Paul Krugman Says 1 Shaky Thing Stands Between Donald Trump And A Recession
HuffPost
If it goes bust, "the odds are high that the US economy will be plunged into a recession," warned the famed economist.
Famed economist Paul Krugman argued it’s “likely” the United States “would be heading into a recession” right now, were it not for the massive financial investment that is currently being made in the development of artificial intelligence.
“Stagflation is very much on people’s minds again, for good reason,” the 2008 winner of the Nobel Memorial Prize in Economic Sciences wrote in his Substack newsletter published on Sunday.
Krugman has previously warned of the devastating effect that President Donald Trump’s tariffs and anti-immigrant crackdowns could have on the U.S. economy.
And now, he said, they are combining and “creating a significant inflationary shock” and “imposing a significant drag on economic growth.”
If “the AI boom goes bust,” he cautioned, “the odds are high that the US economy will be plunged into a recession.”
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