Opinion
A Christmas gift from the bond market
There’s no real reason for yields to have plunged since October, argues Paul Krugman: “My guess is that we’re mainly looking at market psychology.”
Paul KrugmanContributorIt has been a strange few days on the Donald Trump front: He said something about himself that I actually believe and something about the economy that’s mostly true.
On the personal side, Trump has been sounding a lot like Adolf Hitler lately — I don’t mean his general tone, I mean his specific statement last week at a New Hampshire rally that immigrants are “poisoning the blood of our country”, echoing what Hitler wrote in Mein Kampf, almost word for word. (And if you think it was just a one-off, he said the same thing in a September interview.) But Trump claims never to have read Mein Kampf, and I believe him, just as I believe that he’s barely skimmed the Bible or any of the great books or, I would guess, The Art of the Deal. Pretty clearly, reading isn’t his thing.
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