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Belle of the Ranch

Let's talk about Trump costing jobs and hurting the GDP....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 6 September 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

Let's talk about Trump costing jobs and hurting the GDP....

Transcript

Click on a timestamp to play from that location

0:00.0

Well, howdy there internet people, it's Bell again.

0:04.0

So today, we're going to talk about 2024, Trump, Harris,

0:09.0

and some very funny economic predictions.

0:11.0

And then, something very serious that you need to file away.

0:15.8

So we have constant rhetoric from Trump talking about how Harris will crash the economy.

0:21.1

In fact, he even successfully tied her to the stock market in the minds of many of his

0:25.8

own followers, only to see the stock market then climbed to a record high.

0:31.5

For the record, Harris didn't do that and only somebody who doesn't

0:35.5

understand the markets would believe she did or believe that she would

0:39.6

cause a crash. Trump has done everything he can to cast Harris as some kind of died in the wool

0:46.8

leftist who would bankrupt the country and destroy the economy.

0:51.3

Meanwhile, Harris is out there pitching economic help for the middle class instead of for the wealthy people who would benefit from Trump's tax cut.

1:00.0

But hey, politicians lie, right?

1:03.0

So, what do the big boys on Wall Street think?

1:07.0

Goldman Sachs had something to say on the topic, saying, quote,

1:12.0

we estimate that if Trump wins in a sweep or with divided government,

1:17.0

the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse resulting in a peak hit to

1:26.4

GDP growth of negative 0.5 p. in 2025 H2 that abates in 2026. So Trump creates a hit to the GDP. Let me say that again.

1:39.0

Trump hurts the economy. Okay, but half a percentage point out of the growth isn't really that

1:46.2

bad overall. I'm sure Harris is worse. I mean, I saw an AI picture of her with a hammer and a

1:51.6

sickle.

1:53.0

So Goldman said, quote, if Democrats sweep, new spending, and expanded middle income tax credits

...

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