Trump Burns It All Down

Cocktail of 'Stupidity': Economists Warn of Global Recession

- 

A wide range of economists are voicing alarm over President Donald Trump's steep tariffs on imports into the United States, sparking a trade war that experts say could tip many countries into recession. Here are comments by some leading economists:

For Thomas Piketty, French author of the best-selling Capital in the Twenty-First Century, "Trumpism is first of all a reaction to the failure of Reaganism"—the liberalization of President Ronald Reagan in the 1980s.

"Republicans realize that economic liberalism and globalization have not benefitted the middle class as they said they would," said the left-leaning economist.

"So, now they're using the rest of the world as a scapegoat," he said. "But it's not going to work: the Trump cocktail is simply going to generate more inflation and more inequalities."