Trumpeconomics. The Donald was elected owing to huge support from voters who feel disenfranchised, not just angry white male industrial workers in the Mid-West but also from other sectors of the population. Despite Hilary Clinton winning the overall vote as did Al Gore in 2000, it is clear there was a substantial swing to the Republican party overall and this should not be ignored. The Democrats were also guilty of complacency and seem to have misread the risks of a Trump victory. But that is history and the question now is whether Trump will deliver to those who elected him? There is something rather odd about Trump’s victory (as there was in the Brexit referendum). There has been an unholy alliance between the right wing Republicans and the traditional Democrat voting middle aged predominantly white small town voters. This alliance has radically upset traditional electoral paradigms. The question is whether this alliance can deliver for anyone bar the rich and so far the omens are not good. The tax cuts announced by Trump predominantly benefit the rich. The related fiscal stimulus is too much driven by tax cuts and is short of specific spending proposals which might benefit the less well-off. Plans for infrastructure spending are vague on detail. Policy on trade is haphazard and seems confined to deals for specific companies. Whilst there some workers may benefit, there is no mention of the costs to workers arising from increased trade barriers. Trade is seen as a zero sum game whereby a gain for Mexico or China means a loss for the US, whereas in fact it is a positive sum game which benefits all parties. All the circumstantial evidence is that Trump does not nor wishes to understand the economics of trade. There is no evidence that the working class as a whole will benefit from a more restrictive trade regime. In the meantime, equity markets have responded favourably to Donald Trump’s election. Why? The most obvious answer is the reflation trade. Trump has promised a fiscal stimulus which is what Keynesians have been asking for some time. The rise in bond yields suggests that the US economy at least may escape from the zero bound. That is the good news in the short run. But looking further into the future, it is hard to be optimistic. 2017 will be driven by ‘deals’; if you are on the right side of the deal, then all to the good; if not, tough. In terms of economics, that is the route to cronyism and corruption and benefits the favoured few. In terms of politics, Trump is assuming that he will get the best deals for America. He ignores that he is up against some tough and astute opponents who will exploit his weaknesses. I also suspect that his administration will be torn apart by infighting. Donald Trump has always exaggerated how good a businessman he is; the problem now is that we will all pay the price for his less than wonderful deals and US centric view of the world