Quantcast
Connect with us

Paul Krugman: Trump is ‘disintegrating before our eyes’ as stocks plunge and the presidents barks orders to US companies

Published

on

- Commentary
Paul Krugman speaks to The Commonwealth Club of California in San Francisco on May 22, 2012. (Ed Ritger/Flickr)

Descending to new lows of absurdity, arrogance, and delusion, President Donald Trump demanded that American companies “immediately start looking for an alternative to China” as his trade war with the foreign power drags on. Trump’s earlier comments in the week already had observers questioning his mental wellness, but this new outburst provided fresh evidence of his lack of connection to reality and instability:

ADVERTISEMENT

ADVERTISEMENT

Earlier, Trump had lashed out at the Federal Reserve chair:

ADVERTISEMENT

These manic declarations came amid increasingly worrying economic signals and as the Dow Jones Industrial Average plunged more than 400 points Friday morning.

ADVERTISEMENT

But despite these outbursts, economist Paul Krugman, a frequent critic of the Republican Party and the president in particular, suggested on Twitter that “it’s not clear whether Trump is getting any crazier. It’s just that events have stopped accommodating his madness.”

He continued: “The story of both the markets and the economy since 2016 has been that investors decided, in effect, either that Trump isn’t really as demented as he sounds or that it doesn’t matter, because grownups will restrain him.”

This has seemed to be something of a “self-fulfilling prophecy,” Krugman said, because the relatively strong economy gave Trump little reason to overreact.

ADVERTISEMENT

“But now, at the first hint of a setback — I mean, no recession yet, no major market plunge, just a modest slowdown (so far) — he’s disintegrating before our eyes. And the closest thing we have to a grownup on the scene is the Lego Batman guy [Treasury Secretary Steve Mnuchin],” he went on. “Again, not clear whether Trump is any crazier than he was; maybe he’s deteriorating, but is calling Powell an enemy notably worse than the stuff about crowd sizes at his inaugural and refusing to admit he lost the popular vote?”


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

Trump has made it disturbingly clear: He thinks he can steal this election and get away with it

Published

on

I'm as big a political junkie as they come. I love reading polls, monitoring their day-to-day fluctuations, like a fantasy sports bettor studying blocks of player stats. I not only watch politicians give speeches, I engage in blow-by-blow commentary by my fellow junkies on Twitter. I got caught up in this election's "veepstakes" and debating the various women under consideration by former Vice President Joe Biden as his future vice president, and it was satisfying to share my thoughts on the final choice, Sen. Kamala Harris of California. I've faithfully watched every episode of Crooked Media's YouTube series analyzing various campaign ads.

Continue Reading

2020 Election

Trump is sabotaging more than just the US Postal Service as he bumbles towards catastrophe

Published

on

I have good news and I have bad news. The good news is the word “sabotage” is being used more often and with more feeling by leading Democrats and liberals than I have witnessed since the president took office. This is an important development. Too few Americans appreciate the depth of Donald Trump’s malice. If there’s a way to betray the republic, he will find it. The more people understand this, the more prepared they will be when this chapter in our history comes to an end—if it comes to an end.

This article was originally published at The Editorial Board

Continue Reading
 

2020 Election

Brace yourself for one of the most tumultuous and stressful transitions in America history if Biden defeats Trump

Published

on

Three months from now America will once again experience the tumult and stress of presidential transitions, if one believes the polls that show former Vice President Joe Biden thwarting President Trump’s attempt to win a second term in the White House.  Trump has already made clear his intention to fight tooth and nail, no holds barred, to win a second term, including legal maneuvers with no limits, plus threats simply not to concede.  This could create a constitutional crisis that would surpass any previous presidential transition.  America has certainly had a lot of experience in difficulties in the change of governments in the last two centuries.  An examination of such tumult and stress is instructional.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image