Another Krugman fail…
Economist Paul Krugman, never reluctant to remind us that he won a Nobel Prize in Economic Sciences, wrote shortly after midnight that Trump appeared likely to win, which would of course, collapse the world’s financial markets, lead to global ruination, and from which the markets would never recover.
The Dow opened a tiny little 15 points down and within minutes began a climb to up by 251 points, pulling other indices along with it. I’ve never thought much of Krugman as an economic expert, because he is an elitist snob who has never grasped that markets are made up of people, and that when governments keep their sticky thumbs off the scales, markets are quite efficient, which is precisely why big-government advocates hate free market principles.
Krugman had to sort of take back his prophecy of economic doom after he woke up, but I look forward to many more examples of stupidity from Krugman over the next four years.