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1.Market Observations, 8.Was Sticky

13 May 2017 (AFR) – Donald Trump flunks ‘pump priming’ economics test with The Economist

(13 May 2017, AFR, p10, by John Kehoe)

‘Donald Trump did an Oval Office interview with The Economist to outline his “Trumponomics” agenda and the US President’s incoherent and bizarre responses quickly captured the attention of economists. The billionaire real estate mogul claimed to have invented the expression “priming the pump”, when in fact the fiscal stimulus term has existed since the 1930s. He alleged the US was the “highest taxed” country in the world when it has one of the lowest tax burdens – ranked 170th out of 219 nations, according to US government statistics.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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