You may remember that when Trump won the election, lots of people on the left immediately started predicting that the economy would tank. It was like doomsday predictions all around. And they were all wrong.
The editors of the New York Post just published this:
Turns out Trump didn’t ruin America’s economy
Foreign tourism to New York City is set to rise 3.6 percent this year — defying yet another of the many doomsday predictions about Donald Trump’s presidency.
Back in February, the city tourism agency said Trump’s “travel ban and related rhetoric” would mean a drop of 300,000 visitors this year. But the NYC & Co. prophecy proved false.
Of course, other predictions were more dire — particularly those about the stock market.
Finance expert Steve Rattner foresaw “a market crash of historic proportions” under a President Trump. Moody’s warned of a “weaker” economy. Many said 2 percent GDP growth was the best that could be hoped for.
Other doomsayers included Mark Cuban, CNBC’s Andrew Ross Sorkin and firms such as Bridgewater Associates and Macroeconomic Advisers. (A less-dishonorable mention goes to Nobel-winning economist Paul Krugman, who at least walked back his doomsaying about “a global recession, with no end in sight,” soon after election night.)
In fact, the Dow has climbed more than 25 percent since Hillary Clinton conceded. And the first two full quarters of Trump’s term both saw growth of 3 percent or more. Oops.
The same people who were wrong about the election and the economy are still making bogus claims on a daily basis.