Krugman Thoroughly Embarrasses Himself (Again), Excited About Drop In the Dow

Nobel Prize-winning economist Paul Krugman speaks during a press conference at the World Capital Markets Symposium in Kuala Lumpur, Malaysia, Monday, Aug. 10, 2009. Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Krugman said Monday. (AP Photo/Lai Seng Sin)

There are few constants in life.

But historically, there are three.

Death, taxes and Paul Krugman is always on the wrong side of an issue.

People recognize that it’s a gift when someone is able to accurately assess the economy.

Likewise, it takes some special talent to be so consistently wrong.

Krugman is so deluded by his TDS it colors everything he does and quite frankly his morality.

Most people are approaching the question of the coronavirus with care, trying to be accurate and not stoke fear from something that so far in the U.S. would have a very low risk, in addition to a very low fatality risk.

The markets have been uneasy over the last three days because of concerns about global supply lines and there was a drop down to 25,000.

But to Krugman it sounded like an opportunity to celebrate.

Imagine someone like this appearing to celebrate people losing savings. And imagine how when it was going up, it was somehow due to Obama but if it drops it isn’ about global supplies, it’s about Trump to folks like Krugman.

He also wrote a article about the Trump reaction to coronavirus that was just rife with insanity and false claims. Its title, “When a pandemic meets a personality cult” tells you everything you need to know with how twisted it is.

A sample:

So, here’s the response of the Trump team and its allies to the coronavirus, at least so far: It’s actually good for America. Also, it’s a hoax perpetrated by the news media and the Democrats. Besides, it’s no big deal, and people should buy stocks. Anyway, we’ll get it all under control under the leadership of a man who doesn’t believe in science.

Of course none of that is reality. What Trump folks have complained about is Democrats seeming to politicize the virus to attack Trump. Krugman is a case in point.

Krugman also continues a false claim that Trump cut the CDC, a claim that the AP already chastised Democrats like Mike Bloomberg and Joe Biden for making in a fact check.

Almost as soon as he took office, Trump began cutting funding for the Centers for Disease Control and Prevention, leading in turn to an 80% cut in the resources the agency devotes to global disease outbreaks.

In fact, as the AP notes, funding actually increased.

People blasted Krugman’s apparent celebrating.

But remember what we said about Krugman? Always on the wrong side of the issue.

As the day closed, the Dow started coming back up 400 points from the 25,000 point. And as with other similar global virus concerns the variations work their way out and the market recovers. It’s not the same as a hardened recession. There was probably a little market correction in there as well. The market is still up from what it was under Obama where his last number was 19,827 and Trump took it close to 30,000 at 29,551 on Feb. 12.

Because Krugman predicts disaster, be assured of recovery.