Media Blog

The Krugman Touch

Via Don Luskin, Arkansas Democrat-Gazette editorial page editor Paul Greenberg has discovered that Paul Krugman’s columns have mystical powers:

It started out as a gag here on the editorial page of the Arkansas Democrat-Gazette and soon became a superstition:
Every time the stock market took a little dip, we’d reprint one of Paul Krugman’s dour columns from the New York Jaundiced Times about the imminent doom of the American economy.
Almost immediately the market would bounce back and then some. It worked every time.
But we may have overdone it of late. By now the Dow Jones has started to cross into 12,000 territory. A few more Krugman columns explaining how the economy has cooled off and the thing could overheat.
We reprinted one of his columns last Thursday morning and, sure enough, by the end of the day, the Dow ended the day over 12,000 for the first time. AN HISTORIC HIGH! and all that jazz.
Well, sure. The Krugman touch never fails.

Krugman has predicted a landslide for the Democrats in November – one of the few reasons for Republicans to keep hope alive.

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