Trump Taps Into Economic Anxiety Resulting From 'Free Trade'
Many people don't "get" Donald Trump's appeal, ascribing it to his racist, xenophobic talk. But there is another factor, a very strong one, and we had best pay attention.
Trump is tapping into an economic anxiety felt by many, many Americans. Our trade policies are at the root of this anxiety, and Trump knows it and says it, and people nod their heads.
Widespread Economic Anxiety
Many Americans are anxious because for most people the economy has gotten worse, not better. Headlines like "Most Americans don't have enough money to cover a $500 emergency" tell the story.
In a national survey by Bankrate.com, 63 percent of people said they don’t have the savings to cover a $500 car repair. Only four in 10 Americans would be able to rely on savings to cover anything beyond their usual bills.
That suggests most people live paycheck to paycheck. The survey found just 23 percent thought they could handle an emergency bill by cutting spending.
Another 15 percent said they would cope by borrowing from family. And 15 percent would use a credit card.
... Yet, even with incomes over $75,000, 46 percent said they couldn’t pay a $500 car repair. About 52 percent of people with college degrees said they wouldn’t have $500 for the car emergency.