Nobel Prize-winning economist Paul Krugman predicts a "global recession with no end in sight" if Donald Trump is elected president:
It really does now look like President 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. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, 8 years after the great financial crisis. [The New York Times]
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
The London Library and Elizabeth Winkler's female Shakespeare claimsWhy Everyone's Talking About Critics say an event suggesting Shakespeare may have been a woman is 'wildly inappropriate'
-
Will Iran's attack on Israel backfire?Today's Big Question The unprecedented targeting of Israel could be a 'godsend' for Netanyahu as the limits of Tehran's military power are exposed
-
Tuck in to British fusion cuisineThe Week Recommends The trend for combining classics from two food cultures can result in dishes that are doubly delicious
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
-
Immigration helped the US economy outpace peersspeed read The U.S. economy grew at an annualized rate of 3.2% last quarter
