Krugman writes: "It's now clear that Trump's in full-blown panic over the failure of his economic policies to deliver the promised results."
Economist Paul Krugman. (photo: Nurphoto/Getty Images)
Trump Hits the Panic Button
13 September 19
Why is he calling for emergency monetary stimulus? Politics.
onald Trump marked the anniversary of 9/11 by repeating several lies about his own actions on that day. But that wasn’t his only concern. He also spent part of the day writing a series of tweets excoriating Federal Reserve officials as “Boneheads” and demanding that they immediately put into effect emergency measures to stimulate the economy — emergency measures that are normally only implemented in the face of a severe crisis.
Trump’s diatribe was revealing in two ways. First, it’s now clear that he’s in full-blown panic over the failure of his economic policies to deliver the promised results. Second, he’s clueless about why his policies aren’t working, or about anything else involving economic policy.
Before I get to the economics, let’s talk about one indicator of Trump’s cluelessness: his remarks about federal debt.
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