Thursday, February 2, 2017

Travel Ban Sends A Message That Will Make The Next Economic Downturn Worse

Many of the creators of tomorrow's jobs are speaking out either because the fear of reprisal is waning or they don't care. Fear that drives humans to separate rather than cooperate means a harsher economic contraction when the next downturn within a down cycle hits. Trump, an political outsider that likely looks at the business different than career politicians, will be, likely all of his predecessors, powerless to stop it. The invisible hand, the collective intentions of capitalism, will run for cover when liquidity dries up.

Headline: Trump's travel ban sends 'worst message possible' about U.S., PayPal co-founder says

Border security is essential, but a new policy from the Trump administration sends the "absolutely worst message possible" about America's stance on the refugee crisis in Syria, said Max Levchin, PayPal co-founder and founder of consumer credit start-up Affirm.

"There's a way to do it right. ... The message that we're sending with this policy is that the land of opportunity is closing its door, to those that either need its help, or want to come here and contribute to our greatness, our growth," Levchin told CNBC's "Squawk on the Street" on Tuesday. "This is just the most blunt tool imaginable."



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