The bad news: Joseph Stiglitz, a Nobel Prize-winning economist and Columbia University professor, says a Donald Trump would be a “nightmare” for the United States.
The good news: Stiglitz doesn’t think Trump is likely to be elected.
In an interview with CNBC, Stiglitz said of a Trump presidency:
I think it would be extraordinarily difficult with our relations with other countries – our economic relations and our foreign policy relationships. Building that wall between Mexico and the U.S. is building a wall between the U.S and Latin America. It has done more damage already than one could imagine. For our economy, I think the uncertainty of this political leader who clearly has no deep understanding of economics other than knowing how to go bankrupt. And we could only hope he won’t bankrupt the country.
But he has said things like ‘let’s renegotiate the national debt.’ That’s the kind of thing that is almost unimaginable that any leader would say, ‘When you lent us money, that was just the initiation of a negotiation. We’ll negotiate when we’ll pay you back.’ That’s a nightmare; fortunately, I think the probability of that nightmare coming true is small, and I hope it is getting smaller by the day.
He added, “I’m not having too many sleepless nights, because I think the probability of [a Trump presidency] happening is not very large.”
Stiglitz is just the latest economist to warn that a Trump presidency would be bad news for the United States.
The Wall Street Journal reported last month that not a single economist that has advised previous presidents is openly supporting Trump. Moody’s Analytics, which praised Hillary Clinton’s economic plan, warned that Trump’s agenda would throw the country into a downturn worse than the Great Recession, resulting in millions of lost jobs. The Economist has even ranked a Trump presidency among their list of top ten global risks.
Among organizations and people that deal purely with the economy, Donald Trump is seen as a great threat.
Any American voting with their pocketbook should remember that as they head to the polls in November.
Sean Colarossi currently resides in Cleveland, Ohio. He earned his Bachelor of Arts degree in Journalism from the University of Massachusetts Amherst and was an organizing fellow for both of President Obama’s presidential campaigns. He also worked with Planned Parenthood as an Affordable Care Act Outreach Organizer in 2014, helping northeast Ohio residents obtain health insurance coverage.