Fareed Zakaria GPS – CNN 05-08-16

Salient to Investors:

Fareed Zakaria said:

Trump has formidable marketing skills but commerce is different from government. FDR, LBJ and Reagan achieved the most with virtually no commercial background. George W. Bush and Herbert Hoover, despite commercial backgrounds performed much worse as Presidents.

Robert Rubin said the single overriding objective in business is to make a profit, but government has to deal with many legitimate and often competing objectives. Rubin said not even the president has the kind of authority every CEO does.

Dan Senor said that Trump will lose in November, and that history shows that parties can bounce back.

David Frum at the Atlantic said:

An immense wreck is coming: political and cultural.

Trump has a terrible work ethic, is unfit and dangerous to be President.

Globalization’s losers have to be more fairly compensated by the winners.

Ross Douthat at The New York Times said:

Returning to a conservative normalcy is unlikely given Trump.

Nationalism is resurgent around the world for understandable reasons: dislocation, globalization, terrorism, Successful politicians, especially conservative politicians, have to address that anxiety.

Emily Miller at Washington Times said:

What happened is the people decided the Republican nominee, not Washington, not New York.

The country is unfamiliar with the depth of Trump’s policies.

Trump has the temperament to be president: thoughtful, calm, direct, listens very well.

David Order at MIT found that between 2002 and 2010, congressional districts negatively impacted by trade with China were more likely to elect more ideologically extreme representatives, either left or right of the officials they replaced – benefiting conservatives much more than liberals.

A Gallup poll found that 58% percent of Americans view foreign trade as an opportunity, 34% see it as a threat.

Yanis Varoufakis said:

Europe is in deep crisis and falling apart. The EU is heading for a break up, and new borders are being erected.

Instead of banking union, countries are re-nationalizing debt. The probability of losing your money in an Italian bank is increasing, in a German bank decreasing.

Bassem Youssef said:

The West mistakenly believes that it is better to deal with a military regime than a religious one. Military and religious factions work hand in hand.

All authoritarian regimes need to fall back on a reason for failure.

The IMF predicts:

US GDP to grow 2.4% in 2016.

Venezuelan GDP to contract 8% in 2016, and inflation to rise to 720% in 2016 and to 2,200% in 2017.

Myanmar’s GDP to 8.6% in 2016, the world’s best.

Watch the video at http://globalpublicsquare.blogs.cnn.com/category/gps-episodes/ or read the full transcript at http://transcripts.cnn.com/TRANSCRIPTS/1605/08/fzgps.01.html

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