Anti-Trump New York Times economist Paul Krugman explained the methodology on Friday, admitting his “forecasting rule for the coronavirus era has been to take whatever Trump administration officials are saying and assume that the opposite will happen.”
He also predicted that the rapid employment gains of May and June were a “dead-cat bounce” and job growth has “at best slowed to a crawl.”
It won’t surprise you to know he was wrong. July job figures released the same day showed a remarkable 1.8 million new jobs, defying Wall Street forecasts.
We really should create a Krugman Rule of economics to celebrate his record of getting everything wrong.
But he was right about the oppositional disorder of Trump-haters. Their determination to refute the president’s every word is having a perverse effect on America’s ability to respond to the coronavirus.