Two years ago, after the shock of Donald Trump’s election, financial markets briefly freaked out, then quickly recovered. In effect, they decided that while Trump was manifestly unqualified for the job, temperamentally and intellectually, it wouldn’t matter. He might talk the populist talk, but he’d walk the plutocratic walk. He might be erratic and uninformed, but wiser heads would keep him from doing anything too stupid. In other words, investors convinced themselves that they had a deal: Trump might sound off, but he wouldn’t really get to make policy. ...
Does all this Trump chaos matter for the economy, or for the stock market?
Sorry, investors, but there is no sanity clause on Trump
Paul Krugman | NYT Last Updated at December 25, 2018 12:42 IST