Courtesy of Mish.
Paul Prugman, a die-hard Keynesian who recently proposed faking an invasion of space aliens to stimulate the economy, is now all of a sudden concerned about the quality of economic spending.
The Long Haul
On November 11, Paul Krugman, suddenly started worrying about the The Long Haul of deficit spending.
“It’s at least possible that bigger budget deficits will, if anything, strengthen the economy briefly. America has a vast stock of reputational capital, built up over generations; even Trump will take some time to squander it,” said Krugman.
Never!
Backing up to his previous post, What Happened on Election Day, Krugman offers this wealth of information on the stock market:
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.
Futures Faster Than Krugman’s Brain
Krugman took that back right away, but obviously not before posting the above article.
