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Not Just Wrong, It’s Krugman Wrong November 11, 2016

Posted by geoff in News.

A lot of folk have pointed out that those who jumped on the markets’ tanking after the election as a sign of the Trumpocalypse were premature, since markets started recovering the next morning. Prominent amongst the doomspeakers was our old chum, Paul Krugman, who famously said:

“…if the question is when markets will recover, a first-pass answer is never.”

Many people juxtaposed his gloom with shots of the DJIA, NYSE, and NASDAQ all rising the next morning. And we chuckled.

But today, it looks like the fates aren’t just satisfied with proving Krugman and his ilk wrong. They’ve apparently decided to completely humiliate them. Here’s today’s WaPo headline:

Dow jumps to record high as hope grows that Trump would lift economy


1. digitalbrownshirt - November 11, 2016

I believe Krugman was hoping he could actually cause the market to stay down by projecting long term negativism when it was pretty apparent that nobody could know how things would work out over the long term. He’s got a Noble Prize. That’s supposed to mean something. Plus he’s surrounded by people telling him that he’s a genius.

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