MEGAN MCARDLE: Paul Krugman Hardest Hit:
Late in election season, as pundits tried to feign uncertainty about the inevitable Clinton coronation, a few folks considered what might happen to the financial markets if Donald Trump were elected. The answer a lot of them came up with was pretty dire: a big crash. Against all predictions, Trump was elected. And then, right on schedule … the stock market indices soared to new records?
Umm, what?
That’s the question that a lot of folks in the punditocracy are asking: Why do markets seem so happy about Trump?
Pundits who are asking that haven’t paid attention to the last 8 years.