'The cracks are showing': Nobel economist rips MAGA’s 'stench of desperation'

During her testimony at a tumultuous House Judiciary Committee hearing on Wednesday, February 11, U.S. Attorney General Pam Bondi angrily lashed out at Democratic lawmakers — Hurling insults at everyone from Rep. Pramila Jayapal (D-Washington State) to Rep. Jamie Raskin (D-Maryland), who she called a "washed-up loser lawyer." Raskin, a former constitutional law professor and the Judiciary Committee's top Democrat, is known for being even-tempered and having polite debates with conservatives. But his questioning of Bondi quickly turned into a shouting match.

Bondi, during her testimony, attacked Democrats for having "Trump derangement syndrome" and not giving President Donald Trump credit on the economy. But liberal economist Paul Krugman, in a scathing Substack column posted on February 13, argues that Bondi's defense of Trump's economic record during her "tantrum" had an "unmistakable stench of desperation" in addition to being quite misleading.

Krugman writes, "The cracks are showing, as some congressional Republicans have now voted against Trump's tariffs, Justice Department lawyers are quitting en masse or just plain cracking up — and attempts to weaponize prosecutions keep failing….. Bondi's yelling isn't making Epstein go away. But let's examine Bondi's demand that Americans ignore the omnishambles because stocks are up. It's morally depraved, but what about the economics?"

Krugman continues, "Yes, stock prices are up. As any economist can tell you, however, the stock market is a poor indicator of the economy's overall health. Paul Samuelson famously quipped that the market had predicted nine of the last five recessions. Furthermore, stock prices are up almost everywhere — and up more in other countries than they are in the United States. The chart at the top compares stock prices in the U.S. and in the euro area; since the latter is measured in euros, and the euro has risen against the dollar, Europe has substantially outperformed America."

The former New York Times columnist stresses that when it comes to "affordability and jobs," the "Trump economy isn't delivering."

"Inflation remains stubbornly elevated," Krugman observes. "Despite one good month, employment growth has shriveled. And it keeps getting more difficult to find a job…. This is certainly not a great economy. It's not even a healthy economy. And Americans are not buying the (Trump) Administration's lies….. So while people inside the MAGA bubble keep insisting that Trump is a great president, the greatest president ever…. their cheerleading reeks of desperation. The MAGA implosion is gathering force."

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