The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

Nobel Laureate Krugman Admits He Is “Clueless.”

Economist Dr. Krugman, a Nobel Prize winner in economics, never disappoints us in his reconfirmation of our view of this dismal science.

Krugman wrote about his shock produced by the Trump election:

So what do we do now? By “we” I mean all those left, center and even right who saw Donald Trump as the worst man ever to run for president and assumed that a strong majority of our fellow citizens would agree.

I’m not talking about rethinking political strategy. There will be a time for that — God knows it’s clear that almost everyone on the center-left, myself included, was clueless about what actually works in persuading voters.

Tuesday’s fallout will last for decades, maybe generations.

I particularly worry about climate change. We were at a crucial point, having just reached a global agreement on emissions and having a clear policy path toward moving America to a much greater reliance on renewable energy. Now it will probably fall apart, and the damage may well be irreversible.

At least Krugman is correct on one item, “Tuesday’s fallout will last for decades, maybe generations.” Yes, for the first time since the “Reagan Revolution” true, hard-working Americans may get a chance again in this country. The “Robber Barons” of the Elite Establishment may now have to relinquish control. The corruption in high places may stop. Tax rates will plunge, the avalanche of regulations will stop and small businesses can breathe again.

Term limits for members of Congress may be introduced, ending the cesspool of corruption involving career politicians. The health care system may be reformed to give Americans affordable health insurance and health care.

Krugman blamed “stupid voters.” Actually, if it hadn’t been for “stupid voters,” the Dem candidate would have received only a few votes.

Krugman of course believes in the “global warming” theory and that it presents one of the greatest dangers to mankind. Well, our view is different. Weather cycles of various durations have existed for thousands and tens of thousands of years. The cooling cycle in the Middle Ages produced the “Black Death,” a disease that wiped out about half the population of Europe.

The warming cycle that followed brought the “Age of Enlightenment,” when all the arts and scientific discoveries flourished. If that is the result of “warming,” let’s have more of it. We really need some “enlightenment.