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Trump will take charge of an economy on a strongly upward trend, with third-quarter GDP growing at an impressive annual rate of 3.2 percent and unemployment at 4.6 percent in November.With so many former military officers serving in Trump's Cabinet or as advisers, even as Trump cozies up to Russian President Vladimir Putin and anchors an informal alliance of dictators and authoritarians around the world, it is likely that the U.S. will spend more money on weapons that don't work to use against enemies that don't exist.During the campaign, Trump promised to get tough on executives who outsource American jobs. The cost to the public will be especially high in an era when the government can borrow at near-zero interest rates.Unhinged budgetary policies will induce the U.S. Federal Reserve to normalize interest rates faster.Trump has argued that the Fed should raise interest rates. Higher interest rates will undercut construction jobs and increase the value of the dollar, leading to larger trade deficits and fewer manufacturing jobs – just the opposite of what Trump promised.
Trump’s deficit economy leaves a lot to worry about
Thumbs-down to Facebook’s cryptocurrency
After neoliberalism, progressive capitalism
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