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Skip to contentSkip to site index Search & Section Navigation Section Navigation SEARCH SUBSCRIBE FOR $1/WEEKLog in Monday, February 12, 2024 Today’s Paper SUBSCRIBE FOR $1/WEEK Opinion|Trump Dreams of Economic Disaster https://www.nytimes.com/2024/01/11/opinion/trump-biden-economy.html * Share full article * * * 558 Advertisement SKIP ADVERTISEMENT Opinion Supported by SKIP ADVERTISEMENT Paul Krugman TRUMP DREAMS OF ECONOMIC DISASTER Jan. 11, 2024 Credit...Ioulex for The New York Times * Share full article * * * 558 * Read in app By Paul Krugman Opinion Columnist Sign up for the Opinion Today newsletter Get expert analysis of the news and a guide to the big ideas shaping the world every weekday morning. Get it sent to your inbox. Did Donald Trump just say that he’s hoping for an economic crash? Not exactly. But what he did say was arguably even worse, especially once you put it in context. And Trump’s evident panic over recent good economic news deepens what is, for me, the biggest conundrum of American politics: Why have so many people joined — and stayed in — a personality cult built around a man who poses an existential threat to our nation’s democracy and is also personally a complete blowhard? So what did Trump actually say on Monday? Strictly speaking, he didn’t call for a crash, he predicted one, positing that the economy is running on “fumes” — and that he hopes the inevitable crash will happen this year, “because I don’t want to be Herbert Hoover.” If you think about it, this isn’t at all what a man who believes himself to be a brilliant economic manager and supposedly cares about the nation’s welfare should say. What he should have said instead is something like this: My opponent’s policies have set us on the path to disaster, but I hope the disaster doesn’t come until I’m in office — because I don’t want the American people to suffer unnecessarily, and, because I’m a very stable genius, I alone can fix it. Advertisement SKIP ADVERTISEMENT But no, Trump says he wants the disaster to happen on someone else’s watch, specifically and openly so that he won’t have to bear the responsibility. Speaking of which, when did Trump start predicting economic disaster under President Biden? The answer is before the 2020 election. In October 2020, for example, he asserted that a Biden win would “unleash an economic disaster of epic proportions.” Subscribe to The Times to read as many articles as you like. Paul Krugman has been an Opinion columnist since 2000 and is also a distinguished professor at the City University of New York Graduate Center. He won the 2008 Nobel Memorial Prize in Economic Sciences for his work on international trade and economic geography. @PaulKrugman A version of this article appears in print on Jan. 12, 2024, Section A, Page 22 of the New York edition with the headline: Trump Dreams of Economic Disaster. Order Reprints | Today’s Paper | Subscribe Read 558 Comments * Share full article * * * 558 * Read in app Advertisement SKIP ADVERTISEMENT COMMENTS 558 Trump Dreams of Economic DisasterSkip to Comments The comments section is closed. To submit a letter to the editor for publication, write to letters@nytimes.com. SITE INDEX SITE INFORMATION NAVIGATION * © 2024 The New York Times Company * NYTCo * Contact Us * Accessibility * Work with us * Advertise * T Brand Studio * Your Ad Choices * Privacy Policy * Terms of Service * Terms of Sale * Site Map * Canada * International * Help * Subscriptions Support independent journalism with a subscription. Already a subscriber? Log in. -------------------------------------------------------------------------------- Enjoy unlimited access to all of The Times. Includes news, games, recipes and more. Welcome offer $6.25 $1/week Billed as $4 every 4 weeks for your first 6 months. Cancel or pause anytime. PayPal OR Check out with card All Access includes news, plus Games, Cooking, Audio, Wirecutter and The Athletic. -------------------------------------------------------------------------------- Offer for a New York Times All Access subscription; current subscribers not eligible. Subscription excludes print edition. Some games may be available without a subscription. Your payment method will automatically be charged in advance the introductory rate of $4.00 every 4 weeks for 6 months, and after 6 months the standard rate of $25.00 every 4 weeks. Your subscription will continue until you cancel. Cancellation takes effect at the end of your current billing period. Taxes may apply. Offer terms are subject to change. -------------------------------------------------------------------------------- ©2024 The New York Times Company Help Feedback