Posted on 06/23/2019 4:13:23 AM PDT by Kaslin
Remember the bold predictions made by the New York Times’ economist and resident expert, Paul Krugman? The Nobel Prize winning economist said that the economic fallout of a Donald Trump presidency would be severe and widespread, predicting that it could “plunge the world into recession.” He penned his view in an opinion piece published the day after the election. Calling Trump both “ignorant and irresponsible,” he said that his election would be the "mother of all adverse effects.” He warned that the new administration could quickly undo the progress that markets had made in the eight years since the financial crisis.
He was wrong.
The Trump economy continues setting records. Employment, real wages, consumer confidence, all moving ever higher. We wait in vain for a correction or apology from Krugman or the Times. They rarely find room to share the good economic news with their shrinking readership. The truth does indeed die in darkness.
Unfortunately, Dr. Krugman is not alone. There is a small, but stubborn fraternity of liberal economic experts who agree with Krugman. They work daily to find (or create) evidence that the booming economy is either a mirage or that former President Obama deserves the credit. Neither vessel holds water.
As philosopher, former colleague and song writer Sonny Bono wrote, The Beat Goes On. Here are three of the “must-read” stories highlighted last Thursday afternoon by Fortune Magazine:
• A red flag to investors: The stock market may be hitting the “triple top.”
• Many economists think the next recession will be before the 2020 election.
• The S&P 500 has performed far worse under Trump than Obama.
Notice the pattern?
The common thread: with Trump as president an economic downturn or disaster is just around the corner. The booming economy and stock market (that Obama created) must wilt before the next election. If it doesn’t, we will be stuck with another four years of Trump and his policies.
Perish the thought!
Now, that last headline is deceptive but technically accurate. Bear in mind that Obama started from a much lower base. The bottom had fallen out of the stock market. In simple math, a 40 percent return on the Dow at 10,000 is less than a 30 percent return on the Dow at 15,000. Trump came to office eight years into to the Obama “recovery," a recovery where the experts told us that we would never again see 3 percent growth. That 1-2 percent was the “new normal.” We were told that all those manufacturing jobs that went off shore were gone and they weren’t coming back. President Obama mocked candidate Trump for promising to bring some of those jobs back. He asked, “what’s he gonna do, wave a magic wand?”
Remember?
This president continues to prove the establishment experts wrong. He has a secret army of folks who really know how to create economic growth…the American people. Trump knows that they can spend and invest far smarter than the federal government can on their behalf. It’s actually a pretty simple formula: let them keep more of their money and get out of their way. Trump may not have a Phi Beta Kappa key, but he understands this.
It works every time it’s tried.
Witness the recent meltdown of the Wall Street experts and Chamber types over long-simmering trade disputes. Against the best judgement of the experts, Trump demanded a renegotiated NAFTA. He succeeded. They went apoplectic when he began to impose hefty tariffs on the Chinese to get them to play by generally accepted trade rules. President Xi can huff and puff, but he can’t bluff. Trump has the stronger hand. The same experts went into even higher orbit when President Trump threatened Mexico with stiff tariffs unless they became more helpful in solving the immigration emergency on our border. Surprise! They are now becoming part of the solution.
On issue after issue, the establishment experts have been wrong. They can fool some of the people all of the time. But, they can’t fool enough people to change the outcome of the next election. Normal Americans clearly see that this President is a whole lot smarter than many of the so-called experts.
An X is a has been, a spurt is a drip under pressure.
Ahhhh .... could the elites be angry because obama / hitlery didn’t build it ???
To be fair, the squirrel in the tree in my backyard is smarter than the “expert” Paul Krugman.
It is like Obamacare. 10 million were people lost their insurance. 6 million of those went on Obamacare. Therefore a 600% increase in Obamacare enrollment.
The term the “experts” often use to describe today’s healthy economy is “sugar high.”
Paul Krugmans high is socialism. Gawd I detest him so! And his face is very punchable
I heard a good line from Dan Bongino: "Krugman has predicted 44 of the last 3 recessions."
That's because the squirrel in the tree in your backyard didn't go to an Ivy League university and get educated beyond common sense. The squirrel in the tree in your backyard also didn't get "networked" with the Ivy League elite, which is why the squirrel is not constantly front and center media-wise while being wrong about everything economic.
Things worked out well, as the squirrel is not beclowning himself almost daily in the NYT or on CNN... and you wouldn't want Paul Krugman running around your neighborhood, building leafy nests on high branches and stealing seed out of bird feeders. The jury is still out on whether it would be worth a potential electrical outage just to watch Paul Krugman try to negotiate his way over/around the transformer on the utility pole.
Krugman got his Nobel Prize the same way Obama was gifted his.
A slug is smarter than Paul Krugman. Let's face it, the bar isn't very high on that one!
Iran shot down an unmanned drone.
All Trump advisors unanimously recommended an attack on Iran.
Iran knew that an attack was just a few days away and reacted militarily accordingly.
Trump announced at the last minute that he cancelled the attack because it was just an unmanned drone.
Meanwhile, and often overlooked. The US penetrated and wiped out the cybersecurity defenses of the Iranians. Or so it is rumored.
Were the Iranians preparing for the wrong type of attack?
Did the Trump team just succeed in outsmarting the enemy?
From the article in reference to Paul Krugman and his predictions of a Trump economic catastrophe:
“He was wrong”.
No kidding Dick Tracy. This is hardly shocking.
Paul Krugman knows a lot about economics that is mostly wrong. As a result his predictions are only useful in a negative way. If Krugman predicts the market will fall you should quickly buy heavily. If he thinks it will rise sell it all immediately.
“Trump may not have a Phi Beta Kappa key, but he understands this.”
Oh, and on top of that, he only sleeps about 4 hours a day. That means that he is literally thinking of ways to outsmart his opponents while they are sleeping.
But that is okay, let everybody continue to underestimate this man.
“Did the Trump team just succeed in outsmarting the enemy?”
The answer to which is,”Yes, of course he did. Why should this time be different than any of the other 10,000 times that he outsmarted his enemies?”
p
bttt
I cannot see how since those two had no intention of building such an economic boom; all that they did was to enrich themselves and those that played along with them {e.g. Solyndra}. Their plan was always to plunder the middle class and enslave them.
The common thread: with Trump as president an economic downturn or disaster is just around the corner ...
Of course there will eventually be a slowing down. Such growth in two years cannot be sustained indefinitely. I do wonder if Krugman and his league of extraneous Ivy League economists aren't figuring a way - with the help of +billionaires like S0r0s - to slow the market down before the election. They do not need much of a set back because their corrupt media will paint such as the Second Great Depression... as they have done before with Republican presidents.
As to 'Trade' issues: they had to know better. We hold at least a 5 to 1 advantage over China. What they have done is talk China in to pulling out of a deal hoping DJT will be defeated in 2020 --- treason of course --- if anyone would charge these Krugmanites!
The same dynamic holds with Mexico, as we just saw as they responded to threats of sanctions; it remains to be seen if Mexico will prove reliable over time - they are NOT a friend of ours. American companies operating in a narco state is another matter that has not yet surfaced.
Yep Bob obama / hitlery built the chains to enslave America and Americans. The democrats and the media hate President Trump helped America and Americans break those chains
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