August 2, 2017

PAUL KRUGMAN ON ELECTION NIGHT: “If the question is when markets will recover, a first-pass answer is never.”

CNBC, just now: “The Dow Jones industrial average notched another milestone on Wednesday, breaking above 22,000 for the first time.”

Yes, stocks will take a dive someday, because sooner or later they always do. But Krugman’s claim was that Trump’s election was so uniquely awful that they might “never” recover. Like most of Krugman’s claims, that was bullshit.