- Wed Jan 17, 2018 7:43 pm
#98903
New York Times economist Paul Krugman wrote, “[T]his is my specialty…If the question is when markets will recover, a first-pass answer is never.” Kurt Eichenwald of Vanity Fair tweeted in September, “In preparation for a completely unpredictable Trump presidency, I sold all stocks my kids’ education accounts today. I urge you to do same.” Professor Eric Zitzewitz of Dartmouth College said that the global markets would tank by 10 percent in the first week. The former chief economist for the International Monetary Fund said “we should expect a big markdown in expected future earnings for a wide range of stocks – and a likely crash in the broader market.” Bridgewater Associates told all of its clients that if Trump was elected, the stock market could plummet 2,000 points in one day. Citigroup forecast that if Trump won, the S&P 50 would drop between 3 percent and 5 percent in the first month.