Would you take investment advice from Paul Krugman?

Remember Paul Krugman?

The purported economics genius and Nobel laureate who advised us shortly after President Trump was elected that markets would never recover? The Trump administration has helpfully reminded him and the rest of us what his predictions are worth.

According to the Daily Caller:

White House press secretary Sarah Huckabee Sanders mocked New York Times columnist Paul Krugman for predicting the U.S. economy would never recover from a Donald Trump presidency.

Sanders referenced Krugman’s Nov 9, 2016 declaration that “if the question is when markets will recover, a first-pass answer is never.” The Nobel Prize-winning economist continued “under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis.”

The Caller noted that the Dow hit 87 highs, GDP topped 3% and 2 million new jobs were created during the first year of the Trump presidency.

But on Nov. 9, 2016, the Krugster famously advised us that:

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.

Good old Sarah, reminding the press of the obvious about Paul. Because the reality is, Krugman, for all his academic laurels and even some good research in his long-ago, has since transformed himself into an idiot, utterly ignorant of market realities in a topic he should stay away from until he learns something about it. He looks downright ridiculous with predictions like this.

It goes to show there really is something as an educated fool. Market people know not to confuse market expertise with academic economics and Krugman was surely not let in on that secret.

The funny thing is, there were people (none of them in the markets) who took Krugman's advice anyway, either wittingly or unwittingly, and they are now laughingstocks. Such as this leftwing blowhard similar to Krugman in perspective, Kurt Eichenwald, in a post spotted on Instapundit:

It would take a heart of stone not to laugh, Glenn Reynolds noted dryly.

A question the Times' enterprising reporters should now ask Krugman is whether he took his own advice, too.

As markets know, bubbles always pop. Will this idiocy pop Krugman's ballooned-up reputation at the Times? Hard to say. But one thing we do know for certain: It won't do anything to pop the puffeed up bubble of Krugman's ego. Not even markets can change that.

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