Paul Krugman — egg on face nitwit — UPDATED

Paul Krugman in the New York Times on election night:

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.

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.

Wall Street Journal today — U.S. Stocks Close at Record Highs

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite climbed to a trifecta of records Monday as stocks extended their postelection rally.

It’s always risky to get too full of yourself.

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UPDATE: Dow closed above 19,000 on Tuesday for first time in history.

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