Trump will plunge U.S. somewhere 'between recession and depression': MSNBC analyst
On Thursday morning, MSNBC economic analyst Steven Ratner painted a dark picture of what he expects will happen if Donald Trump win's re-election in less the two weeks.
Standing before a big display that blared "Trump's Plan Will Crater Economy," the investment analyst claimed voters could find themselves mired in another depression based on the GOP's proposed economic plans.
Ratner noted that a wide range of economists have grown alarmed at a Trump presidency.
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"So why are these economists so opposed to Trump's plan?" he told the panel. "Because the economic effects would be pretty terrible. This is a study done by Bloomberg Economics and they found that Harris' plan did not have much change in either the GDP or inflation which in a sense is a good thing at this point."
Turning to his display, he added, "But look at what Trump's plan would do. Trump's plan would cut the GDP by 8.9 percent. Let me put that in perspective for you: this is roughly twice the amount that the GDP went down during the financial crisis."
"Wow," co-host Willie Geist interjected.
"We would be looking at something between a recession and a depression and interestingly, I'm sure people know because we've talked about this many times, the tariffs would cause certainly a part of this, but the biggest cause actually of this drop are the mass deportations that Trump is talking about because he would take huge pieces of our labor force out of the country, send them back or send them somewhere else, and the result would be business wouldn't have labor," he elaborated.
They wouldn't be able to produce things, and you would have this enormous economic subtraction," he added. "This is something we've never seen before in terms of scoring a set of policy proposals from a presidential candidate."
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