Remember This?

It’s interesting how bearish predictions are so easily forgotten.

This is from the New York Times on October 31.

Assume, for a moment, that Donald J. Trump wins the presidency.

Some readers of this column will shudder at the thought and might even stop reading now. Others in the business world will beam, like Peter Thiel, the Silicon Valley entrepreneur.

But what exactly happens the day after? To markets? To the economy?

The conventional wisdom is that, right off the bat, the stock market would fall precipitously. Simon Johnson, the Massachusetts Institute of Technology economist, posited that Mr. Trump’s presidency would “likely cause the stock market to crash and plunge the world into recession.”

The Dow is up more than 2,500 points since then.

Posted by on February 21st, 2017 at 10:16 am


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