PAUL KRUGMAN ON ELECTION NIGHT: “If the question is when markets will recover, a first-pass answer is never.”
MarketWatch, today: Dow industrials’ dalliance with 23,000 is a sign of the stock market’s velocity: Dow has registered 48 record closes—its most all-time high finishes in a single year since 2013.
Sooner or later, of course, markets will tank, because that’s what markets do. And Krugman will probably try to claim vindication when that happens, because that’s what Krugmans do.