White House trade adviser Peter Navarro on Monday provided some insight into what a President Joe Biden economy would look like should the 2020 Democratic presidential nominee get elected.
Navarro on Fox Business Network’s “Mornings with Maria” predicted a Biden economy would have “depression” and be a “bear market.” Navarro argued on the other side, President Donald Trump’s economy “has been beautiful,” adding there will be “struggles” in 2021 but “the greatest jobs president” can fix them.
“What I can say about these forecasts for 2021 … you can’t really make a forecast without policy assumptions, so I think every forecaster today has to have two forecasts, one Joe Biden’s economy the other is Donald Trump’s economy,” Navarro explained. “And if you just break everything down, I think it is pretty clear, Joe Biden’s economy is depression, bear market. Donald Trump’s economy, so far, has been beautiful. We’ve got some struggles ahead in 2021, but I think what you need is the greatest jobs president and trade negotiator in history in four more years if we are going to deal with structural problems.”
“At the end of the day … this is really a tale of two economic plans and two forecasts,” he later added. “So for me, I see depflation, OK. Depression, inflation in a Biden scenario where we’ll get into the next year and the year after that and all they’ll do is throw money at the problem They won’t understand the underlying structural issues.”
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