God, Protect America From the Economic Ignorance of the Republicans!

The debate of the Gross Obstructive Party has shown an appalling view of the Republican candidates' ignorance of basic economics. Let me quote some of them:

  • The Trans Pacific Trade Agreement is to the advantage of China: China is not part of it.
  • Don't arm ISIS: we actually don't
  • We are losing jobs by the thousands: the job creation last month was 271,000 and 26 months of increase
  • We need to deport 11 million immigrants and build a wall: the U.S. does not have the money, the forces and the ability to deport 11 million people
  • We will reduce our debt and reduce taxes: it is an arithmetic contradiction
  • Obamacare is bankrupting companies: there is not one single company that got bankrupt because of Obamacare
  • The Iran deal is the worst ever signed: companies support it
  • Banks have higher concentration of risks: the Dodd Frank has actually reduced the risk
  • Regulation needs to be repelled: back to 2008?
  • We should have a policy not to allow banks to expand: the Republicans do not want an antitrust regulation
  • Companies cannot get loans: they are not in need of loans because of the low growth
  • The Federal Reserve crashed asset prices: they supported assets and bailed banks out by an amount of 4 trillion

It is symptomatic that the debate cannot build a consensus between Republicans on any of those issues. On the key economic issues I have not found any agreement on tax rates, immigration, indebtedness, regulation, job creation, international trade, the Federal Reserve or the IRS.

It was a competition for outrageous statements. But more worryingly, it was the worse collection of incompetent statements.

God protects us from such appalling bunch of candidates.