“One way or another, the economy is going to lock down again,” warned Paul Krugman on Tuesday night.
“This is where we’ve gotten to,” the noted economist lamented to CNN’s Don Lemon. “We squandered the chance to actually bring this thing (the coronavirus) under control,” he said, pointing to the premature reopening of states (encouraged by President Donald Trump), which led to a devastating resurgence of COVID-19.
Krugman predicted a new lockdown would come about either “because governors and hopefully the president finally says ‘OK, we screwed it up, we need to do it over again’ or just because people are too afraid” to go out and resume business as usual.
The economist, awarded the Nobel Memorial Prize in Economics in 2008, also cast doubt on Trump’s upbeat assessment of the economy.
Krugman, who earlier this month slammed the Trump administration’s handling of the public health crisis with an analogy about the Titanic, noted how “every indicator we have is that the recovery has stalled.”
Check out the full interview here:
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