Paul Krugman says Trump's policies surpass the Gilded Age disaster

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President Donald Trump’s economic policies are not just as bad as the Gilded Age, according to a Nobel Prize-winning economist. They surpass them.

The Gilded Age was a period in American history from the late-19th century to the early-20th century marked by severe income inequality and political corruption. It also preceded one of the worst economic meltdowns in U.S. history. Yet this economist says the seeds of the Trump era are already worse.

“Forbes did compile a list of the richest Americans,” economist Dr. Paul Krugman told MS NOW anchor Katy Tur on Tuesday. Going back to 1918, Krugman noted that “if you look at the five richest Americans then versus the 15 richest now, in both cases, that's about 1/100,000 of a percent of the population. You know, that's not the one percent. It's far, far beyond that. The top five now are substantially richer relative to the population at large, relative to the size of the economy than their counterparts were then.”

For example, SpaceX CEO Elon Musk — who earlier this month became the world’s first trillionaire — “is bigger relative to today's U.S. economy than [Standard Oil founder] John D. Rockefeller was relative to the economy of 1918. So we really are in a super-hyper Gilded Age now, far beyond anything that we saw then.”

https://www.msn.com/en-us/money/savingandinvesting/brace-yourself-nobel-prize-economist-says-trump-s-policies-surpass-the-gilded-age-disaster/ar-AA25Oj57

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