US economist and Nobel-prize of Economy winner Paul Krugman, center, speaks to questions from journalists after his meeting with Japanese Prime Minister Shinzo Abe, at Abe’s official residence in Tokyo, Japan, Tuesday, March 22, 2016. Krugman participated in a meeting on international financial economy with top Japanese governmental officials. (Franck Robichon/Pool Photo via AP)
Welp, that much rooted for economic collapse lasted about as long as our world war with Iran. Right now, the DOW is up almost 800 points and the market has rebounded to above 26,000 after a major correction took place due to coronavirus. This marks the second straight trading day of gains after it’s become fairly clear that the apocalypse is not upon us.
Those rooting for a recession just in time to hurt Trump in November will have to wait a little longer I suppose.
— Paul Krugman (@paulkrugman) February 28, 2020
You’ll be shocked to learn that Krugman, who’s economic prowess rivals that of a slug, isn’t tweeting today about how great it is that things are recovering.
But that’s how it always is, right? When the stock market is up, the mainstream media and their Democrat allies rush to tell us that it’s irrelevant. It doesn’t help working people they say (false), it’s not the President who should get the credit (half true), and it’s a sign of only “billionaires” winning. But the moment the stock market dips, it’s Trump’s fault, it’s the end of the economy, and the world is supposedly burning down, despite five minutes ago being told the stock market doesn’t affect normal people.
Liberals 5 minutes ago: "The stock market isn't an indicator of a good economy and Trump gets no credit for it."
Liberals now: "The stock market is down, it's all Trump's fault, and the economy is crashing."
— Bonchie (@bonchieredstate) March 1, 2020
It’s all so stupid and hypocritical.
And look, tomorrow the DOW may be down again, but so what? Short term market fluctuations based on a pandemic that promises to be gone by the summer are not a sign of a bad economy. It’s an unforeseen, uncontrollable event. Compare the current coverage to the media’s muted response to H1N1, even as Obama drug his feet for almost 6 months, and it’s just stunning.
Instead of reporting honestly on the facts of the situation, the media have been sowing panic and practically rooting for the pain to get worse because orange man bad. It’s idiotic, hypocritical, and disgusting.