Allysia Finley: Trump Can Take Heart: Mark Zandi Says Harris Will Win
Excerpt:
… Naturally, Mr. Zandi forecast an economic Category 5 hurricane if Mr. Trump won.
The Republican’s policies, he predicted, would tank the economy and create 7.4% unemployment, soaring interest rates, deficits and inflation. GDP would fall 2.4% in “an unusually lengthy recession,” and “the average American household’s after-inflation income will stagnate, and stock prices and real house values will decline.”
Instead, the economy surged thanks to Mr. Trump’s tax cuts and deregulation. Unemployment fell to 3.5% in February 2020, the lowest in 50 years. The economy grew 8.3% during his first three years before the pandemic. Stocks, real incomes and housing values climbed. Inflation didn’t. Deficits as a share of the economy remained at historically normal levels until the pandemic.
Mr. Zandi predicted that a Democratic sweep in the 2020 election would supercharge economic growth, while interest rates would stay between 0.1% and 1.5%. He later commended the Democrats’ $1.9 trillion Covid blowout in March 2021, though he recommended more transfer payments.
When inflation heated up, in June 2021 Mr. Zandi said not to worry: “It is wrong to get all worked up over today’s high inflation. It will soon abate” and “moderate to between 2% and 3% by this time next year.” Inflation peaked at 9.1% in June 2022.
That’s pretty embarrassing — and there are loads more.
Read the whole thing here.
The truth of that matter is that the Democrats are horrible and that Harris does not know what direction the sky is, and she can’t explain why she left two astronauts up there.
But, Trump is an economic imbecile who inherited a stable economy with the traditional 18 month economic lag and built a false foundation of printed money and artificially low interest rates and hired Powell, who, like Wray and Milley, Biden kept. And, then, Covid hit and he destroyed the Country by shutting it down and printing more money. Every single Trump proposal is unconstitutional and will create more inflation. This time, he will destroy the middle class and spend more than the 8.1 trillion he spent the first time after promising to eliminate the national debt in eight years. Johnson was his boy, just like McCarthy, two queens of CRs and three bloated unconstitutional omnibuses which caved to every whim of Pelosi. I suggest people familiarize themselves with Article, Section 8, the Enumerated Powers Clause.
Thank you Ann for sad reminder of Zandi’s predictions. “Wrong” (To quote Mr. Trump at times of great restraint) Zandi was wrong. Yes. Covid may have been a “blow out”. But it sent the country into a downward spiral of impoverishness. The photo/picture of Ms. Harris’s lyin’ eyes and smugness, sitting next to (former?) President Biden—the CNN MarketsNow—piece says it all. They are lyin’ and the so called more “transfers” is worth remembering as fact that Zandi said it.