Nasdaq 100 trades above its 50-day moving average for 135 straight days. This is the longest streak in history.
When Donald Trump was elected as president, Paul Krugman of the Failing New York Times made the following prediction1:
"We are very probably looking at a global recession, with no end in sight."
Unsurprisingly, Paul Krugman's prediction proved to be wildly inaccurate. In fact it would be fair to say that Paul Krugman's prediction was a contender for the most inaccurate prediction in the history of predictions. It was even more inaccurate than MSNBC's famously laughable prediction that Hillary Clinton had a 99% chance of winning the election.2
In actual fact, the Dow Jones soared to record highs immediately after Trump was elected, and has since broke numerous records.3
And here's another record...
The Nasdaq 100 has traded above its 50-day moving average for 135 straight days. This is the longest streak in history.4
Paul Krugman of the Failing New York Times also predicted:
"If the question is when markets will recover, a first-pass answer is never."
Perhaps a better question would be, 'when will Paul Krugman's reputation recover?'
If Krugman carries on making such embarrassingly inaccurate predictions, a first pass answer is never.
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Links:
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://archive.is/vcgto
3 http://redpilledworld.blogspot.com/2017/03/new-york-times-gets-it-spectacularly.html
4 https://twitter.com/StockTwits/status/877931097752969217
"We are very probably looking at a global recession, with no end in sight."
Unsurprisingly, Paul Krugman's prediction proved to be wildly inaccurate. In fact it would be fair to say that Paul Krugman's prediction was a contender for the most inaccurate prediction in the history of predictions. It was even more inaccurate than MSNBC's famously laughable prediction that Hillary Clinton had a 99% chance of winning the election.2
In actual fact, the Dow Jones soared to record highs immediately after Trump was elected, and has since broke numerous records.3
And here's another record...
The Nasdaq 100 has traded above its 50-day moving average for 135 straight days. This is the longest streak in history.4
Paul Krugman of the Failing New York Times also predicted:
"If the question is when markets will recover, a first-pass answer is never."
Perhaps a better question would be, 'when will Paul Krugman's reputation recover?'
If Krugman carries on making such embarrassingly inaccurate predictions, a first pass answer is never.
- - - - - - - - - -
Links:
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://archive.is/vcgto
3 http://redpilledworld.blogspot.com/2017/03/new-york-times-gets-it-spectacularly.html
4 https://twitter.com/StockTwits/status/877931097752969217
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