Why the Left Has Been So Wrong About the Trump Boom
Time magazine’s cover story for the week of Nov. 6 is a classic. It blares: “The Wrecking Crew: How Trump’s Cabinet Is Dismantling Government As We Know It.”
The New York Times ran a lead editorial complaining that Team Trump is shrinking the regulatory state at an “unprecedented” pace.
Meanwhile, last week the stock market raced to new all-time highs; we had another blockbuster jobs report with another fall in the unemployment rate; and housing sales soared to their highest level in a decade.
Are the editors at Time and the Times so ideologically blinded that they are incapable of connecting the dots?
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The sharp-penned Paul Krugman of The New York Times declared Trump’s growth forecast an act of “economic arrogance.” He said the productivity improvement necessary for faster growth was as likely as “driverless flying cars” arriving “en masse.”
Admittedly, we shouldn’t read too much into six months of very good economic data (with 3 percent growth) or the booming stock market. These trends can always reverse course quickly. Trump’s more restrictive policies on trade and immigration could harm growth potential.
Time magazine’s cover story for the week of Nov. 6 is a classic. It blares: “The Wrecking Crew: How Trump’s Cabinet Is Dismantling Government As We Know It.”
The New York Times ran a lead editorial complaining that Team Trump is shrinking the regulatory state at an “unprecedented” pace.
Meanwhile, last week the stock market raced to new all-time highs; we had another blockbuster jobs report with another fall in the unemployment rate; and housing sales soared to their highest level in a decade.
Are the editors at Time and the Times so ideologically blinded that they are incapable of connecting the dots?
[clip]
The sharp-penned Paul Krugman of The New York Times declared Trump’s growth forecast an act of “economic arrogance.” He said the productivity improvement necessary for faster growth was as likely as “driverless flying cars” arriving “en masse.”
Admittedly, we shouldn’t read too much into six months of very good economic data (with 3 percent growth) or the booming stock market. These trends can always reverse course quickly. Trump’s more restrictive policies on trade and immigration could harm growth potential.
