We’re safe. How do I know that? Because of Paul Krugman, yannow the guy who said on election night that the markets would never recover. He’s at it again.
Pointing specifically to historically low yields on U.S. Treasuries, where investors flee to from the stock market during down times, Krugman said the market is suggesting a "permanent recession".
Mr. Market is basically saying that we're headed for permanent recession pic.twitter.com/8E6dlQLMWj
— Paul Krugman (@paulkrugman) March 9, 2020
So there you go. Mister Enron economist has spoken and you know how right he’s been over the past few years right? A good rule of thumb is to believe the exact opposite of what Krugman sez.
Krugman wants to see a recession because Orange Man bad. Maybe millions dying of the Wuhan Flu and a recession could be enough to drag the befuddled Joe Biden across the finish line.
By the way, with the drop in oil prices maybe the gummint should be buying oil at these bargain prices and filling up the strategic oil reserve. Then when prices go up the gummint could sell off some of it and make a profit. Just a thought.
More good news. Two of the Iranian’s who invaded our embassy and took Americans hostages back in 1979 just died from the Wuhan Flu. Other Iranian gummint officials have died as well.
The Wuhan Flu and the drop in oil prices are giving Iran a double whammy. They’re also giving me a big ol’ schadenboner.