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Paula Dwyer

Trumponomics: Speak Loudly and Carry a Yuge Stick

Faith in markets? No. Independent Fed? Hardly. Sanctity of debt contracts? Ha.


Photographer: Brendan Smialowski/Getty Images

When it comes to policy ideas, Donald Trump is hard to pin down. Now, though, the outline of a Trump economic theory has started to emerge. It isn’t pretty.

He doesn't place much faith in markets. He doesn't want an independent central bank. His views on currencies and sovereign debt rest on the principle that everything is negotiable, even contracts between creditors and borrowers. His main weapon wouldn't be the rule of law but bullying, especially of corporations that move outside the U.S. for competitive reasons.