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Paul Krugman has a 'sense of dread about the year ahead' (mere months after declaring it 'morning in Joe Biden's America')

Last summer, New York Times economist Paul Krugman declared it “morning in Joe Biden’s America”:

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The sun was rising and a new day was dawning, but it seems like that morning barely lasted long enough to finish a cup of coffee:

If last summer was “morning” in Biden’s America, what time of day is it now?

Change that NYT headline to “mourning in Joe Biden’s America” — at least for Krugman:

Covid’s still around? Didn’t Biden promise to “shut down the virus”? In any case, we like to stay as optimistic as possible, but being a liberal like Krugman means there’s never a shortage of things to completely freak out about:

The good news for Krugman is that he’s almost never right about anything. For example, on election night 2016, Krugman wrote the following:

If the question is when markets will recover, a first-pass answer is never. 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.

Nailed it! Wait, no he didn’t.

After nearly two years that included forced shutdowns, lockdowns, mandates that didn’t work, ridiculous regulations and unconstitutional edicts, the power-hungry people with bad ideas aren’t in the political party Krugman thinks they are.

But in spite of all this despair, don’t despair:

Krugman left something out:

Inflation (aka “transitory price blips“) seems to be one thing that Krugman doesn’t think is worth panicking about.

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Related:

Bloomberg @Business challenges Paul Krugman for the hottest take on inflation this weekend

Nobel Prize-winning economist Paul Krugman thinks Marco Rubio is making way too big a deal about spending $3.5 trillion that we don’t have

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