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and A Trump fan questioned Vince Dhimos’ response at Quora
If you have not yet read my post, you can find a similar one here: http://www.newsilkstrategies.com/economics-and-finance/chinese-economist-looks-at-impact-of-trump-trade-war-on-us-economy Or you can read it here in Spanish (use Google Translate if necessary): https://es.quora.com/Por-qu%C3%A9-Trump-comenz%C3%B3-una-guerra-con-China/answer/Vince-Dhimos The following is my translation: Trump fan: If [Trump] is such a failure, why has the US economy improved like never before and the unemployment rate is one of the lowest in many years? How can we believe you? Vince: During his campaign, Trump complained that the job numbers published by the government were fake because the unemployment reports did not include the number of people who had stopped seeking work. He was right. This system is, of course, misleading and it always makes the government look better than it is. However, this system has not changed, so it is still misleading. Yet now that Trump is president, he wants us to believe the government numbers that he himself called fake. He could have tried to change this misleading reporting system – as his supporters were led to expect – but instead, he is capitalizing on this fake system to make himself look good. Look, when Trump became president, the US debt was $20 trillion. Now it is $22 trillion. This debt – not the employment rate – is the best indicator of US economic health and shows that the American economy is very very sick and it will get worse because many of the salaries of the new jobs are paid by the government, and the source of the money is just debt, not real money. It means nothing. The Trump government solves economic problems by providing subsidies and by giving companies very low taxes, ie, costing the tax payer billions. But subsidies and tax breaks for companies, while they make Trump look good to voters, do not reflect a healthy economy because they are paid by the tax payer, not by productive work. Trump paid millions of dollars to the oil companies in the form of tax rebates (a disguised form of subsidy) because his idea of making America great by selling shale oil was not profitable since it required the expensive process of hydraulic fracturing (fracking). Thus it failed ignominiously but he made himself and the failed shale oil industry look good by robbing the tax payer! Then his trade war with China destroyed the American soybean farmers and his "solution" to this problem was to subsidize the farmers. But this was obviously not a real economic solution. It was a political solution to his re-election problem. The tax payer was robbed to solve a problem caused by a senseless trade war. These solutions are all band-aids. Before he was elected, Trump declared bankruptcy 6 times and lost nothing because he had invested other people's money. He is bankrupting America and will not lose because he has spent the tax payer’s money. He will win, the country will lose.
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