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Media Predicted Economic Collapse Under Trump — It Didn’t Happen


WestVirginiaRebel

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WestVirginiaRebel
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Media pundits, businessmen, and even Nobel Prize-winning economists predicted a economic collapse would occur under President Donald Trump — but the 2017 economy tells a different story.

Doomsayers claimed that Trump had an uneven temperament and unclear policy positions, which would bring unpredictability to the markets. In response, investors would hedge their money and the markets would collapse.

New York Times columnist Paul Krugman, who won a Nobel Prize in economics, predicted just one day after the 2016 presidential election that the markets will “never” recover under Trump. Krugman wrote in The New York Times that Trump’s unpredictability would be particularly damaging to an already fragile economy.

Business tycoon Mark Cuban similarly stated back in September of 2016 that the stock market would crash if Trump won the presidency.

 

“If the polls look like there’s a decent chance that Donald could win, I’ll put a huge hedge on that’s over 100% of my equity positions… that protects me just in case he wins,” Cuban said.

Perhaps most infamously, journalist Kurt Eichenwald announced he was selling all of his stocks in his children’s education accounts in preparation of the stock market tanking.

 

Policy analyst Sean McElwee tweeted in December 2016 that economic experts were predicting that Trump’s economic plans would not help the working class.

 

Glenn Kessler of The Washington Post warned that former president Barack Obama was handing Trump a booming economy that was sure to falter once Trump took office.

 

 

Financial journalist Caroline Baum insisted that Trump is “NOT good for economic growth,” explaining that his plans to renegotiate trade deals would crush the markets.

 

The fear mongering over Trump’s economy probably ended up costing some people a good chunk of change, as the stock market hit a number of record highs and the economy experienced high growth during Trump’s first year in office.

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The apocalypse that didn't happen.

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