Red Pilled World

"The red pill represents embracing the painful truth of reality, and rejecting the blissful ignorance of illusion fed to us by the mainstream media."

Friday, March 10, 2017

New York Times gets it spectacularly wrong.

When Donald Trump was elected as president, Paul Krugman of the New York Times made the following predictions1:

"We are very probably looking at a global recession, with no end in sight."

"If the question is when markets will recover, a first-pass answer is never."

Here's a graph of the Dow Jones since Donald Trump was elected president:


As you can see, it looks like Paul Krugman of the New York Times got it wrong.

In actual fact the Dow Jones soared to record highs immediately after Donald Trump was elected.

On January 25th the Dow Jones broke 20,000 for the first time in history, and as Fox news reported2, the stock market had gained $2 trillion in wealth since Donald Trump was elected!

It looks like Paul Krugman was slightly off with his predictions.

On March 1st the Dow Jones broke 21,000 for the first time in history. As the BBC reported3, this was the fastest rise between 1,000 milestones since 1999.

If you're looking for stock market tips, here's a reminder once again of Paul Krugman's prediction when Donald Trump was elected president:

"We are very probably looking at a global recession, with no end in sight."

And here's the graph once again of the Dow Jones since Donald Trump was elected president:


I guess Paul Krugman got it wrong. In fact, you could say his predictions failed.

Did I mention that he writes for the New York Times?

#TheTrumpEffect

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Sources:
1 http://web.archive.org/web/20161109064019/http://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout
2 http://insider.foxnews.com/2017/01/25/stock-market-gains-2-trillion-trump-elected-steve-moore
3 http://www.bbc.com/news/business-39126024

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