June 22, 2016—In under two minutes, Jacob Hornberger, president of the Future of Freedom Foundation, explains why neither Hillary Clinton nor Donald Trump know what they are talking about when it comes to the economy.
Yesterday, Hillary Clinton went on the attack against Donald Trump in a speech in Ohio based on economic issues. She says that if Trump’s elected president, America is going to be thrown into a giant recession and there might even be global panic.
What she’s saying essentially is that Trump is not going to be a good manager of the economy and she’s already told us that she’s going to put her husband Bill in charge of managing the economy is she’s elected.
She just doesn’t get it, and neither does Trump. They both believe in this paradigm, this age old paradigm of government management of the economy and that’s the problem. That’s the root of the problem, [if] government manages an economy, there’s inevitably going to be an economic crisis. We see this in Venezuela today, where the media is saying that Nicolás Maduro has mismanaged the economy. Nonsense. He managed the economy and that’s the problem.
You’ve got a mountain of debt that is besieging the American people, hanging over their heads, you’ve got out of control federal spending on both the welfare state and the warfare state, nobody wants to let go of their goal on either side. You’ve got the regulatory state. None of this can end well. It’s going to end very, very badly.
And my hunch is that what we saw in 2008 is going to be child’s play in comparison to what we’re going to see in the future and it’s all because of government managing the economy and there’s nothing that any manager of the economy is going to be doing to prevent it.
So there’s only one real solution to all of this: a different paradigm based on government being prohibited from managing the economy and leaving people free to manage their own economic affairs.
Is there any candidate who knows anything about the economy? Sound off below!