Tuesday, March 1, 2016

A Desperate Warning From Larry Summers About Donald Trump

Sadly, this Keynesian establishment criminal may have it right. This may be worst case scenario, but what Summers warns of can not be ruled out.

He writes at WaPo:
While comparisons between Donald Trump and Mussolini or Hitler are overwrought, Trump’s rise does illustrate how democratic processes can lose their way and turn dangerously toxic when there is intense economic frustration and widespread apprehension about the future. This is especially the case when some previously respected leaders scurry to make peace in a new order -- yes Chris Christie, I mean you.

The possible election of Donald Trump as president is the greatest present threat to the prosperity and security of the United States. I have had a strong point of view on each of the last ten presidential elections, but never before had I feared that what I regarded as the wrong outcome would in the long sweep of history risk grave damage to the American project.

The problem is not with Trump’s policies, though they are wacky in the few areas where they are not indecipherable. It is that he is running as modern day man on a horseback—demagogically offering the power of his personality as a magic solution to all problems—and making clear that he is prepared to run roughshod over anything or anyone who stands in his way....

Nothing in the way he campaigned gave Richard Nixon a mandate for keeping an enemies list or engaging in dirty tricks.  If he is elected, Donald Trump may think he has such a mandate. What is the basis for doubting that it will be used?...What will a demagogue with a platform like Trump’s who ascends to the presidency do with control over the NSA, FBI and IRS?  What commitment will he manifest to the rule of law? Already Trump has proposed that protesters at his rallies “should have been roughed up.”...

 A growing sense that a protectionist demagogue could soon become president of the United States would surely introduce great uncertainty at home and abroad. The resulting increase in risk premiums might well be enough to tip a fragile U.S. economy into recession. And a concern that the U.S. was becoming protectionists and isolationist could easily undermine confidence in many emerging markets and set off a financial crisis.

   -RW

2 comments:

  1. "...Trump’s rise does illustrate how democratic processes can lose their way and turn dangerously toxic when there is intense economic frustration and widespread apprehension about the future..."

    These establishment mouthpieces always use this type of language do deflect anything that might impugn their own agendas or designs.

    In my opinion, what would be more accurate and what Trump and his followers are saying is more along the lines of this:

    "...Trump’s rise does illustrate how democratic processes can lose their way and turn dangerously toxic when there is intense SUSPICION, DISTRUST AND FRUSTRATION WITH THE ELITES AND THE MAINSTREAM ESTABLISHMENT..."

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  2. Sounds like $100 Larry Summers is setting the stage to blame the next Fed generated Bust on Trump if elected. If successful $100 Larry Summers and Dummycrats will have gone from placing sole blame for economic woes of the last 8 years on Ex President G W Bush to next placing it on Trump. Thus exonerating B Obama from any blame for the last 8 years of problems while he was in office! The Dummycrats will be able to count on the MSM to parrot their false claims. Preposterous but most likely swallowed hook , line and sinker by a lot of dullard serfs!

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