Four Rules

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Krugman is a Nobel laureate with a knack for being right and wry. I value him for his thinking and for his rhetoric.

Last year, after an earlier stock market swoon brought on by headlines about the U.S.-China trade conflict, I laid out three rules for thinking about such events. First, the stock market is not the economy. Second, the stock market is not the economy. Third, the stock market is not the economy.

But maybe I should add a fourth rule: The bond market sorta kinda is the economy.

(Paul Krugman, “From Trump Boom to Trump Gloom,” NYTimes, 8-15-19)

(c) 2019 JMN

About JMN

I live in Texas and devote much of my time to easel painting on an amateur basis. I stream a lot of music, mostly jazz, throughout the day, and watch Netflix and Prime Video for entertainment. I like to read and memorize poetry.
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