Krugman writes: "Last spring Donald Trump and the people around him probably thought they had a relatively clear path to re-election."
A trader outside the New York Stock Exchange on a day the Dow closed down over 300 points in May. (photo: Spencer Platt/Getty)
The Day the Trump Boom Died
25 October 19
Why has business confidence collapsed?
ast spring Donald Trump and the people around him probably thought they had a relatively clear path to re-election.
On one side, it looked as if Trump had weathered the threat of politically fatal scandal. The much-awaited Mueller report on Russian election intervention had landed with a dull thud; the details were damning, but it had basically no political impact.
At the same time, Trump was convinced that he could run on the basis of a booming economy. Never mind that his claims to have run up the best economic record in human history were easily refuted; the reality seemed good enough to sell as a big success story.
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