Markets Never Recover From the 2016 Election
Paul Krugman, Election Night 2016: When Will Markets Recover? 'A First-Pass Answer Is Never'
Writing for The New York Times as the result came in, the Nobel economist said markets would not recover and the world was 'very probably looking at a global recession, with no end in sight.'
What was said
“If the question is when markets will recover, a first-pass answer is never.”
— Paul Krugman (economist and New York Times columnist) · said Nov 9, 2016 · due Never (from November 9, 2016)
Never lasted about a day. The Dow set 17 record highs after Election Day and finished 2016 up 13.4%.
The Story
Posted in the early hours of November 9, 2016 on the Times' election-night opinion page. The same post: 'So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow.' The 'I suppose' is the hedge.
Other one-day doom: rbs-sell-everything-2016.