'If the Democrats keep saying crazy things about the economy, Trump will win again,' says TimMullaney.
With felonies flying fast and furious at 1600 Pennsylvania Avenue this week, it may seem a curious time to write about how Democrats running for president are saying kind of crazy things.Because Andrew Yang, Bernie Sanders and Elizabeth Warren are radically misdiagnosing problems in the U.S. economy, they are off — often miles off — in prescriptions for reform.
But here’s the thing — growth has been terrible for the past decade or more. Business investment growth has been spotty, too, as companies pulled back after the dot-com crash, again during the 2008 financial crisis, and more recently in reaction to President Donald Trump’s trade clashes with China and others.
When Uber went public this year, CEO Dara Khosrowshahi dampened speculation about how fast Uber would be able to replace drivers — even though that’s key to an inflection in Uber’s profits. That’s one reason Uber is down 25% since its IPO. Tesla’s few orders for electric semi trucks are for models that use AI-like technologies to assist drivers, not replace them. And the number of truck drivers is steady to growing modestly, Labor Department data say.
The argument that capitalism’s a con leads naturally into the idea that government knows best, and vastly more economic decisions should be left to it. Pragmatism Common-sense solutions — minimalist liberalism, if you need a new term — is practical, sellable to voters and achievable in a mixed economy. Many of Warren’s ideas fit this mold, even as others don’t.
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