President Donald Trump blasted Paul Krugman on Sunday, pointing to the record US stock market as evidence that the Nobel Prize-winning economist and New York Times columnist missed the mark when he predicted Trump’s election would devastate the global economy.
“If you listened to the flawed advice of @paulkrugman at the @nytimes, a newspaper that was going broke until I came along, you would have entirely missed the RECORD BREAKING Stock Market (and other) numbers produced since Election Day, 2016,” Trump tweeted. “Sorry, those are the FACTS…..”
Trump and Krugman have traded attacks since the economist warned of huge economic fallout after the 2016 election.
“If the question is when markets will recover, a first-pass answer is never,” Krugman wrote in the New York Times, arguing the global economy was vulnerable and the new administration would likely constrain the Federal Reserve. “We are very probably looking at a global recession, with no end in sight.”
Krugman is a longtime Trump critic
Krugman has repeatedly sounded the alarm on Trump. Last August, he argued the inverted yield curve — a proven recession indicator — was a “vote of no confidence in Donald Trump’s economic policies.”
“The tweeter in chief bungled his way into a Trump slump,” Krugman wrote in a column last October, adding that Trump only continued an economic expansion that began under President Barack Obama. A week later, he called the president “immature and incompetent,” an “enemy of the people,” and “lazy, utterly incurious and too insecure to listen to advice or ever admit a mistake.”