I was totally wrong about a post-election stock market crash
Yes, I am not always right about things. But unlike the smug left-wing mainstream media, at least I admit when I was wrong.
I wrote this post about the possible stock market crash if Trump wins. So what is the market doing today? It’s soaring.
At least I have good company. Last evening, Paul Krugman wrote:
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.
Wrong, wrong wrong. It took the markets less than 24 hours to recover.
I may have also been wrong, but I don’t have a Nobel Prize in Economics and don’t get paid a lot of money to write a newspaper column in the world’s most prestigious newspaper. And I don’t expect Krugman to apologize.