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Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: p8712
Date: February 11, 2019 11:17AM
Ruh-Roh

Quote

Krugman said it was unlikely that just "one big thing" would prompt an economic downturn. Instead, a range of economic headwinds would increase the likelihood of a slowdown.

He highlighted President Donald Trump's tax cut stimulus as one area of concern, saying the program was "not very effective." Krugman also warned it was "starting to look like the bubble may be deflating" when it comes to tech growth.

Citing a broad lack of preparedness among economic policymakers, Krugman said: "The main concern has always been that we don't have an effective response if stuff slows down."

"The place that looks really close to recession right now is the euro area," he added.
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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: Lemon Drop
Date: February 11, 2019 11:44AM
"By the way, my track record for this is bad — as is everybody's. No one is good at calling these turning points," Krugman said.


Trump had claimed his corporate tax cut would repatriate $4 trillion in corporate profits that would now be taxed in the US - but only 1/6th of that has actually happened. Most of what was overseas, out of reach of Uncle Sam, is still there.

The overall tax cut was a missed opportunity to use some of the huge amounts of money in the economy to shore up aging infrastructure and improve social programs that would make our country a better place to live, work and invest. But no....
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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: bfd
Date: February 11, 2019 11:45AM
How did people think that a $1 trillion deficit would be dealt with?

Mega Trillions Lottery?
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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: Acer
Date: February 11, 2019 12:21PM
Been hearing this warning for what, three years now? Business cycles are inevitable, like a colonoscopy. I hope he's right so we can get it over with. At least with no huge, obvious problem then perhaps it will be a normal, relatively short and shallow one.
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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: pdq
Date: February 11, 2019 04:25PM
A no-deal Brexit wouldn’t help. The possibility is already dragging down the UK:

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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: testcase
Date: February 11, 2019 04:50PM
"Been hearing this warning for what, three years now?

It's been FAR longer than three years according to all the emails I've received. old fogey smiley
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Re: Paul Krugman expects a global recession this year, warns 'we don't have an effective response'
Posted by: max
Date: February 11, 2019 07:49PM
He might be right, towards the end of this year.
The economy feels a bit hollow.
Our business is soft enough to cut the overtime in half.....
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