Paul Krugman: The Economic Fallout of Trump’s Election, by Paul Krugman, on election night.
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
U.S. equities closed higher on Tuesday, hitting new all-time highs, as investors digested housing data and kept an eye on President-elect Donald Trump’s policy agenda.
The Dow Jones industrial average rose about 70 points, closing above 19,000 for the first time ever …
The S&P 500 closed over 2,200 for the first time … The Nasdaq composite also closed at all-time highs …
Krugman is the goto guy for economic commentary at the New York Times, very reliably progressive regardless of facts. He is a strong believer in the carbon dioxide theory of global warming, for instance.