Posted on 08/27/2019 9:47:59 AM PDT by SeekAndFind
From the very moment that Donald Trump won the 2016 election, the media has been chattering incessantly about a major recession that is supposedly just around the corner. As the country awoke to the news of his victory as president, the stock market rocketed upwards, yet liberal economist Paul Krugman inexplicably prophesied in the New York Times that we were probably facing a “global recession” with no end in sight. Less than a week later, he wrote about an impending “Trump slump.”
Krugman was not alone. Matt Krantz of USA Today thought a recession was on the way because Trump is a Republican president, and that was before Trump even took office. After his inauguration, despite strong growth and impressive job creation, the media continued its pessimistic tune. Quin Hillyer was certain last year that recession was on the horizon because of the strategic tariffs of the administration. “Get ready for rough times,” he wrote, predicting the crash would come by fall and advising people to “buy gold, hoard cash, and stock up on good canned foods.”
Even when the end of the year came and still no recession had arrived, economist Evan Kraft absurdly accused Trump of readying a “scapegoat” for his eventual failure. During this whole time period, economic growth across the nation has been strong. Unemployment is at historic lows, and wages are growing at the fastest rate in over a decade. By virtually any conceivable measure of progress in the economy and labor market, the Trump presidency has been a resounding success from the beginning.
But here we are again. It has been the inverted yield curve on Treasury bonds that has journalists absolutely convinced that we are soon headed off the economic cliff. The poorly concealed glee that the press corps is expressing
(Excerpt) Read more at thehill.com ...
Why, those Bozos have predicted 25 of the last 10 recessions!
Taxes have been slashed, regulation has been cut and energy is plentiful and cheap.
These people are not “woke”, they are “wrong”. There is a difference.
It's like the Indian rain dances. They simply kept the dance going until it rained, which it was certain to do sooner or later. Then they'd look at the skeptics and say, "See?"
Paul Krugman. Paul Krugman?
Did he play in the “Odd Couple”?
If Krugman wasn’t so humble, he’d do better in life..
That’s nothing. I remember Sam Donaldson trying to push the recession line the whole eight years of Reagan’s presidency.
The fact is there will always be a recession - sooner or later.
It is the natural nature of the business cycle that if it is running at its best and not with governments trying to stage manage non-cyclical business markets - which is like having permanent slow growth as with the Soviets - that sooner or later the exuberance of the markets will be grasping at values that will exceed actual growth possibilities, and only a retraction will bring markets down to values more sustainable over the long run.
The problem with the Krugman’s of the world is their “economic” projections have always been 90% or more political and 10% or less economic.
The problem the sheeple have with the Krugman’s of the world is that the Krugman’s of the world have the media behind them, and after being repeatedly wrong year after year, the media will vindicate them when the naturally occurring business cycle catches up with Krugman’s erroneous prognostications of many years earlier.
When was the last time Krugman was right?
Well, he won a Nobel Prize in economics didn’t he?
For Paul Krugman economic jargon is just one more hateful weapon to use against Trump...
2008 for New Trade Theory and New Economic Geography.
I can’t name a prediction that he has made that came true.
Galbraith was often wrong, just not always.
Broken clock, Twice a day, Works great if you don’t have somebody recording wrong predictions.
“Trump and his team of advisers have done an admirable job of sustaining solid growth and prosperity. There is no reason this cannot continue for another five years. Apart from partisans like Krugman, economists do their best to predict recessions. Inevitably, some economists know what they are talking about and some do not. Winston Churchill supposedly once said, ‘If you put two economists in a room, you get two opinions, unless one of them is Lord Keynes, in which case you get three opinions.’”
Eternal vigilance will win the day!
Well, we ARE keeping score!
And we are way ahead of the LIEberals on most every issue!
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