Wednesday, November 9, 2016

The End Of The World

As some people would like to know it. Last night various columnists from the New York Times, including renowned economist* Paul Krugman were staring the end of Western civilization as they understood it, wailing, rending garments, and no doubt considering becoming refugees to whatever country would take them. Here's Krugman:

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.
Last night market futures in the DJ Industrials was down some 900-1000 points so maybe they were right to be nervous. Still, today:
Dow 30
256.95 (1.40%)
A modest uptick overall. Pretty good recovery for 18 hours, no?

*Krugman won a Nobel in economics. He also was an advisor to Enron and helped make it the company it is today. Extinct.

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