We’re going to be seeing a lot of this over the next four years:
It’s finally happening – Fiat Chrysler just announced plans to invest $1BILLION in Michigan and Ohio plants, adding 2000 jobs. This after…
— Donald J. Trump (@realDonaldTrump) January 9, 2017
How do I know? Because Trump sounds like Dr. Evil here. ONE! BILLION! DOLLARS! For comparison, here is total foreign direct investment since the start of the century:
Every year, there are hundreds of investments of a billion dollars by foreign companies in the US. The Fiat Chrysler announcement is entirely routine.
Still, that’s hundreds of opportunities every year for Trump to blather about how he’s making America great again. Just keep in mind that it’s all nonsense. I figure trend FDI should reach about $3.9 trillion in 2017. Wake me up if Trump manages to get it significantly higher than that, but please don’t insult me by trumpeting every piddling contribution along the way as if he were raining pixie dust over the entire economy.
UPDATE: The original headline and text way overstated the flow of new FDI each year. Sorry. It’s fixed now.