You might remember when New York Times economic columnist Paul Krugman predicted after Donald Trump was elected president that the U.S. markets might never recover. The markets went on to set records.

Four years later Joe Biden was declared the winner of the 2020 election, and shortly thereafter Krugman made another bold prediction:


That included a prediction about a 2022 midterm possibility:

If I’m right, however, the peculiar nature of the coronavirus slump may give Democrats another big political opportunity. There’s a pretty good chance that they’ll be able to run in the 2022 midterms as the party that brought the nation and the economy back from the depths of Covid despond. And they should seize that opportunity, not just for their own sake, but for the sake of the nation and the world.

That certainly doesn’t appear to be what’s going to unfold in November, but in any case, Krugman is now defending his “Biden boom” prediction:

We’ll get back to that one in a second, but why is the economy in the shape it is? The “Biden boom” boomed too much:

Krugman also recently said we should ignore the two-quarter rule for defining a recession, a take that will likely change when a Republican is back in the White House.

The White House will applaud this take, but their approach has always been the same: To try and make people believe that jobs restored = jobs “created.”

Krugman’s got to know that… right? RIGHT!?

“The economy boomed too much under Biden” is quite the assessment.



Paul Krugman discusses how he managed to get inflation so wrong and manages to inspire even less confidence in his economic expertise