by John Stepek, Editor of Money Week
“If the question is when markets will recover, a first-pass answer is never.”
I have to feel sorry for Paul Krugman. The Nobel prizewinning economist was clearly gutted by Donald Trump’s victory.
Presidential Donald Trump (Photo by John Moore/Getty Images)
Yet he also managed to sum up in that one impassioned line (written in The New York Times in the immediate aftermath of the vote), why people don’t trust “experts”.
The Dow Jones is now trading at an all-time high. That might not last, but it’s a pretty definitive rebuttal of that dangerous little word, “never”.
Worse still, for Paul though, is the reason that the Dow is now trading at an all-time high.
It’s because markets believe that Trump might just do exactly what Paul and his fellow left-ish economists have been crying out for for years.
See full Money Week article
Gold Prices (LBMA AM)
14 Nov: USD 1,222.60, GBP 9,978.08 & EUR 1,136.53 per ounce
11 Nov: USD 1,255.65, GBP 9,991.96 & EUR 1,154.45 per ounce
10 Nov: USD 1,280.90, GBP 1,034.07 & EUR 1,175.48 per ounce
09 Nov: USD 1,304.55, GBP 1,050.42 & EUR 1,176.84 per ounce
08 Nov: USD 1,284.00, GBP 1,034.26 & EUR 1,162.02 per ounce
07 Nov: USD 1,286.80, GBP 1,036.13 & EUR 1,162.50 per ounce
04 Nov: USD 1,301.70, GBP 1,042.79 & EUR 1,172.57 per ounce
Silver Prices (LBMA)
14 Nov: USD 17.20, GBP 13.73 & EUR 15.95 per ounce
11 Nov: USD 18.59, GBP 14.73 & EUR 17.09 per ounce
10 Nov: USD 18.75, GBP 15.11 & EUR 17.20 per ounce
09 Nov: USD 18.81, GBP 15.12 & EUR 16.96 per ounce
08 Nov: USD 18.26, GBP 14.72 & EUR 16.54 per ounce
07 Nov: USD 18.22, GBP 14.67 & EUR 16.47 per ounce
04 Nov: USD 18.30, GBP 14.65 & EUR 16.48 per ounce
