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This is part of what Krugman said in Nov 16
Posted on: December 31, 2019 at 16:17:32 CT
Reagan STL
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"If the question is when markets will recover, a first-pass answer is never. Under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis."
..."Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work. Effective fiscal support for the Fed? Not a chance. In fact, you can bet that the Fed will lose its independence, and be bullied by cranks."
(The S+P is up close to 50% since Trump's election.)
..."Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work. Effective fiscal support for the Fed? Not a chance. In fact, you can bet that the Fed will lose its independence, and be bullied by cranks."
(The S+P is up close to 50% since Trump's election.)
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This is part of what Krugman said in Nov 16 - Reagan STL - 12/31 16:17:32