Obama Econ. Advisor: President Donald Trump Is Danger To World Economy | The Last Word | MSNBC

Obama Econ. Advisor: President Donald Trump Is Danger To World Economy | The Last Word | MSNBC


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.

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

  1. 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.

  2. 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

  3. 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

  4. 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.

  5. 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.

  6. let's see trumps great accomplishments in just 2 3/4 years. has white nationalist routinely slaughtering innocent Americans. ran the economy into the ground. made a complete mess of immigration .taxing the poor and middle class into oblivion. has alienated every single ally USA has ever had. broke the campaign promise "mexico will pay for a wall" and Americans are stuck with a multi billion dollar bill for it. oh and there's more, every day i hear he's after our social security and medicaid us older people should not get the benefits we spent our working lives paying for. but I digress, as I think I made my point.

  7. THE ONLY DANGET TO THE WORLD IS YOUR 24/7 FAKE LYING NEWS,AND U PUSHING HATE RASCISM AND VIOLENCE IN AMERICA JUST ASK MAXINE WATERS ERIC HOLDER CROOKED HILARY AND MORNING JOE AND ANTIFA TERRORIST THUGS THAT U APPROVE OF,YOUR PROJECTING AGAIN ONTO TRUMP WHAT U AND THE DEMOCRATS REALLY ARE A MAJOR DANGER TO THE WHOLE WORLD AND THE WHOLE WORLD KNOWS IT AND SEES RIGHT THRU YOUR LIES.INDICTMENTS COMING SOON

  8. I guess president " big dummy" forgot the world was all tied together and America has rely on others to maintain it's so call greatness!

  9. Trump, and the idiots that he made his Cabinet out of, did not impose the tariffs on China, Mexico, etc because of any trade policy goal. They needed another source of revenue to offset the huge loss that his tax cuts to the rich to the government budget.
    Cutting down on other government functions, like disaster relief (see Puerto Rico) and Medicare, was not enough. They figured out that they could replace those lost income taxes by tariffs.
    Maybe Trump and his monkeys genuinely believed that the tariffs would be paid by the other countries. They must have learned eventually that it is the American consumers, especially the poorest ones who must buy cheap imports, who will pay them. But that did not bother those criminals in the least. Maybe they will change their minds now that they can see what the tariffs do to US companies, and to the stock market — and therefore to those same rich which he was supposed to be stealing for.

  10. Is Trump serious thinking that destroying the economy from other countries will bring manufacturing and jobs back to the US and gives you as the only one an booming economy.
    If consumers in other countries cannot spend because they are in an depression then the US is not making money.
    The only thing he does is destroying the economy and industry.
    The last crisis thanks to effected the whole world.
    Trump has the logic and ability to think things through from an 4 year old. His administration is not much better.

  11. Obama? The worst economy inherited, mass unemployment, people losing homes, huge amount of people on gov assistance. What a bunch of losers!

  12. When will America recognize that Trump is nothing but a spoiled brat, a moron, who resorts to any means necessary to uphold his lavish lifestyle without having any abilities whatsoever. Racism is the downfall of the US.

  13. I'm no expert on the economy but when this combination of arrogance and ignorance is elected to president of the US isn't it obvious that economic stability might be at risk?

  14. I liked his 'George' Freudian slip. Take any Republican instead of Trump. All do NOT know economy. Any Republican has wrecked the economy in the past and without Dems the US would have long gone down the drain. Trump is just the crown of their total mismanagement of capitalism. Republicans give capitalism a bad taste because they do not know how it works. The economy is NOT a business. Government is NOT a business. If the top .1% are allowed to become self-serving capitalism deteriorates into an aristocracy with a POOR economy. Anyone who views government as just another business betrays his lack of knowledge of capitalism OR doesn't want capitalism and wants aristocracy instead. I suspect Republicans to want the latter.

  15. 2020? Citizens are not going to vote based on what he PROMISES to do, they're going to voted based on what he has already done. The Democrats could nominate Casper the Friendly Ghost and he would win.

  16. The real problem is that U.S. voters have no memory. The GOP bankrupted the U.S. in 2007/08, and by 2010, the voters had already forgotten and gave Congress back to the GOP. The same could happen this time: a crash in 2020 that gets worse for quite some time, and dumb voters punishing the DEMs in 2022 for the mess the GOP made.

  17. Don't forget our farmers. This is a big bank disaster, if they loose their farms. If they can't sell their crops, which they invested in, big time, they loose it all, and can't pay bank loans. Canada, I wish we could! He's terrible for the whole world!!

  18. Technically we are still in Obama's economic cycle when we hit these down turns the up swings is the results of a Trump economy.

  19. TRUMP IS MENTALLY ILL. HE CANNOT LEAD OUR COUNTRY. GERMANY IS INTERCONNECTED ECONOMICALLY TO US ECONOMY. TRUMP IS TAKING ORDERS FROM PUTIN. IF THE US IS TOO WEAK ECONOMICALLY, THEN RUSSIA CAN DO US A LOT OF HARM. GOOD MARKETING TAKES A GOOD STRATEGIST, AND TRUMP DUMPED HIS DADDY'S MONEY, NOW HE IS TAKING AMERICA'S.

  20. Over twelve thousand public, video preserved lies. Don't believe a word trump says or any numbers from his government. Step back and listen to the world speaking.

  21. Trade wars are easy to win? Really.
    Just open ot of date coal mines….lol. Trump lives in the 70s.
    Did you not know that Trump said that China pays for the tariffs? And this guy is president of the US. My dog would do better. Dont worry..Trump will start a war with Iran (and pulling in the Uk as well) just to deflect from his incompetence.

  22. He bankrupted 6 times in his business and Americans thought he could maintain Obama’s economic success ? He will bankrupt the country !
    Americans wake up .

  23. ………and just like that no more Russian Collusion talk. Next up on the "To Do List" : Let's try to tank the economy. That will get rid of him. MSNBC you are clowns.

  24. A global dysfunctional family of orphaned nations used to have in the U.S. at least the guise of a wise Parent Figure. Without this comes increasing bouts of sibling rivalry, reminding us how fragile the lifeline of Life On Earth is. From Climate Change to an overheated emotional climate, Fear + Rage are in the air, leaving us to our druthers. Votes are the new guns. Use them with care: SIMPOL.org

  25. FYI “Description Kleptocracy is a government with corrupt leaders that use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and political powers. Typically, this system involves embezzlement of funds at the expense of the wider population. Wikipedia”

  26. A pickled pseudo presidency…
    Please get him out of the driver's seat! He's already dinged & dented us. Please, before he WRECKS us completely! 🖓😡

  27. Obama's economic advisor? The Obama administration was a complete failure in all aspects of successfully running our country, his foreign policy was a joke and an embarrassment, his domestic policy a total disgrace, anti-law enforcement, racist, he promoted violence against the police, gave Iran a gift billions of dollars in cash ship on planes in the middle of the night, our worse enemy. He was definitely the only American President that was openly anti American.

  28. Klain was wrong, he's correct in that the 1% absolutely think the Trump policies are good but ReTRUMPlicans do too, the cognitive dissonance is so overwhelming that they will not see they are being screwed over by Trump.

  29. Don't worry America
    …if you get hungry…go eat Hillary's emails since they were so important that you voted for trump.

  30. Lol This talk host is funny “ we will not be showing trumps propaganda video! on this show! “ . We will not be showing this! , or talking about that ! He’s stuck in 90’s and thinks this, is the only show out there lol .Meanwhile stocks are improving lol.

  31. Is there any law in the US that not only allows the removal of a president but to have an election to remove the government ?
    In Australia we have the governor General who is picked by the government , but if the people push the opposition they can go to the Governor and ask that he call an Election .
    It has been done in the past , it was not popular at the time but the government was voted out at the election that was called.
    Trump and the republicans are a danger to the world economy not just the US , if the US sinks we all go down with you just like the GFC.

  32. PUT A CLOWN IN CHARGE OF A NATION AND THE NATION WILL SINK. TRUMP IS JUST A BUFFOON SENDING AMERICA DOWN THE TUBES.

  33. lol, I just want to know where is his base now? not to many trump trolls on this feed… can you hear the crickets in the fields? Chirp Chirp!! lmbo!!

  34. It’s almost as though Trump is an imbecile who doesn’t know much about anything, including business, and can’t find anyone willing to work for him who does. Weird.

  35. I wish that Bezos, Gates, Buffet, and Musk would gather some change from their sofa cushions, buy Twitter, and kick the imbecile off the platform.

  36. Trump will ruin the American economy and simply be allowed to walk away from his self made mess, he’s then going to blame everyone else and act as if he’s innocent.

  37. https://badgerherald.com/news/2019/02/26/economic-hardships-lead-to-skyrocketing-suicide-rates-among-wisconsin-farmers/

  38. Have no fear America, a very stable genius is at the helm, able to navigate a route to financial safety with only the stars as guidance and an old pair of binoculars. Sit back, relax, and enjoy the ride…

  39. OPINION:

    EVERY PRESIDENT WILL ALWAYS SAY HE WILL TRY TO IMPROVE THE PREVIOUS ADMINISTRATION.
    THAT'S A HABIT.
    THAT'S NOT A BOAST.

  40. Hey Trump, you sure have China by the balls on that tough negotiation you got going, nice job. I hear them laughing in Chinese.. Trump has always been a billion dollar loser and now he has turned the US into a Trillion dollar loser. Not even your dumb gullible voters will buy your crap…

  41. One sure fire way to lessen the effects of the coming recession, legalize marijuana nationwide. Let the entire nation participate in the success of legal states. Bonus, it'll eat a lot of carbon dioxide. Just saying.

  42. President Trump and those of us that support him are working hard to prevent Socialism and the Left from ever getting power. If this ever happened America would look like Venezuela in less then a year. Is there any wonder that your ratings are dropping like a stone. President Trump is doing the right thing. He is making the American Economy the strongest in the world. If we have to take down a few other Countries so be it. The Stock market effects every American. The economic issues in Germany have little to do with America and everything to go with the EU. Let them drop into economic free fall then maybe others will follow the UK out the door of the EU. Just like a left Putting America LAST.,

  43. correction Former presidents receive a pension equal to the pay that the head of an executive department (Executive Level I) would be paid; as of 2017, it is $207,800 per year. The pension begins immediately after a president's departure from office.

  44. At 6:26 – "If he (President) simply did nothing the entire US and Global Economy would be in stronger shape than it is now."
    Exactly like how he'd be an actual billionaire if he'd put the money his father gave him into a savings account and left it alone. His business acumen is his greatest lie. Why would anyone be surprised that he is jeopardizing our economy?

  45. Trump doesn’t have money. A wealthy man wouldn’t accept dirty money from hostile foreign powers. Trump is broke and desperate and that is why he doesn’t care about the Stockmarket crashing.

  46. Trump's narcissistic personality disallows him from accepting any responsibility whatsoever for making inept economic decisions based upon an extremely limited grasp of world economics. Couple this with his inability to take any advice and his economic advisers also being woefully inadequate is an equation that would only ever lead to economic disaster.
    He has only himself to blame yet unfortunately blame is something he only directs at others and will never , never in a million years, ever accept as his doing due to his failings that clearly fall at his doorstep.

  47. I am puzzled. Isn't "individual no. 1" the one that has gone bankrupt many, many times in his past including the dubious honor to losing more money than any other person in the country. And now, we want to give him credit for running our economy…. with out going bankrupt???

  48. I'd like to know where are the funds that would be used to pay for all those still opened positions in the white house? Is mnuchin and his blow up doll on extravagant trips again?

Leave a Reply

Your email address will not be published. Required fields are marked *