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Hot damn, i am also not an economist, I had to read that article 3 times just to grasps what Yanis is trying to say.
So in essence, when Trump and Musk said, brace for recession, it will have to be bad before it gets good, this article confirms it.
Trump wants to devalue the dollar to boost exports and thus strengthen the domestic production?
This i don't understand though:
So foreign currencies will also soften relative to the dollar? How can all currencies devalue at the same time? Is he trying to create world wide recession ?
If someone could ELI5 for us, that'd be great.
Another thing I'd like to mention, I respect Yanis a lot but Trump has never given us any indication he indeed thinks and understands economics on this level. Maybe he treats us all as dumbasses and dumbs it down for us but the truth is, he has never spoken in terms that would indicate he understands economy at this level. So he's either getting muppetered by others or Yanis is giving him too much credit.
The ELI5 is: economist bends over backwards trying to justify the unjustifiable.
Trump is not a successful businessman. He does not understand economics at even close to that level.
I can't comment much about the economic plan, but make sense in Varufakis mouth.
Trump can't obviusly not plan such a think, but he has people around him, like the Heritage Foundation.
We know Trump is deeply into some fixations, which he whirl into on and on, one is the arrogant "make the other pays for my stuff". I can see him asking his people for such a plan, and it matches what Varufakis explained.
I personally don't think such an arrogant move will succed in 2025, but who knows.
Seems questionable at best, just like attributing that level of economic strategy from the guy.
The only thing of value I got from that article is the question of what is Trumps actual view of America being great again. Trump certainly hasn’t articulated any sort of consistent description of that. The article tries to give an answer yet I don’t see anything to support it except the claim that trump is a lot more clever than he comes across. I’m not buying it.
Even if he were that clever, such a plan seems more fraught with negatives than positives, plus doing things the hard way causing the most pain.