The Donald is making headlines again because he said this…
Trump on his debt proposal: “First of all, you never have to default because you print the money.”
The #NeverTrump crowd are losing their minds and making fun of him for is obvious lack of financial acumen.
The problem is, Trump is absolutely right. I said the same thing back during the Greek crisis. So did a lot of other nationally known economists back then. There are only 4 ways for a nation to handle a debt crisis: Inflation, debasement (by printing money), reneging all or parts of the debt, or raising taxes. This is indisputable. In fact, it is how our government has been operating since the Revolution.
It is how the Wiemar Republic (Germany) paid its debts following WW1. It is how states like Zimbabwe pay their bills.
So… for modern pundits and media people to make the proclamation that Trump is insane or a buffoon because he is stating an absolute true reality of national finance just blows my mind.
I don’t care which candidate you like or don’t like. But please, don’t throw away your credibility away just to attack Trump. There is another election coming. It’s not about Trump vs Bush any more. It’s Trump Vs Hillary. If you can’t tell it will matter, then you just aren’t paying attention. It doesn’t matter is Trump is to the left of Hillary on every issue. There is one issue that matters this election and only one: Immigration. Only one candidate has promised to put a cork in it. That alone is reason enough to give him the keys for 4 years. On all other issues combined, he will be better than Obama has been and better than Hillary would be. In every case where he tries to do something bad, evil, or unconstitutional, some staffer will be whispering in his ear, “sir, you can’t do that”. Unlike a Hillary or Obama, Trump won’t be impeachment proof or above the law. He simply doesn’t have that many friends in high places. He has pissed off the entire political establishment. They are going to hold it against him. Judges will be gridlocking his every move.
And that is a good thing. America was designed for checks and balances to mitigate the ability of any tyrant to trample the American People. We are at out best when the different parts of the government are at each other’s throats instead of at ours.