GDP growth from the 2 percent seen during the Obama administration was laughable, given that Trump and congressional Republicans had juiced the economy with a “Yuge corporate tax cut” and a “massive deficit spending package.”