Dan Mitchell’s report card for Trump year 1

A nuanced score with A for deregulation. That is great, I love deregulation and the sweet aroma of CO2. Lets have cheap power and more plant food!

Fiscal policy B
Trade D
Regulation A
Monetary policy C
Rule of law B

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40 Responses to Dan Mitchell’s report card for Trump year 1

  1. André M

    Those may all be fair assessments of their respective categories.

    What is not mentioned is he gets an F for the category of Truth.
    https://www.washingtonpost.com/graphics/politics/trump-claims-database/

  2. RobK

    The trick is these are not discrete catagories like subjects on a report card. Its perhaps a little like a juggler; the many items in play. They cant all be at the top of there orbit and they are all inter-related. Just keeping the momentum in the right direction is a big start.

  3. Fiscal policy B
    Trade D
    Regulation A
    Monetary policy C
    Rule of law B

    Trade – Looking after the interest of his country (A)
    Rule of Law – Looking after the security of his country (A)

    And anyone quoting the Washington Post (or New York Times etc) should be sent to a shithole country to live the grand life espoused by said same media.

  4. Ubique

    The grading analysis makes the error of assuming the President has all the levers which they never, ever do. Trump has been masterful in engendering business and consumer confidence with the result that the economy is surging ahead under the impetus of private investment and 2.5 million new private sector jobs in the first year. It’s just as it should be, with Government simply repairing the framework of the economy (tax reform, massive deregulation and a sound energy policy) and then keeping out of the way while commerce and industry does the rest. On this measure he scores an A+.

  5. Baldrick

    What is not mentioned is he gets an F for the category of Truth

    Bwhahahaha, why didn’t you just quote Buzzfeed. They have more integrity.

  6. I didn’t read the link until now to get a full picture of the grading and the reasons why.

    Fiscal Policy – Tax was good and the benefits are already being reaped. But exactly what is behind the additional outlays? The devil is always in the details.

    Trade – Trump isn’t about protectionism, he’s about getting a fair deal. Look at what’s already happening, manufacturers are returning with some saying moving offshore was a bad mistake. NAFTA is ‘Free’ trade, no such thing ever exists and Trump knows it. He wants ‘Fair’ trade.

    Regulation – Trump should get a A+++ for this. His aim was that for every new regulation, two had to be removed. Apparently the figure is actually around 16-22 removed for every new one introduced.

    Monetary Policy – Nothing to see here, move on rather than make assumptions.

    Rule of Law – Ensuring the safety of American citizens is difficult to understand? Obama installed judges are fighting Trump at every opportunity and doing so against the wishes of the majority of the US population.

    Trump is the first politician that I can ever remember making a set of promises and actually doing his best to keep them, not do a 180 degree turn when getting into office (Malcolm?).

    And as a final note, the author is an economist. While economics is a laudable career, it’s also one that has caused the greatest trauma to modern civilisation. Ask two economists an opinion and you’ll get three different answers.

  7. The Pugilist

    Trade – Looking after the interest of his country (A)

    How is raising costs for businesses and consumer, and implementing policies that destroy more jobs than they create looking after his country’s interest?
    His trade policy is leftist garbage. He’s no better than FDR on that score. The D is right.

  8. How is raising costs for businesses and consumer, and implementing policies that destroy more jobs than they create looking after his country’s interest?

    So, as a world renowned businessman that you clearly must be, can you explain why companies are now coming back to America, re-establishing manufacturing facilities and admitting that things are now much better than it has been. Can you explain why unemployment figures are at their lowest for at least a decade. Can you explain why black employment is up? Can you explain why foodstamp recipients have fallen dramatically? Can you explain why businesses are giving employees bonuses. Can you explain why businesses are now offering higher wages to retain and get new employees? Can you explain why would Tim Cook suddenly want to reinvest in American production?

    Please explain!

  9. jupes

    Immigration and belief in climate change are the two most important issues facing western nations at this point in time.

    I would give the great man an A (-) for both.

    With the exception of some Eastern European countries, everyone else would get an F.

  10. stackja

    Which country has free trade?

  11. The Pugilist

    I’ve said many times, the other things Trump is doing is positive but his trade policies are working against those things.
    Can you explain how making imports more expensive benefits American businesses or consumers?
    No doubt you’re one of those fuckwits that bemoans the death of the Australian car industry. Trump’s trade policies could have been written by Kim Carr or Doug Cameron.

  12. The Pugilist

    The free trade vs fair trade is disingenuous. The simple question all you who support Trump’s trade policies need to answer is: do you support the government artificially raising prices and distorting markets. Yes or no. Nothing else matters in this debate.

  13. I hear a hollow vessel making a lot of noise. And it also looks like a pugilist punching themselves in the face.

  14. Nathan

    Foreign policy a glaring omission and a clear F.

  15. Foreign policy a glaring omission and a clear F.

    Israel, ISIS, North Korea etc. I see no failures, except for Nathan.

  16. https://thepointman.wordpress.com/2018/01/20/twitter-is-fundamentally-corrupt/

    Some thoughts on the Don’s favourite medium of communication with his voters.

    Pointman

  17. DM of WA

    and
    National Security A

  18. Tel

    … do you support the government artificially raising prices and distorting markets.

    Define “artificial”.

    For that matter, define “market”. What sort of markets exist with absolutely no rules (not even property rights) ?

  19. Chris M

    Dan seems a fairly tough one to please, how would he have scored a president H Clinton I wonder?

  20. The Pugilist

    Define “artificial”.

    Government raising or lowering through a variety of means such as tariffs/taxes, subsidies, guaranteed minimum prices, price caps, etc.
    All of these things muffle the information that prices are supposed to convey to producers and consumers. That leads to a misallocation of resources. Pretty basic stuff. Of course markets need rules. But that has very little to do with Trump’s trade policies. He’s not about setting rules. He wants to manipulate prices. Plain and simple. And that goes against everything else he’s doing. His fans here are doing him no favours by trying to say that his trade policies are good.

  21. Ubique

    President Obama wasn’t smart enough to work out that. $1 billion dollar a day trade deficit with China isn’t sustainable. Or that the US has consistently been getting the rough end of the pineapple in its trade deals including NAFTA. President Trump aims to restore some balance to the US’ trading relationships.

  22. BorisG

    President Trump aims to restore some balance to the US’ trading relationships.

    by subsidising US manufacturers at the expense of US consumers.

  23. Crossie

    Which country has free trade?

    We certainly don’t. We seem to have exported every industry along with resources.

  24. Shy Ted

    Dan the girlyman isn’t even trying. At the WaPo Glenn Kessler and Kelly Meg have recorded “President Trump made 2,140 false or misleading claims in his first year”. Glenn and Kelly are in therapy.

  25. The Pugilist

    We seem to have exported every industry along with resources.

    If you fuck up your energy markets and your labour market and become a high cost producer that’s what happens regardless of any trade deals.
    You can either pick ‘internal’ devaluation and have a competitive cost structure or you can pick external devaluation and eventually fuck over your citizens (consumers) with a low exchange rate (ie a worthless currency). We are picking the latter. Closing yourself off and erecting trade barriers is a way to try and maintain an inefficient, bloated cost structure. But that strategy is doomed to fail as your industries become more and more dependent on rent seeking and state favours to survive. I find it interesting that so many of the Trump fanboys think this is a good strategy.
    Tel, out of everyone who comments here, you are the one who surprises me on this. You are so strong on Say’s law, monetary policy and malinvestment. Yet you don’t seem to grasp the fundamentals of why Trump’s trade policies are garbage.
    Bemused, you’re living up to your moniker. You’re so thick, I bet you would struggle to tie your shoes in the morning. Even basic economics must be so confusing for you. Poor little petal.

  26. Bemused, you’re living up to your moniker. You’re so thick, I bet you would struggle to tie your shoes in the morning. Even basic economics must be so confusing for you. Poor little petal.

    Ever the way of the Left, when all else fails, just start with the usual abuse. Feel better now?

    Given that Australia, the US, the UK etc industry have all been struggling with this so-called free trade, it’s quite enlightening how US industry has suddenly boomed and the UK is experiencing major growth since Brexit.

    And Australia has gone from bad to worse with all of its ‘free’ trade. But thankfully because of that ‘free’ trade I can now buy cheap shit from China, whereas before it was expensive (though generally good quality) shit made in Australia.

    All of your posturing resonates like the noise that a hollow vessel makes.

  27. Anne

    Stopping the mass murder of 90% of humanity and enslavement of the remnant A+

    A Report Card?

    Honestly, this is ridiculous. Are people so dim they cannot see what has been averted by Trump’s leadership?

    Hillary, or Jeb, or anybody else for that matter, would have led to a One World Totalitarian Government and Global apocalypse that no blogger or his dog would have survived.

    Wake up!

  28. The Pugilist

    Ever the way of the Left, when all else fails, just start with the usual abuse. Feel better now?

    Bemused, you’re obviously new around here. If you reckon I’m left, you really are just a fuckwit. You started the abuse. I’m just calling you out for being a moron and economically illiterate.
    The problem in Australia is our cost structure. Blaming trade for our problems is straight out of the leftist playbook. It’s an excuse to deflect attention away from how we’ve fucked our markets up and are paying the price now.
    The difference between you and me is I support sound economic principles. You barrack for a side. I’m glad Hillary lost. I think most things Trump is doing is great. But trade is his Achilles heel and will be his undoing. He is losing a key support base. I’ve spoken to a lot of farmers who are Republican to their very core. These Trump voters hated his trade policies but couldn’t vote for Hillary. If the Dems find someone that is merely inoffensive, Trump will struggle at the next election and put at risk everything he is trying to achieve. Calling out his trade policies is actually doing him a favour.

  29. John Brumble

    Andre, yur WaPo list is rubbish. Very first item in the list: abortion.

    Trump sez “several states have no time limit on abortions.
    ‘Fact check’ sez: “Only seven states have no limit abortions.”

    Dishonest knuts.

  30. People in glass houses and all that.

    This was all about the US and Trump’s achievements, not about Australia and our governments’ lack of achievements. I raised it as an example of how the US and Australia seem to differ (in many ways now that Trump is President).

    The US seems to be doing very well indeed, the DOW is up, industry is booming, employment is up, unemployment is down in critical areas such as the black community, offshore industry is returning to the US, European and Australian companies are looking at establishing industry in the US. That really does sound like a bad thing, doesn’t it?

    You should speak to more than just some farmers and perhaps give it a little more time before running around like a headless chook, screaming that the sky is falling. These are the things that other headless chooks were claiming prior to Trump becoming President.

  31. Mother Lode

    With regards to Free Trade – I was under the impression that the FTA’s repudiated by Trump are ones where on balance they worked against America by still permitting protectionism in other countries for whatever reason.

    An example would be that I expect Japan would have very definite attitudes toward rice importation, seeing rice cultivation as having cultural as well as economic significance. In the mid 90’s there was a slump in rice production such that they, for the first time since the war, were compelled to import. So, they imported from Thailand, whose long grain varieties did not work as well as short grain, and so there was no appetite to follow up with imports the next season.

    I do not pretend to know this with certainty. I merely relay what I have heard. But, if it is correct, the attitude might be that, while winning on a few products, America loses on more.

    It would not be beyond imagination that Obama made bad deals – happier to give in just so he can get deals done for his chimerical yet elusive legacy. And the people pulling his strings would be fine as long as it served their agenda, which the bulk of America was definitely not seen as needing to be a beneficiary.

  32. Anne

    They’re all going down.

    ▶Q !UW.yye1fxo  ‪01/22/18 (Mon) 06:25:40‬ No.48

    @Jack, MZ, ES, JB, EM, SH, MSM, etc.
    Do you know that we know?
    Do you know that we see all?
    Do you know that we hear all?
    FEAR the STORM.
    NOBODY PLAYING THE GAME GETS A FREE PASS.
    NOBODY.
    Q

    ▶Q !UW.yye1fxo  ‪01/22/18 (Mon) 06:28:00‬ No.49

    THE SHOT HEARD AROUND THE WORLD.
    THE GREAT AWAKENING.
    A WEEK TO REMEMBER.
    Q

    ▶Q !UW.yye1fxo  ‪01/22/18 (Mon) 06:54:33‬ No.50

    https://www.judicialwatch.org/blog/2015/06/communism-in-jarretts-family/
    Q

  33. The Pugilist

    The US seems to be doing very well indeed, the DOW is up, industry is booming, employment is up, unemployment is down in critical areas such as the black community, offshore industry is returning to the US, European and Australian companies are looking at establishing industry in the US. That really does sound like a bad thing, doesn’t it?

    Yes the US is doing well, but it is DESPITE Trump’s trade policies not because of them. They are doing well because he is addressing the root causes of their problems. He is generally lowering the cost of doing business. but his trade policies work in the opposite direction by raising the cost of imported inputs. Our Government is driving up all of our costs through their domestic policies.
    My key point is that Trump’s trade policies are working against everything else he is trying to do and put his re-election at risk. Then the Dems will have a field day in reregulating the US and blaming all those nasty foreigners for their self-imposed problems. They will take his trade policies and double down on isolationist shit. All communist states pursue policies of autarky and ‘self-sufficiency’.
    Economic prosperity comes from two sources. Specialisation and creative destruction. Trump’s trade policies inhibit specialisation and work against economic growth. That specialisation and trade are key to economic growth and prosperity is pretty much beyond dispute in the economics community. I have conversed with American farmers about their thoughts on Trump because that is the field that I work in. They are a key demographic for his re-election and are willing to walk away. They held their noses and voted for him in the hope that he wouldn’t enact his trade policies. But if he does, then that will become a big issue in Texas and the Mid west. I want to see the rest of Trump’s agenda succeed. But trade is his weakness and will be his undoing. Is the sky falling? NO. But he could throw away his opportunity to make lasting changes, not just for the US but the rest of the world too.

  34. Nathan

    Free trade agreements are the antithesis of free trade, as you don’t need an agreement, you just remove all tariffs, subsidies, duties, etc. No paper required, only a pair of scissors.

  35. The Pugilist

    With regards to Free Trade – I was under the impression that the FTA’s repudiated by Trump are ones where on balance they worked against America by still permitting protectionism in other countries for whatever reason.

    So then why does he also repudiate the WTO? He is giving a free pass to China and India to keep manipulating the global rules. His policy is incoherent and works against what he says he is trying to achieve. If he was serious he’d be putting all his effort into making the WTO a success and shaming the large developing countries into compliance. That’s where the global trade rules are set. Not in agreements. China is licking its lips at the US vacating its global leadership role. It sees a massive opportunity and is challenging for Asia-Pacific dominance. as a stepping stone. The US needs to stand up and push the case for freedom, not shy away and turn inwards.

  36. Mother Lode

    I dunno pugilist. As I said, I am far from certain on this.

    With regards to the WTO it might simply be that he is picking his battles instead of trying to fight them all at once.

    Nathan,

    I see what you mean about FTA’s being the antithesis of Free Trade, but surely the distinction is that Free Trade is omnilateral, whereas FTA’s are bi-lateral (or tri-lateral or whatever). While a nation might have protectionist policies, an FTA means taking them down with respect to the nation they have the agreement with but retaining them with everybody else.

    Someone here linked to an article demonstrating that protectionist policies actually work against the nations that impose them as they prevent them from making the most of industries where they have a competitive advantage and forces them to pay more for ones where they don’t. For politicians and FTA is an attempt at the best of both worlds.

    And, naturally, they screw it up.

  37. EvilElvis

    Yes the US is doing well, but it is DESPITE Trump’s trade policies not because of them. They are doing well because he is addressing the root causes of their problems.

    Just relax pugilist, you’ve nailed it here. Let the man address the root causes, he will have time to tinker.

  38. mh

    The American worker has given their opinion on NAFTA. The fact that the wife of the President who signed off on it couldn’t run far enough from it during the US Presidential race in 2016, says enough about what NAFTA is for America – pure poison.

  39. nerblnob

    Trump’s stated trade policies , or at least his protectionist rhetoric, were a worry to me, but I don’t actually see any actual negative effects or hugely protectionist actions — yet.

    Some of it is just “carrying a big stick” to start from a better negotiating position.

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