SAY WHAT GEORGE W. BUSH COULD SAY IN A MOMENT OF CRISIS IN THE SAY IN A MOMENT OF CRISIS IN THE AMERICAN ECONOMY. AMERICAN ECONOMY. “THIS SUCKER COULD GO DOWN.” “THIS SUCKER COULD GO DOWN.” LEADING OFF OUR DISCUSSION LEADING OFF OUR DISCUSSION TONIGHT, GENE SPERLING, FORMER TONIGHT, GENE SPERLING, FORMER DIRECTOR OF THE NATIONAL DIRECTOR OF THE NATIONAL ECONOMIC COUNCIL FOR PRESIDENTS ECONOMIC COUNCIL FOR PRESIDENTS OBAMA AND CLINTON. OBAMA AND CLINTON. HE IS WHO I PRAY TO WHEN I AM HE IS WHO I PRAY TO WHEN I AM LOOKING FOR A SOLUTION TO LOOKING FOR A SOLUTION TO AMERICAN ECONOMIC ISSUES. AMERICAN ECONOMIC ISSUES. AND RON KLAIN, FORMER SENIOR AND RON KLAIN, FORMER SENIOR AIDE TO VICE PRESIDENT JOE BIDEN AIDE TO VICE PRESIDENT JOE BIDEN AND PRESIDENT OBAMA. AND PRESIDENT OBAMA. HE’S AN ADVISER OF JOE BIDEN’S HE’S AN ADVISER OF JOE BIDEN’S 2020 PRESIDENTIAL CAMPAIGN NOW. 2020 PRESIDENTIAL CAMPAIGN NOW. GENE, YOU HAVE THE FLOOR. GENE, YOU HAVE THE FLOOR. I DIDN’T ANTICIPATE TALKING I DIDN’T ANTICIPATE TALKING ABOUT INVERTED YIELD CURVES THIS ABOUT INVERTED YIELD CURVES THIS WEEK, BUT HERE WE ARE. WEEK, BUT HERE WE ARE.>>YES.>>YES. WELL, I THINK WHAT WE’RE SEEING, WELL, I THINK WHAT WE’RE SEEING, LAWRENCE, IS THAT OUR BIGGEST LAWRENCE, IS THAT OUR BIGGEST FEAR WITH GEORGE — WITH FEAR WITH GEORGE — WITH PRESIDENT TRUMP ISN’T JUST PRESIDENT TRUMP ISN’T JUST ECONOMIC NATIONALISM. ECONOMIC NATIONALISM. IT IS ECONOMIC NARCISSISM. IT IS ECONOMIC NARCISSISM. IT IS THIS KIND OF DRUNK DRIVING IT IS THIS KIND OF DRUNK DRIVING TYPE OF ECONOMIC MANAGEMENT. TYPE OF ECONOMIC MANAGEMENT. NOW, WHEN YOU DRIVE DRUNK, YOU NOW, WHEN YOU DRIVE DRUNK, YOU DON’T ALWAYS GET INTO AN DON’T ALWAYS GET INTO AN ACCIDENT, BUT YOU DRAMATICALLY ACCIDENT, BUT YOU DRAMATICALLY INCREASE THE CHANCES OF INCREASE THE CHANCES OF SOMETHING VERY BAD HAPPENING. SOMETHING VERY BAD HAPPENING. DONALD TRUMP INHERITED, LIKE HE DONALD TRUMP INHERITED, LIKE HE INHERITED WEALTH FROM HIS DAD, INHERITED WEALTH FROM HIS DAD, HE INHERITED AN ECONOMY THAT WAS HE INHERITED AN ECONOMY THAT WAS SOLID, THAT WAS IMPROVING, AND SOLID, THAT WAS IMPROVING, AND WHAT WE SAW FIRST WAS A HUGE TAX WHAT WE SAW FIRST WAS A HUGE TAX CUT WHICH WE NOW SEE WAS REALLY CUT WHICH WE NOW SEE WAS REALLY BASED ON ONE THING THAT IT WAS BASED ON ONE THING THAT IT WAS GOING TO JUSTIFY THIS HUGE GOING TO JUSTIFY THIS HUGE INCREASE IN THE DEFICIT BECAUSE INCREASE IN THE DEFICIT BECAUSE IT WAS GOING TO HAVE A LASTING IT WAS GOING TO HAVE A LASTING EFFECT ON BUSINESS INVESTMENT. EFFECT ON BUSINESS INVESTMENT. WE’VE ALREADY SEEN FROM JAY WE’VE ALREADY SEEN FROM JAY POWELL, TO THE SECOND-QUARTER POWELL, TO THE SECOND-QUARTER RESULTS, THAT BUSINESS RESULTS, THAT BUSINESS INVESTMENT IS SLOWING. INVESTMENT IS SLOWING. IF YOU TAKE OUT OIL AND MINING, IF YOU TAKE OUT OIL AND MINING, IT’S ACTUALLY BEEN SLOWER THAN IT’S ACTUALLY BEEN SLOWER THAN IT WAS IN THE OBAMA SECOND TERM. IT WAS IN THE OBAMA SECOND TERM. BUT WHAT WE’VE ALSO SEEN IS THIS BUT WHAT WE’VE ALSO SEEN IS THIS RECKLESS TYPE OF MANAGEMENT ON RECKLESS TYPE OF MANAGEMENT ON THE TRADE SIDE. THE TRADE SIDE. AND THIS IS SOMETHING WHERE AND THIS IS SOMETHING WHERE THERE COULD HAVE BEEN A SMART THERE COULD HAVE BEEN A SMART WAY TO DO IT. WAY TO DO IT. I AGREE, WE SHOULD BE TOUGHER ON I AGREE, WE SHOULD BE TOUGHER ON CHINA. CHINA. I AGREE, WE SHOULD TAKE SOME I AGREE, WE SHOULD TAKE SOME SHORT-TERM HITS BUT THIS KIND OF SHORT-TERM HITS BUT THIS KIND OF RECKLESS BACK AND FORTH HAS NOW RECKLESS BACK AND FORTH HAS NOW BEEN SUCH AN ASSAULT TO NOT JUST BEEN SUCH AN ASSAULT TO NOT JUST THE U.S. ECONOMY BUT THE GLOBAL THE U.S. ECONOMY BUT THE GLOBAL ECONOMY THAT NOW THE NUMBER ONE ECONOMY THAT NOW THE NUMBER ONE SINGLE RISK FACTOR IN ECONOMICS SINGLE RISK FACTOR IN ECONOMICS IN THE WORLD IS DRUPONALD TRUMP IN THE WORLD IS DRUPONALD TRUMP PERSONALLY. PERSONALLY. THAT’S WHEY I SAY ECONOMIC THAT’S WHEY I SAY ECONOMIC NARCISSISM BECAUSE IT IS HIS NARCISSISM BECAUSE IT IS HIS SENSE OF RECKLESSNESS AND HIS SENSE OF RECKLESSNESS AND HIS SENSE THAT SOMEHOW MAYBE IF HE SENSE THAT SOMEHOW MAYBE IF HE REALLY HURTS THE CHINA ECONOMY REALLY HURTS THE CHINA ECONOMY OR THE GERMAN ECONOMY OR THE OR THE GERMAN ECONOMY OR THE GLOBAL MANUFACTURING GOES DOWN GLOBAL MANUFACTURING GOES DOWN THAT THAT’S SOMEHOW GOOD FOR US. THAT THAT’S SOMEHOW GOOD FOR US. IT’S NOT. IT’S NOT. WHEN DEMAND GOES DOWN AROUND THE WHEN DEMAND GOES DOWN AROUND THE WORLD, IT HURTS OUR FARMERS. WORLD, IT HURTS OUR FARMERS. IT HURTS OUR STEELMAKERS. IT HURTS OUR STEELMAKERS. IT HURTS OUR AUTO PRODUCERS. IT HURTS OUR AUTO PRODUCERS. IT HURTS OUR ECONOMY. IT HURTS OUR ECONOMY. SO THE RISK THAT EXISTS RIGHT SO THE RISK THAT EXISTS RIGHT NOW IN THE ECONOMY LIES — IN NOW IN THE ECONOMY LIES — IN THE GLOBAL ECONOMY AND THE U.S. THE GLOBAL ECONOMY AND THE U.S. ECONOMY — LIES SQUARELY, ECONOMY — LIES SQUARELY, SCARILY ON DONALD TRUMP’S SCARILY ON DONALD TRUMP’S RECKLESS DRUNK DRIVING APPROACH RECKLESS DRUNK DRIVING APPROACH TO ECONOMIC MANAGEMENT. TO ECONOMIC MANAGEMENT.>>RON KLAIN, WE HAVE THE FAMOUS>>RON KLAIN, WE HAVE THE FAMOUS WORDS OF DONALD TRUMP, THE TRADE WORDS OF DONALD TRUMP, THE TRADE WARS ARE EASY TO WIN. WARS ARE EASY TO WIN. NO ONE BEFORE DONALD TRUMP HAS NO ONE BEFORE DONALD TRUMP HAS THOUGHT THAT. THOUGHT THAT. CERTAINLY NOT IN THE ERA OF CERTAINLY NOT IN THE ERA OF MODERN ECONOMIC THOUGHT. MODERN ECONOMIC THOUGHT.>>YEAH, I MEAN, ECONOMIC POLICY>>YEAH, I MEAN, ECONOMIC POLICY BASED ON RETWEETS, WHAT COULD BASED ON RETWEETS, WHAT COULD POSSIBLY GO WRONG? POSSIBLY GO WRONG?>>YEAH.>>YEAH.>>LOOK, I ALSO THINK, LAWRENCE,>>LOOK, I ALSO THINK, LAWRENCE, IT’S WORTH REPEATING SOMETHING IT’S WORTH REPEATING SOMETHING YOU MENTIONED BEFORE ABOUT THE YOU MENTIONED BEFORE ABOUT THE HOLLOW WHITE HOUSE STAFF. HOLLOW WHITE HOUSE STAFF. I WORKED FOR TWO BRILLIANT I WORKED FOR TWO BRILLIANT PRESIDENTS. PRESIDENTS. BILL CLINTON AND BARACK OBAMA. BILL CLINTON AND BARACK OBAMA. AS BRILLIANT AS THEY WERE, THEY AS BRILLIANT AS THEY WERE, THEY HAVE, LIKE, A BILLION I.Q. HAVE, LIKE, A BILLION I.Q. POINTS ON DONALD TRUMP, THERE POINTS ON DONALD TRUMP, THERE WASN’T A SINGLE MEETING WHERE WASN’T A SINGLE MEETING WHERE THEIR THOUGHTS ON THE ECONOMY THEIR THOUGHTS ON THE ECONOMY WAS IMPROVED BY HAVING A WAS IMPROVED BY HAVING A FIRST-CLASS TEAM AROUND THEM OF FIRST-CLASS TEAM AROUND THEM OF PEOPLE LIKE GENE SPERLING. PEOPLE LIKE GENE SPERLING. NOW YOU HAVE A PRESIDENT WHO’S NOW YOU HAVE A PRESIDENT WHO’S NOWHERE NEAR BARACK OBAMA AND NOWHERE NEAR BARACK OBAMA AND BILL CLINTON TRYING TO MANAGE AN BILL CLINTON TRYING TO MANAGE AN ECONOMIC SITUATION WITH A TEAM ECONOMIC SITUATION WITH A TEAM THAT’S NOWHERE NEAR THE TEAM THAT’S NOWHERE NEAR THE TEAM THOSE TWO PRESIDENTS HAD AND THOSE TWO PRESIDENTS HAD AND THAT IS A FRIGHTENING THAT IS A FRIGHTENING COMBINATION. COMBINATION. NOW, TRUMP HAS MADE HIS WHOLE NOW, TRUMP HAS MADE HIS WHOLE ECONOMY ABOUT THE STOCK MARKET ECONOMY ABOUT THE STOCK MARKET WHICH I THINK IS A MISTAKE FOR WHICH I THINK IS A MISTAKE FOR ANY PRESIDENT. ANY PRESIDENT. SINCE HE’S BEEN PRESIDENT, HE SINCE HE’S BEEN PRESIDENT, HE TWEETED 72 TIMES BRAGGING ABOUT TWEETED 72 TIMES BRAGGING ABOUT THE STOCK MARKET RESULTS. THE STOCK MARKET RESULTS. SEVEN TIMES IN THE PAST FOUR SEVEN TIMES IN THE PAST FOUR WEEKS. WEEKS. AND YOU KNOW WHAT GOES UP DOES AND YOU KNOW WHAT GOES UP DOES GO DOWN. GO DOWN. WITH HIS RECKLESS APPROACH TO WITH HIS RECKLESS APPROACH TO TRADE AND OTHER ECONOMIC ISSUES, TRADE AND OTHER ECONOMIC ISSUES, THE TAX CUT THAT WAS SQUANDERED THE TAX CUT THAT WAS SQUANDERED THE WAY IT WAS, WE GOT A BIG THE WAY IT WAS, WE GOT A BIG MESS ON OUR HANDS AND THERE’S NO MESS ON OUR HANDS AND THERE’S NO ONE IN THE WHITE HOUSE WHO CAN ONE IN THE WHITE HOUSE WHO CAN HANDLE THAT. HANDLE THAT.>>SO, GENE, WE’VE ALREADY SEEN>>SO, GENE, WE’VE ALREADY SEEN ONE QUARTER OF NEGATIVE ECONOMIC ONE QUARTER OF NEGATIVE ECONOMIC GROWTH IN GERMANY. GROWTH IN GERMANY. IF THE NEXT QUARTER IS NEGATIVE, IF THE NEXT QUARTER IS NEGATIVE, THAT’S OFFICIALLY A RECESSION THAT’S OFFICIALLY A RECESSION THERE. THERE. YOU WERE JUST ON THIS POINT, AND YOU WERE JUST ON THIS POINT, AND THIS IS SOMETHING THAT DONALD THIS IS SOMETHING THAT DONALD TRUMP DOESN’T UNDERSTAND, THAT TRUMP DOESN’T UNDERSTAND, THAT GERMANY IS A CUSTOMER OF THE GERMANY IS A CUSTOMER OF THE UNITED STATES, A MAJOR AND UNITED STATES, A MAJOR AND IMPORTANT CUSTOMER OF THE UNITED IMPORTANT CUSTOMER OF THE UNITED STATES. STATES. IF THEIR BUYING POWER DROPS, IF IF THEIR BUYING POWER DROPS, IF THEY’RE LESS ABLE TO PURCHASE THEY’RE LESS ABLE TO PURCHASE WHAT WE HAVE TO SELL THEM, WHAT WE HAVE TO SELL THEM, THAT’S A PROBLEM FOR US. THAT’S A PROBLEM FOR US. THEY ARE INTERCONNECTED TO US IN THEY ARE INTERCONNECTED TO US IN VARIOUS SUPPLY CHAINS IN VARIOUS SUPPLY CHAINS IN MANUFACTURING. MANUFACTURING. PARTS OF A MANUFACTURING PROCESS PARTS OF A MANUFACTURING PROCESS MIGHT GO FROM GERMANY TO THE MIGHT GO FROM GERMANY TO THE UNITED STATES, THAT’S ALL UNITED STATES, THAT’S ALL AFFECTED BY THIS AND DONALD AFFECTED BY THIS AND DONALD TRUMP HAS ALWAYS THOUGHT IN HIS TRUMP HAS ALWAYS THOUGHT IN HIS TRADE WAR HE CAN THROW PUNCHES TRADE WAR HE CAN THROW PUNCHES AT OTHER COUNTRIES AND WHEN HE’S AT OTHER COUNTRIES AND WHEN HE’S THROWING THE PUNCH, HE’S NEVER THROWING THE PUNCH, HE’S NEVER GOING TO HURT HIS KNUCKLES IN GOING TO HURT HIS KNUCKLES IN THE PROCESS AND IT TURNS OUT IN THE PROCESS AND IT TURNS OUT IN TRADE WARS, IT IS IMPOSSIBLE TO TRADE WARS, IT IS IMPOSSIBLE TO THROW THESE KINDS OF PUNCHES THROW THESE KINDS OF PUNCHES WITHOUT DOING DAMAGE TO YOUR OWN WITHOUT DOING DAMAGE TO YOUR OWN ECONOMY. ECONOMY.>>NO, I MEAN, THAT’S EXACTLY>>NO, I MEAN, THAT’S EXACTLY RIGHT, LAWRENCE. RIGHT, LAWRENCE. I MEAN, REALLY, IT’S BOTH WAYS, I MEAN, REALLY, IT’S BOTH WAYS, RIGHT? RIGHT? FIRST YOU END UP HAVING FIRST YOU END UP HAVING SELF-INFLICTED WOUNDS. SELF-INFLICTED WOUNDS. HOW’S IT GOING FOR AGRICULTURE HOW’S IT GOING FOR AGRICULTURE EX EX EXPORTS OF THE UNITED STATES? EXPORTS OF THE UNITED STATES? SOYBEAN EXPORTERS. SOYBEAN EXPORTERS. IT’S BEEN A DISASTER. IT’S BEEN A DISASTER. WE NOW HAVE INDUSTRIAL WE NOW HAVE INDUSTRIAL PRODUCTION, AND MANUFACTURING, PRODUCTION, AND MANUFACTURING, HIS BIG FOCUS, IS DOWN TWO HIS BIG FOCUS, IS DOWN TWO QUARTERS. QUARTERS. THAT’S A TECHNICAL RECESSION FOR THAT’S A TECHNICAL RECESSION FOR INDUSTRIAL PRODUCTION. INDUSTRIAL PRODUCTION. ONE, YOU END UP HITTING YOURSELF ONE, YOU END UP HITTING YOURSELF IN THE PROCESS, BUT SECONDLY, IN THE PROCESS, BUT SECONDLY, INSTEAD OF WORKING WITH GERMANY INSTEAD OF WORKING WITH GERMANY AND CANADA AND OTHER COUNTRIES AND CANADA AND OTHER COUNTRIES IN A COHERENT WAY THAT MIGHT IN A COHERENT WAY THAT MIGHT HAVE BEEN DIRECTED TOWARD HAVE BEEN DIRECTED TOWARD ISOLATING CHINA, THIS KIND OF ISOLATING CHINA, THIS KIND OF JUST, AGAIN, KIND OF DRUNK JUST, AGAIN, KIND OF DRUNK DRIVING APPROACH ENDS UP JUST DRIVING APPROACH ENDS UP JUST CREATING RISK AND HARM IN THE CREATING RISK AND HARM IN THE GLOBAL ECONOMY AND SO NOT ONLY GLOBAL ECONOMY AND SO NOT ONLY IS IT BAD WHEN GERMANY GOES TO IS IT BAD WHEN GERMANY GOES TO NEGATIVE GROWTH, BUT YOU’VE SEEN NEGATIVE GROWTH, BUT YOU’VE SEEN THAT CHINA NOW HAD INDUSTRIAL THAT CHINA NOW HAD INDUSTRIAL PRODUCTION AT ITS LOWEST IN, PRODUCTION AT ITS LOWEST IN, PERHAPS, 17 YEARS. PERHAPS, 17 YEARS. NONE OF THAT IS GOOD. NONE OF THAT IS GOOD. IT’S NOT GOOD WHEN YOU HURT YOUR IT’S NOT GOOD WHEN YOU HURT YOUR OWN AGRICULTURE EXPORTERS AND OWN AGRICULTURE EXPORTERS AND YOUR OWN MANUFACTURESRS, BUT WHE YOUR OWN MANUFACTURESRS, BUT WHE YOU LOWER DEMAND IN THE WORLD, YOU LOWER DEMAND IN THE WORLD, IN GERMANY, IMPORTANT CUSTOMER, IN GERMANY, IMPORTANT CUSTOMER, IN CHINA, IN THE GLOBAL ECONOMY, IN CHINA, IN THE GLOBAL ECONOMY, YOU HURT ALL OF THE PEOPLE IN YOU HURT ALL OF THE PEOPLE IN THE UNITED STATES WHO RELY ON THE UNITED STATES WHO RELY ON STRONG GLOBAL DEMAND, AND, YOU STRONG GLOBAL DEMAND, AND, YOU KNOW, THE QUESTION NOW IS, CAN KNOW, THE QUESTION NOW IS, CAN HE PULL OUT OF IT? HE PULL OUT OF IT? YOU KNOW, YOU ASKED WHAT YOU YOU KNOW, YOU ASKED WHAT YOU HAVE TO DO. HAVE TO DO. YOU ACTUALLY DON’T NEED TO KNOW YOU ACTUALLY DON’T NEED TO KNOW TOO MUCH ABOUT ECONOMICS TO KNOW TOO MUCH ABOUT ECONOMICS TO KNOW THAT WHEN YOU’RE DUGGING A HOLE, THAT WHEN YOU’RE DUGGING A HOLE, STOP DIGGING AND THE WAY DONALD STOP DIGGING AND THE WAY DONALD TRUMP HAS, AGAIN, MANAGED THIS TRUMP HAS, AGAIN, MANAGED THIS ECONOMY IS THAT HE IS THE ECONOMY IS THAT HE IS THE NUMBER-ONE RISK FACTOR. NUMBER-ONE RISK FACTOR. IF HE SIMPLY DID NOTHING, THE IF HE SIMPLY DID NOTHING, THE ENTIRE U.S. AND GLOBAL ECONOMY ENTIRE U.S. AND GLOBAL ECONOMY WOULD BE IN STRONGER SHAPE THAN WOULD BE IN STRONGER SHAPE THAN IT IS NOW. IT IS NOW.>>RON, WE HAVE A FOX NEWS POLL>>RON, WE HAVE A FOX NEWS POLL SAYING SAYING SAYING UNSATISFIED WITH THE WAY SAYING UNSATISFIED WITH THE WAY THINGS ARE GOING, A VERY GENERAL THINGS ARE GOING, A VERY GENERAL STATEMENT. STATEMENT. SATISFIED IS ONLY 40%. SATISFIED IS ONLY 40%. UNSATISFIED IS 59%. UNSATISFIED IS 59%. THAT IS BEFORE THE INVERTED THAT IS BEFORE THE INVERTED YIELD CURVE. YIELD CURVE.>>YEAH.>>YEAH. YEAH, I MEAN, I THINK THERE’S YEAH, I MEAN, I THINK THERE’S ALSO AN INVERTED APPROVAL CURVE ALSO AN INVERTED APPROVAL CURVE FOR DONALD TRUMP THERE. FOR DONALD TRUMP THERE.>>YES.>>YES.>>IT’S HEADED IN THE WRONG>>IT’S HEADED IN THE WRONG DIRECTION, AS IT SHOULD BE. DIRECTION, AS IT SHOULD BE. LOOK, I MEAN, AGAIN, I DON’T LOOK, I MEAN, AGAIN, I DON’T THINK YOU CAN JUDGE A PRESIDENT THINK YOU CAN JUDGE A PRESIDENT BY THE MARKET. BY THE MARKET. MARKETS ARE IMPACTED BY A LOT OF MARKETS ARE IMPACTED BY A LOT OF FACTORS OUTSIDE HIS OR HER FACTORS OUTSIDE HIS OR HER CONTROL. CONTROL. BUT YOU CAN JUDGE A PRESIDENT BY BUT YOU CAN JUDGE A PRESIDENT BY THE POLICIES THEY PURSUE ON THE THE POLICIES THEY PURSUE ON THE ECONOMY AND WHAT DONALD TRUMP ECONOMY AND WHAT DONALD TRUMP PROMISED WAS TO INVEST IN PROMISED WAS TO INVEST IN WORKING PEOPLE. WORKING PEOPLE. HE PROMISED TO HAVE AN HE PROMISED TO HAVE AN INFRASTRUCTURE PLAN. INFRASTRUCTURE PLAN. HE PROMISED THAT HE’D HAVE A HE PROMISED THAT HE’D HAVE A BIG, BEAUTIFUL HEALTH CARE PLAN. BIG, BEAUTIFUL HEALTH CARE PLAN. HE PROMISED A LOT OF FUNDAMENTAL HE PROMISED A LOT OF FUNDAMENTAL STAPLES, KITCHEN-TABLE THINGS STAPLES, KITCHEN-TABLE THINGS FOR WORKING PEOPLE AND I THINK FOR WORKING PEOPLE AND I THINK PEOPLE FOR BETTER OR WORSE PEOPLE FOR BETTER OR WORSE BELIEVED HIM WITH THOSE PROMISES BELIEVED HIM WITH THOSE PROMISES AND HE’S DELIVERED ABSOLUTELY UP AND HE’S DELIVERED ABSOLUTELY UP IN OF THEM. IN OF THEM. HE’S RUN THE MOST KLEPTOCRATIC HE’S RUN THE MOST KLEPTOCRATIC ADMINISTRATION IN HISTORY AND AN ADMINISTRATION IN HISTORY AND AN ECONOMIC POLICY THAT’S ECONOMIC POLICY THAT’S EXACERBATED INEQUALITY AND EXACERBATED INEQUALITY AND DELIVERS ALL OF ITS GAINS TO DELIVERS ALL OF ITS GAINS TO THOSE AT THE VERY TOP. THOSE AT THE VERY TOP. SO IT’S NO SURPRISE, UNLESS SO IT’S NO SURPRISE, UNLESS YOU’RE POLLING THE VERY TOP .1 YOU’RE POLLING THE VERY TOP .1 OF 1% THAT THE NUMBER IS PEOPLE OF 1% THAT THE NUMBER IS PEOPLE RUN SATISFIED WITH THAT. RUN SATISFIED WITH THAT. AND AS YOU SAY, THAT’S BEFORE AND AS YOU SAY, THAT’S BEFORE TODAY’S EVENTS. TODAY’S EVENTS. THAT’S GOING TO GET WORSE FOR THAT’S GOING TO GET WORSE FOR HIM, NOT BETTER. HIM, NOT BETTER.>>RON KLAIN, THANK YOU VERY>>RON KLAIN, THANK YOU VERY MUCH FOR JOINING US AGAIN MUCH FOR JOINING US AGAIN TONIGHT AND GENE SPERLING, TONIGHT AND GENE SPERLING, ECONOMIC ADVISER TO PRESIDENTS, ECONOMIC ADVISER TO PRESIDENTS, COULD NOT DO THIS WITHOUT YOU, COULD NOT DO THIS WITHOUT YOU, AND AS THIS ECONOMIC NEWS AND AS THIS ECONOMIC NEWS CONTINUES, WE’RE GOING TO NEED CONTINUES, WE’RE GOING TO NEED YOU. YOU. STAY BY THE PHONE, GENE.

92 thoughts on “Obama Econ. Advisor: President Donald Trump Is Danger To World Economy | The Last Word | MSNBC”

  1. What's PLAN BEE if you don't VOTE" – FROM CANADA —is it TRUE that Trump went BANKRUPT 6 TIMES????? AND YOU ALLOWED HIM IN OFFICE ?????? You should update your laws.

  2. Tanking The Economy by Donny Dumbo Trump isn't unexpected in particular when such a leader deceive, and divided us into his daily ranted narcissism. His racial economical aims are the opposite of a successful and more united society working together toward better future. Of course the only Economics 101 Donny Dumbo knows are from Trump University. Btw Economists are always the last to abandon the sinking ship. ๐Ÿค”Hmmm

  3. It comes as no surprise that none of his words are factual. Sadly there is still a huge fanatic religious cult like base that worships him regardless of what he says or what disastrous policies he enacts. A wanna-be playboy fake millionairre without experience or knowledge of civics, impulsive and reckless, who is assisted into office by our adversary and places loyalists into positions of authority in the branches of government designed to check and balance and hold him accountable, what could possibly go wrong?

  4. Nothing makes Trump happier than not knowing what he's talking about. The less he knows, the happier he is. I never believed that you needed to be a genius in order to be president, but you should at least have a curious mind. Trump is possibly the most intellectually incurious person I've ever seen. He knows less than nothing, and yet he refuses to listen to the experts with years of experience in their fields. Instead of surrounding himself with highly qualified experts, he has surrounded himself with C and D list sycophants, roguish grifters, and the most unqualified and unprincipled staff of neophytes ever assembled. It's a recipe for disaster.

  5. Good word for Trump–reckless. He causes reckless chaos daily than runs away and never takes responsibility for his failures.

  6. That's right… What Don the Con touches eventually turns to Orange mold … just ask his sons Eric and Don Jr… they are stunt doubles for Beavis and Butthead

  7. To be fair, Trump and his advisors will be too busy moving their own money abroad to worry about the US economy.

  8. Again the racist and hateful media spreading there agenda becuse the 1 percent cant countral trump so they control the media and the stupid people

  9. The trickle down theory is never working and only benefits the rich. You should try more socialism in your economy. Fire this crook please!

  10. Ok,let's simplify this,if you allow capitalism a free rein,if you allow captains of industry a free rein,guess what happens,,your FUKED, ,but dont worry wall st ,,the working people of the world will pay for it,,as usual,,,

  11. Perhaps the one good thing thats left when trump's ๐Ÿ’ฉshow is over, will be the insight amongst Americans that the "outside businessman for president" nonsense is done and dusted?

    Who am I kidding…?

  12. Donald Trump failed 101 economics or I should say pay them off to pass them. In the proof is in the actions that he's taking for this nation. Epic failure. Before it all falls find time to stock up Goods. Just my opinion. The rich already got their tax break so they were ready for what's coming. The rest of us living check to check wasn't meant to be ready for what's coming.

  13. Lets give our healthcare to the world anybody welcome our tax money will pay for it dont worry my family can come last

  14. Trade wars is easy he says he just say "words" with no accountability just because it sounds cool at the time. Witch is always been a thing even when he is attacking others as well

  15. NO!!! WHAT!! But the economy was boomin!!!! Wonder if Vladdy and lil Kim gonna write still when ya locked up??? They'll probably cheat on you Donny you know you can't trust em holy crap BANKRUPT AGAIN…. Better luck in 2020 ๐Ÿคฅ๐Ÿคฅ๐Ÿคฅ๐Ÿคก๐Ÿคก๐Ÿคก๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚ GET TF OUTTA HERE … WHOOP WHOOP THATS THE SOUND OF THE ๐Ÿ‘ฎ๐Ÿ‘ฎ๐Ÿ‘ฎ๐Ÿ‘ฎ๐Ÿ‘ฎ It's cool tho I heard Barr knows a secret entrance to that jail.. That's what Epstein said๐Ÿ’ฉ๐Ÿ’ฉ๐Ÿ’ฉ You'll probably meet a white supremacist with diet coke and if you do sumpin strange he may be able to get his boo thang to bring you McDonald's fish sandwich ๐Ÿค”๐Ÿค—๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

  16. the guy who went bankrupt a bunch of times himself then bankrupted our nation when he was entrusted with the most important job which he wasn't qualified for? no way! whodathunk!

  17. There is something fundamentally wrong in the way democracy is organized in the US when in a country with the best universities on the planet, including a large percentage of the cleverest scientists, the people allow a nacissist imbecile to run the economy, helped by a bunch of hypocrite profiteering billionaires. When the economy will come crashing down, the blame will be put on the democrats.

  18. Donald Trump comes from one of the simplest businesses in the world: real estate. He thinks it is a zero sum game all, which is why he was bad at real estate. Trump surrounds himself with people who cannot think beyond the level of junior high school pranks, like Bolton and Mnuchin. That is why America is going down. And you know what? HALF of the Americans he is doing great!!!

  19. Trump brags about the stock market because this is where his circle of friends make their money. I don't know why anyone in America voted for a man who ruined small businesses by not paying his bills because they did not have the resources to fight back. Did they really think Trump cares anything about ordinary Americans? Come on now…

  20. Not only a danger to National Security in America , the reckless inept #45 is also a danger to the American and world economy ,, IMPEACH AND JAIL THIS TRAITOR NOW !!!!

  21. Trump is faking his way as a president. He doesn't KNOW how to run a country, much less the economy.
    Trump doesn't want to appear as inept that he KNOWS he is.

  22. The end is fast approaching now – he's having to defend his incompetence and past lifestyles and "alliances" on all fronts. – this "faltering" in the economy really is the cloud that will bring some comfort to mainstream Republicans as having a "silver lining" They may not have wanted to see it, but it will provide them with the means to remove "the worst president in history" from the White House. He and the more sycophantic Republicans will be cornered in their attempts to spin and distract. Expect him now to mentally unravel – all efforts now, from his inner circle, as you might expect, will be focussed on preventing him publicising that "unravelling" on Twitter. Just as likely though, Republicans will recognise, reluctantly, that it may be the only course of action left to them to save the Republican Party – to let him embark on a course of "tweeted" self-humiliation.

  23. Wow, we have a big mess. Germany is headed for recession and we will be right behind our friends and allies. Trump is crazy ๐Ÿ˜œ

  24. If the right and left starts working together "PEACEFULLY" it will bring us "TOGETHER"
    you guys are our leaders , we follow you " RIGHT " & " LEFT " with absolute loyalty !!!

  25. China is now increasing it's exports to Europe , Africa and the middle east . Germany is now picking up on it's sheet metal work across the Globe . China has entered into new import deals across the world for non GMO foods and has signed up several countries to increase production output. This will surely have a massive effect on the US agricultural exports.

  26. They teach this in the Military – there are four kinds of leaders. Best is someone who is competent and energetic – He knows what to do and gets the job done. Next best is someone competent but not energetic; with competent people helping him, he'll still get the job done. Next best is the incompetent but lazy guy; at least he's too slow to be hurting anyone. Worst of all is the one who is incompetent and energetic. He doesn't have a clue what he's doing, believes that he actually does, and is energetically making any bad situation worse. Trump is the World's biggest example of that last category.

  27. why can't america play fair win and loose fairly. Why always gotta use military to get its way. If USA keeps it up the world will disarm you.

  28. 2๏ธโƒฃ0๏ธโƒฃ1๏ธโƒฃ9๏ธโƒฃ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ˜Ž๐Ÿ‘Š…"trump must know he has turned america into a nightmare fetish shame on you son!'.

  29. ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ—ฝ๐Ÿ—ฝ๐Ÿ—ฝ๐Ÿ—ฝ
    I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA , AS 1 NATION , UNDER GOD , "INDIVISIBLE" WITH LIBERTY AND JUSTICE FOR ALL ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ DONT FORGET WHO YOU ARE , COME TOGETHER AS ONE !!! IN OUR PLEDGE OF ALLEGIANCE MENTIONS THE WORD "INDIVISIBLE" WHICH MEANS NOTHING CAN DIVIDE US , WHAT HAPPENED TO US !!!

  30. Clinton deregulated Wall Street, ignored Brokly Born, leading to the worst financial crisis since the great depression. Obama bailed out Wall Street costing tax payers trillions.

  31. This sounds like a form of insider trading to me….. Think about it… He has the power to influence the world market…. I'm sure if we look hard enough we will find links to Trump buying low to sell high….

  32. He's known for the bankrupt king! He could careless! That's the end of story! Y'all don't need to explain too much about this buffoon!

  33. Forget being an economic danger, Trump is a danger to ALL humans and ALL species on earth. From lack of action on climate change, to gutting the EPA and environmental protection policies, to indirectly firing all the scientists at the USDA and the economists at the ERS, to removing the endangered species act, to escalating tensions with Kim Jong Un and letting him test missiles, to letting Russia remove themselves from the nuclear disarmament agreements

  34. Who are these people that make up the electoral college? How do you get a position in this group? Because they usurped the popular vote and installed a madman!! They must be insane!! Heโ€™s taken a perfectly good country and turned it into pig poo!!

  35. Trump's Immigration policies are still hanging in the air. He really has to decide what to do with it. So much history to go back to square 1.

  36. Why hasn't Biden been in the Rust Belt with a bullhorn reminding all those white workers with red maga hats that OBAMA rescued the economy and specifically every single steel, parts, tires, auto jobs would have been lost without Obama-Biden, because Republicans were against the Auto Bailout!!!

  37. AMERICANS MUST JUST CALL A SPADE A SPADE, MR. TRUMP IS NOT QUALIFIED, ACADEMICALLY, TO LEAD AN ECONOMY, NATION OR PARTY. THE ELECTORAL COLLEGE MUST REVISE THE CRITERIA AND STANDARDS IT USES FOR SELECTING THE LEADER OF THE MOST POWERFUL AND COMPLEX GOVERNMENT IN THE WORLD.

  38. #911BUSHGLOBALCRASH FAILED = #REPUBLICANISMtoCRASHMIDDLECLASS, CUCCINELLI'S 2 CLASS RUSSIA/AMERICA, US INTO "WRETCHED CLASS" & SLAVERY, MEDIEVALISM. I SAT TO GINGRICH AS HE TOLD US THIS PLAN, THIS IS RED PLAN!

  39. Democrats must win the Senate too. Abrams get out there and please run for Senate. Bullock you are not going to get the Presidency this time so run for Senator. Please, we need you both. Trump is destroying the entire worlds economy isn't that enough to get you out there. We all need you.

  40. Trump's business associates know he is a crappy business manager and now he brings stupidity to the rest of us!! God help us all

  41. Jeffrey Epstein's autopsy confirms that the multi-millionaire has a number of broken bones in his neck. Those injuries indicate Epstein first strangled himself to death before he hang himself. Some could stand in the middle of Fifth Avenue and have someone commit suicide and not lose voters

  42. When real true news gets out to the general public of the U.S., CNN, FOX, CBS, ABC, NBC, CNBC, and MSNBC news companies will probably shutdown, or the real U.S. Army will seize all of those news companies that are owned by Obama's gang.

  43. Time to get rid of the Electoral College!!! We wouldn't be here if the 3 MILLION VOTERS who voted in Secretary of State Hillary Clinton above Trump, were ignored because of the 538 Electors. It's a system to easily influenced by Foreign Adversaries. 'We the People' did not vote in Trump and for very good reason. Even if all Americans got off their fannies and voted, Trump would have won because of the EC. Makes absolutely no sense! I guarentee Putin and friends are laughing their guts out, although they're having a 'BIT' of a radioactive problem in the Arctic Sea right now.

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