Wednesday, January 17, 2018

Paul Krugman Gains Top Spot in Trump's Just Announced 2018 Fake News Awards

President Trump has tweeted out winners of the "2017 Fake News Awards".

And without further ado… here are the winners, as provided by
2017 was a year of unrelenting bias, unfair news coverage, and even downright fake news. Studies have shown that over 90% of the media’s coverage of President Trump is negative.
Below are the winners of the 2017 Fake News Awards.
1. The New York Times’ Paul Krugman claimed on the day of President Trump’s historic, landslide victory that the economy would never recover.

RW note:

Although I think Trump is a dumb statist, I did not expect the Trump victory to crash the stock market or the economy---since I understand business cycle theory better than Krugman.

Back in early November 2016, just before the election when mainstream thinking was that a Trump victory would tank the stock market, I advised in the EPJ Daily Alert, to BUY the U.S. stock market regardless of who won. That the main driver of the economy was Fed monetary manipulations and that the Fed had filled the system with new money.

This is what I wrote in the Alert on election day 2016:
As I write, with an hour to go before markets close, the Dow Industrial Average is up approximately 80 points.
This is a signal that traders continue to expect a Clinton victory over Trump... Remember, if the outcome is a Trump win, markets will get hit very hard tomorrow and should be bought aggressively.

The 2018 Fake News Awards in full are here.