In an interview with CNBC, Nobel Prize-winning economist and Columbia University professor Joseph Stiglitz said a Donald Trump presidency would be a “nightmare” for the United States.
“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.”
Stiglitz is the latest economist predicting disaster if Trump is elected.
Oxford Economics says the US economy could lose $1 Trillion if Trump implements all of his proposed policies.
The Economist Intelligence Unit, a British research organization, warned that a Donald Trump presidency could have a dangerous impact on the world economy, increasing the potential of Islamic terror attacks and of a trade war with Mexico and China.
Moody’s Analytics warned a Trump administration would catapult the country into an economic downturn worse than the Great Recession and would result in millions of lost jobs.
The Economist ranked a Trump presidency among their list of top ten global risks.
The economy is the number one issue for American voters.
Watch Stiglitz’s interview on CNBC: