As of November 2016, Donald J Trump has been the most googled name worldwide. So it’s
safe to say we don’t have to focus too much on who that is. Ronald Reagan, however, can be seen as a blast from the past to some and a nightmare that is thankfully over to others.
Elected in 1980, He was the 40th president of the United States, representing the Republican Party, who served two tenures of 4 years each. His supply-side economic policies successfully raised the country’s GDP by 3.4% and reduced inflation by almost 9%. He ended the Cold War and also had a major hand to play in the falling of the Berlin Wall. Truly an iconic figure.
You can learn more about him here:
Well its 2016 and the Republicans have won once more. This time, however, I wouldn’t
exactly call their nominee a role model. His main policies involve the construction of a giant wall along the Mexican border which will be financed by American tax-payers, increasing the already outrageous military budget of $597b in order to finance the deployment of more troops to the East and South China seas, and labelling China a currency manipulator. On the other hand It will certainly be an almighty triumph if Donald Trump does pull off what governments across the world have been trying to achieve in their own economies for many years – buoyant economic growth and a demand-driven inflation. The sense of impending ‘Trumpenomics’ driving the US economy is providing support for equity markets, pushing the dollar higher and also causing a sell-off in US government bonds. Although none of these policies have been put into action as of yet, it is safe to say that the Republicans are undoing everything the Reagan administration accomplished with their own hands. Increasing taxes, instigating military action, and initiating conflict between the U.S. and other economic giants. Not to mention this will be the only other major attempt by any respective Head of State to prevent migration between borders with the use of an actual wall since, and you’re not gonna believe this, the Berlin Wall!
In my opinion, Donald Trump will have his name written down in the history books, but I’m just curious on which side.
I think he will put in place numerous policies in the country that will have long lasting effects on the economy long after his tenure ends. What do you think?