Source: Paul Krugman
by Paul Krugman
“At this point it’s almost routine: Almost every time Donald Trump makes a major announcement about the Iran War, that announcement is preceded — sometimes by only a few minutes — by huge and hugely profitable bets in the oil market. … The Trump administration is making no real effort to crack down on whoever is trading using inside information, and these inside traders are operating with a complete sense of impunity, assured that they can get away with it. The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a larger question. The insiders ripped off the parties who sold futures to them at what turned out to be very unfavorable prices to the sellers. What broader damage does this kind of unchecked insider trading do?” (05/07/26)