KRUGMAN: The 'America we knew and loved is gone'
(Reuters)
Paul Krugman, the Nobel Prize winning economist and liberal New York Times columnist, said Monday that he has lost faith in the future of the United States.
In a series of tweets following President-elect Donald Trump's expected triumph in the Electoral College vote, Krugman seemed to be despondent with the state of the US.
"So it's official, and it's vile: the loser of the popular vote installed by Russian intervention, a rogue FBI, and epic media malfunction," Krugman tweeted.
"We should never accept this as OK. It may be the new normal, but that's a new normal in which the America we knew and loved is gone."
The economist has for weeks expressed his concern about a Trump administration, calling into question the president-elect's choices for Cabinet positions, Trump's business conflicts of interests, and the influence of the FBI and Russian hackers on the election.
Krugman also followed up with a series of tweets Tuesday morning attacking Trump's nominees for various economic posts such as the Office of Management and Budget, Treasury secretary, and the chair of the Council of Economic Advisors.
"Are people noticing that the Trump economic team is shaping up as a gathering of gold bugs?" tweeted Krugman.
Krugman said Rep. Mick Mulvaney, Trump's nominee for budget chief at the OMB, is a "conspiracy theorist." The economist pointed to a speech from Mulvaney in which he praised bitcoin as "not manipulable by any government" and attacked the Federal Reserve.
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Krugman also attacked Steven Mnuchin, the Treasury pick, for his connections to hedge fund manager John Paulson, who has incorrectly predicted massive inflation in recent years.
The highest praise was given to Larry Kudlow, who is expected to be named the head of the Council of Economic Advisers.
"In this crew, Kudlow — who thinks it's always the 1970s, but doesn't seem to see hyperinflation under his bed — is the most reasonable," Krugman said.
View Krugman's tweets below:
So it's official, and it's vile: the loser of the popular vote installed by Russian intervention, a rogue FBI, and epic media malfunction.
— Paul Krugman (@paulkrugman) December 20, 2016
We should never accept this as OK. It may be the new normal, but that's a new normal in which the America we knew and loved is gone
— Paul Krugman (@paulkrugman) December 20, 2016
Are people noticing that the Trump economic team is shaping up as a gathering of gold bugs? 1/
— Paul Krugman (@paulkrugman) December 20, 2016
Treasury goes to a guy with little public profile, but hangs out with John Paulson (who is also close to Trump) https://t.co/GSiJOfuiOq 2/
— Paul Krugman (@paulkrugman) December 20, 2016
And Paulson has been predicting inflation -- sometimes double-digit -- from Fed policy for years 3/ https://t.co/cIocJFsh7P
— Paul Krugman (@paulkrugman) December 20, 2016
Budget director appears to be John Bircher and conspiracy theorist (but aren't they all? But note economic views 4/ https://t.co/d8M15ztSXm
— Paul Krugman (@paulkrugman) December 20, 2016
Birchers want return to gold and silver, Mulvaney seems to agree 5/ pic.twitter.com/hTyHc3JbB6
— Paul Krugman (@paulkrugman) December 20, 2016
In this crew, Kudlow -- who thinks it's always the 1970s, but doesn't seem to see hyperinflation under his bed -- is the most reasonable 6/
— Paul Krugman (@paulkrugman) December 20, 2016
Whoops -- forgot Mulvaney's Bitcoin derp: "He praised bitcoin as a currency that is "not manipulatable by any government."" 7/
— Paul Krugman (@paulkrugman) December 20, 2016
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