Can Presidents 'Make or Break' an Economy?

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The United States 2020 Presidential election has been called by pretty much every organization that covers the event in any capacity and while the final decision is not made until the special club that is the electoral college has presented its final decision, it’s apparent that Joe Biden will be the next president of the united states.

This is the first time in almost 3 decades that an incumbent president has been voted out before serving a second term and it has come in the midst of national and global catastrophes galore.

To add fuel to a fire that threatens to ignite the global economy, the outgoing president has been vehemently challenging the results which is casting doubt over the smoothness of the transition, the continuation of much-needed government support, and the foundation of the nation’s systems in their entirety.

And this all begs the question, either unwittingly or maliciously, how much damage could a president do to the American economy, and by extension the global economy.

There are checks and balances in place to control the influence of any one man in the united states around things that were relevant when those checks and balances were been written. But it must be remembered economies back then depended a lot more on successful harvests, and a lot less on tweets.

Our modern economies are incredibly complex and incredibly fine-tuned, but complex fine-tuned things tend to be very easy to break, and the outcomes of throwing a proverbial spanner into the works could be just as devastating.

Thousands of people die when unemployment rises, and many more could lose access to healthcare, housing, and livelihoods during even a minor period of economic turbulence.

All of this is to say that a president waging war on an economy could be just as dangerous as waging war on a nation.

So, what kind of influence does a president directly have over an economy?

Do they deserve the credit for things going well?

And what could a president do to tank the economy if they really wanted to?

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[EconomicsExplained]

In this video, I continue my quest to make everybody from both sides of politics angry at me. (Thanks for all the likes on the last video guys, I think I needed them!)

[kronos]

EE: ...reducing funding for education and making tertiary studies prohibitively expensive
USA: jokes on you, we already did that!

[alexpotts]

0:31 "The outgoing president has been vehemently challenging the result, casting doubt on a smooth transition of power."

Say what you like about North Korea, but the transition of power from Kim to Kim was exceptionally smooth...

[parazitul]

Me: Finally a guide about how to destroy an economy
Me, 15 minutes later: Wait, these are the policies of my own government.

[Robert.Stole.the.Television]

When I was a kid I never thought I'd be watching videos on economics not only voluntarily, but also FOR FUN. Our 20s really change us more than we can imagine.

[fleskhjertafan]

That ending sounded more like a warning than a hypothetical

[DeathEater]

If he has you as an economic advisor, he certainly can.

[biker_marinator]

I watch every single video you publish. Vey informative and easy to understand for non english speaking nations. BR from Sweden

[bonelesswatermelon]

I may not be able to influence the economy significantly but I can influence the algorithmic gods with this comment

Brilliant take as always EE!

[FinnUnv]

Last time I was this early was last video. Also, love the video.

[lightxgrenade]

0:49 "How much damage could a President do to the American economy?"
*Andrew Jackson has entered the chat*

[mesmith]

Pretty sure there’s an old saying that goes like:
“The captain always takes the crew down with the ship...” or something like that.... 🤷‍♂️

[pandamathium]

"It's always tax shenanigans" - Economics Explained 2020

[divyanshchaudhary]

EE:- Can Presidents make or break a Market
Hugo Chavez:- Allow me to introduce myself
Nicolas Maduro:- But you are a bird now

[jeremyquentin]

14:08 "Reducing funding for the education, making tertiary studies prohibitively expensive, reduce skilled labor migration"
I think the US has already got ahead on that part though.

[diarmuidfaherty]

Loving those tax shenanigans here in Ireland 🇮🇪🇮🇪🇮🇪

[WineZ]

"I hope you have a short call on SPY"

Lol. That last message is 1 message to remember.

[brandonnadel]

Last time I was this early, I couldn’t think of a joke.

[xgdwgmf]

Currency, Industry, Skilled population: or CIS for short

[арефнар]

"There are no words scarier than *I'm from the government and i'm here to help* "
_ Ronald Reagan