“The Stock Market Will Tank If Trump Gets Elected.” That’s what all the experts on the left told us repeatedly in the run-up to the 2016 Presidential election. So, how’s that prediction working for them? Hmmm…. let’s see. Yesterday the Dow Jones finished past 25 thousand for the first time ever.
But let us not forgot those ever-loving doomsday preppers. Indeed, there are many. But the prize for blazing the trail to financial Armageddon must go to that inimitable Economic soothsayer Paul Krugman of the New York Times. Liberty Nation’s Tim Donner recently chronicled:
Yes, Paul Krugman, we’re looking at you. That insufferable, Trump-addled blowhard who writes opinion pieces for The New York Times once actually won the Nobel Memorial Prize in Economic Sciences, which can only mean the Nobel standards were reduced to a point so low that they became unrecognizable.
Let us consider the dystopian predictions of Mr. Krugman the day after Donald Trump was elected President. Here are the highlights of his screed on November 9, 2016
“We are very possibly looking at a global recession with no end in sight…markets are plunging. If the question is when markets will recover, the first-pass answer is never…this is the mother of all adverse effects on the still-fragile U.S. economy…What (the election) brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work.”
Krugman was Not Out on a Limb Alone
Lest we sound too harsh by allowing Mr. Krugman’s own words to convict him, we would do well to remember – he was not alone. In another brilliant retrospective, Daniel J. Flynn of The American Spectator captured the essence of the oh-so-many financial fearmongers. As these economic wonders looked into their crystal balls, they saw the following:
“If Donald Trump wins the election,” Heather Long informed at CNN Money less than two weeks prior to the 2016 vote, “U.S. stocks (and likely many other markets overseas) will almost certainly tank.”
“Wall Street’s long-running view that Hillary Clinton would easily become the next president has been replaced by a new fear that Donald Trump could win,” Patti Domm explained two days before the election at CNBC, “and it probably won’t be a pretty picture for stocks if he does.”
I wonder how much money Ms. Domm has made since the election of Donald Trump? With predictions like that, she should hold onto it because her business career should be coming to an end soon. Well, there’s always hope – and there should be an opening for her to ply her trade with Jean Dixon.
Yup. The media and the economists had it all figured out. If Trump won, the market would tank, the lights would go out in Georgia, bread lines would begin to queue up in the cities and towns – in every market and square from sea to shining sea.
One is left to wonder if these people think we have forgotten their legendary ineptitude. Rest assured we have not.