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Donald Trump Corrects George W. Bush’s
Greatest Economic Mistake

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Posted By: earlybird, 3/23/2020 11:17:51 AM

President Donald Trump did something difficult and remarkable during the White House press briefing on Sunday: he stood up for the free market in a moment of crisis, when at least half the country is pushing him to abandon it. A reporter asked the president why he was not using the Defense Production Act to nationalize industries to take control of companies and force them to produce needed health care equipment for treating coronavirus patients. Trump’s answer was that the United States does not believe in nationalization, and does not need it, either: (Snip)It is impossible to overstate the courage of this stance.


The article includes a transcript of parts of President Trump’s explanation for his reluctance to put the WPA into effect. Cogent, well-thought-out… Do read it.

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Reply 1 - Posted by: Venturer 3/23/2020 11:29:03 AM (No. 355138)
Nevertheless the Media will find a way to denigrate him for this stance.
14 people like this.

Reply 2 - Posted by: Lawsy0 3/23/2020 11:31:20 AM (No. 355141)
Lest I lose an opportunity to thank President Trump for helping save my life, I want to say so now. If there were only a way to let the President know how much I trust his judgment. This is all we can do.
33 people like this.

Reply 3 - Posted by: HotRod 3/23/2020 11:40:23 AM (No. 355168)
Well, let's see. If we nationalize the media we could have them making masks, instead of newsprint. We could have them making electrical medical devices, instead of transmitting propaganda. We could have ''journalists'' working as orderlies in hospitals, cleaning bed pans and doing hospital laundry...So many possibilities!
23 people like this.

Reply 4 - Posted by: earlybird 3/23/2020 11:58:06 AM (No. 355198)
OP comment should have said the DPA, not WPA...
0 people like this.

Reply 5 - Posted by: stablemoney 3/23/2020 12:15:15 PM (No. 355214)
Trump's greatest tweet: We will restart this economy in 15 days. We should never have shut ALL the economy down, then we would not have needed the trillions. The trillions being thrown about now will not do any less damage than Bernie or AOC's trillions, only the people receiving the money might be different. The implications from all this debt is stagnant or no growth in the future, a decade of rolling over debts, high risk and volatility. I see not a vestige of difference on AOC's trillions on the green new deal, Bernie's free health and education, and the free money now. I get the helping thing. The government is your friend and we are here to help (Ronald Reagan). Unfortunately, economies do not distinguish between debt from good intentions or debt from spendthrifts.
6 people like this.

Reply 6 - Posted by: DVC 3/23/2020 12:21:37 PM (No. 355226)
Central planning NEVER works, alway, always screws things up. Let the market work it's magic. Knock down barriers to free markets, get out of the way.
13 people like this.

Reply 7 - Posted by: MDConservative 3/23/2020 1:12:18 PM (No. 355275)
The dangerous precedent of state control of the economy has already been set when PDT first invoked the DPA of 1950, which has absolutely nothing to do with anything but supplying our military in a time of need (Korea) as our economy was sharply transiting to civilian production. This is why PDT and others suddenly shifted to using wartime rhetoric regarding this matter. Will the same crowd celebrate when President Obama2 invokes the DPA to interfere with the production of guns and ammo components in order to fight his national war on gun violence? (Remember the great ammo shortage during the Obama Administration.) That's the precedent that has now opened. Dragging out this law for this hysteria was plainly a dumb thing to do.
2 people like this.

Reply 8 - Posted by: cor-vet 3/23/2020 1:21:15 PM (No. 355298)
The President could follow the example of the Arab countries and Chavez, when they nationalized all the oil companies. He could nationalize businesses owned by unfriendly foreign governments.
3 people like this.

Reply 9 - Posted by: RedWhite&Blue2 3/23/2020 2:35:39 PM (No. 355372)
Isn’t it time to rid the country of this disease? I’m referring to the so-called “media”...
3 people like this.

Reply 10 - Posted by: watashiyo 3/23/2020 5:19:40 PM (No. 355522)
Trump's explanation was simple and understandable. However, it's too complicated for the media to process and understand capitalism.
1 person likes this.

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